8B — September 29 - October 12, 2017 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

ORTHERN NJ — Cervelli Real Es- tate & Property 110 Williams Ave. in Jersey City sells for $750,000 Cervelli Real Estate & Property Management complete the sale of several NNJ apartment assets N

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 multifam- ily 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 com- plications 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 Lem- beck Ave. sold for $625,000 and 110 Williams Ave. sold for $750,000. The third trans- action, located in the south- ern Bergen County town of Ridgefield, which has very few rental properties was quickly snatched up by an- other repeat customer, ac- cording to Cervelli. The sell- er, also a previous client had approached Chris Cervelli looking to sell quickly to help him fund an alternate invest- ment. 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 high- est level of advisory services. Headquartered in North Bergen, New Jersey, Cer- velli 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 man- agement. Aimed at provid- ing professional brokerage services to private investors and financial institutions involved in income producing multi-family properties and shopping centers, Cervelli of- fers 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. n

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