Cervelli Real Estate & Property Management announced the sale or 3 mixed use buildings
Cervelli Real Estate & Property Management announced the sale or 3 mixed use buildings. All three are located on Summit Avenue which is one of Union City’s business districts that has or late received a lot of infrastructure upgrades. The buildings, located at 1401, 1403 and 905 Summit Avenue each had their own challenges but also offered great upside. 905 Summit, the building with the most physical issued had many major infrastructure upgrades that needed to be performed in order to really the building for sale. The buyer, an extremely sophisticated investor saw the deal through because of the great upside the deal offered. The three buildings, totaling 25 units traded for $2,860,000.
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.