Michael Cervelli Real Estate Sells Two North Hudson Investment Properties
Michael Cervelli Real Estate announces the sale of two North Hudson Investment Properties. The first, located at 604 21ststreet in Union City is a 9 unit 4 story brick apartment house located in a central location of Union City, purchased by international investors looking to deploy capital into safe hard assets. Union City benefits from an excellent public transportation system, convenient proximity to Manhattan and competitive pricing in comparison tocomparable areas such as Brooklyn and Queens. The property traded for $1,115,000 or $123,888 per unit. The second, 80 Webster Avenue located in the white hot Jersey City heights, was a six unit apartment house purchased by a local investor who is accumulating properties in this rapidly expanding city. Jersey City is currently experiencing a renaissance, as high demand for new rental units, exceedingly high prices in its sister city of Brooklyn, and a very aggressive infrastructure program to support all of the new development create a strong sense of confidence.
