Michael Cervelli Real Estate Sells 13 units in North Bergen
North Bergen, NJ – Michael Cervelli Real Estate recently arranged the sale of 2 brick apartment houses totaling 13 units in North Bergen. The 2 properties, 1211 7th Street and 1200 13th Street were purchased by the same investment group, but were owned by 2 different owners. The properties are located in an area that has tremendous access to an arterial network of Public transportation and highways leading to the New Jersey Turnpike and Holland Tunnel.
Both properties were purchased in cash as each had their own challenges which would have made financing difficult. In each instance, the owners contacted Chris Cervelli with the need to dispose of non performing assets. Chris quickly identified a group who are building a large portfolio in the area and the absorption of the units for long term hold was within their reach. 1200 13th Street sold for $199,000 and 1211 7th Street sold for $310,000.
