Cervelli Real Estate & Property Management complete the sale of several NNJ apartment assets
NORTHERN NJ — Cervelli Real Estate & Property Management announced the sale of several North Jersey Apartment assets (shown right). The first, in West New York was located at 215 64th St. The multifamily property had been on the market several times with other brokers but they were unable to identify the correct buyer who could close on the deal. There were some complications with an oil tank and some old, unaddressed violations, but Cervelli has built a reputation for closing difficult deals. Two others, totaling 14 units located in Jersey City were cash transactions. A longtime client of the firm, the seller, noted how the Cervelli team has a knack of finding buyers that will pay the highest price. 17 Lembeck Ave. sold for $625,000 and 110 Williams Ave. sold for $750,000. The third transaction, located in the southern Bergen County town of Ridgefield, which has very few rental properties was quickly snatched up by another repeat customer, according to Cervelli. The seller, also a previous client had approached Chris Cervelli looking to sell quickly to help him fund an alternate investment. The property, which sat on an over 10,000 s/f lot, contained eight apartments and a parking lot and traded for $1.5 million. Part of the firms success is attributed to its proprietary process which the company is constantly refining to provide the highest level of advisory services. Headquartered in North Bergen, New Jersey, Cervelli Real Estate & Property Management was founded in 1983 and is recognized as one of the state’s most experienced specialists in commercial investment real estate and property management. Aimed at providing professional brokerage services to private investors and financial institutions involved in income producing multi-family properties and shopping centers, Cervelli offers comprehensive research-driven transaction solutions. The Cervelli team provides professional property and facility management services to a wide range of clients such as state institutions, condominium associations and private owners. Cervelli takes pride in upholding an undisputed reputation built on honesty, integrity, and experience in the investment real estate industry.