Michael Cervelli Real Estate LLC Sells 12 Units in Guttenberg, NJ

North Bergen, NJ- Cervelli Real Estate announces sale of 220 70th St, a 3 story brick apartment house located in Guttenberg, NJ. The areal has recently been  a hub of activity for multi-family investors, featuring quick and convenient public transportation access to Manhattan. The property traded for $875,000, which represents an 8.4% capitalization rate, at $72,916 per unit demonstrating the continuous vibrancy of the North Hudson market.

This deal is an example of Cervelli Real Estate’s savvy approach to implementing technology to broker quick and seamless exchanges. Chris Cervelli heard of the deal while traveling, and using their online exchange was able to alert Harald Jonassen of the property. Harald was able to quickly deliver the information to a long-time client and the deal was quickly brought to contract. Cervelli Real Estate’s team based approach, and broad understanding of technology and the market was able to provide value to its clients.