Michael Cervelli Real Estate sells 555 Newark Ave in Jersey City
Michael Cervelli Real Estate, LLC announces the sale of 555 Newark Avenue in the Journal Square section of Jersey City.
The property, an all brick mixed use building adjacent to the Hudson County Court House sold for $425,000 dollars which represented a 5.3% cap rate, signifying the continued demand for Hudson County Investment Properties.
With interest rates looking to remain relatively low for the next several years Hudson County will continue to see cap rate compression, as investors starving for return compete for the few deals that are available.
