The property is a mixed-use investment property with three stores and three apartments featuring separate utilities. James Cervelli orchestrated the sale, which involved negotiating leases in order to stabilize the asset and demonstrate its investment value. Once the commercial tenants were in place, a buyer was secured. A sale price of $850,000 and capitalization rate of 7.7% signals the continued strength in investment sales in Bergen County which as been driven by low interest rates and strong demand for safe …

The property is a mixed-use investment property containing 6 apartments and 3 commercial stores. The building has separate utilities and traded for $665,000. Chris Cervelli orchestrated the sale, which involved the handling of many open permit issues within the city. “It’s really important to be out in front of city ordinances and building department issues. Clearing old permits can be a lengthy process so it’s best to tackle it at the inception of the deal,” says Chris Cervelli, CCIM. Union …

Michael Cervelli Real Estate announces the sale of 381-383 Mountain Road in Union City, NJ. The property, which overlooks Manhattan, is a 6-family apartment house, which includes garage parking. Situated directly across the street from Troy Tower, this property offers the investor a range of future opportunities. The property was settled for a $600,000 cash transaction which was orchestrated by Chris Cervelli and was under contract in just 4 days. The deal however was not quite so smooth as there …

Cervelli Real Estate obtained the listing and proceeded to take the property to market. After showing the space to many prospects, the landlord decided to go with the security of a large national company. The tenant “Fresenius Medical Care Jersey City” is the largest provider of dialysis services in the country employing 45,000 people. Due to the nature of business, the tenant had many logistical and political hurdles but the parties were able to come to an agreement after several …

The site located on Bruckner Boulevard in the Bronx was listed with Cervelli Real Estate and drew much attention from many national tenants. Ultimately the landlord decided to proceed with IHOP given its corporate financials and the operator’s experience. Chris Cervelli, CCIM led the negotiations between the owner and the tenant who will be developing the property to house the new restaurant.