Michael Cervelli Real Estate Sells 34 units in Jersey City

Michael Cervelli Real Estate, LLC announces the sale of a slew of buildings in the South end of Hudson County totaling 34 units in the last month of 2014. ,30 Mostly centered around the upcoming Journal Square and artist district of Jersey City Heights, the sales illustrated the aggressive deployment of investment dollars in this region given the inability to locate cash flowing deals in other competing areas such as Brooklyn and Queens. One of the sales, 1053 West Side Avenue, will take advantage of the recent Puccini’s Sale, which is adjacent to Rail Lines that link up with the Journal Square Path Complex, and could ultimately create a new transit hub in that section of Journal Square. Another deal, 523 Palisade Avenue, located in the middle of the newly dubbed “Artist District” is taking direct advantage of the changing demographics. The site offers a Yoga Studio, and the property is just a few doors down from Riverview Park which has artist and live performances in the summer, and which is directly across from the newly opened Mod Cup Coffee, and Jersey City Fit Body Boot Camp. These new businesses are a direct result of the demand of area residents that are moving here and are creating a need for local services. This trend will only continue as Jersey City continues to attract residents, build on its infrastructure and appeal of better value living than other New York options.