Michael Cervelli Real Estate LLC announced Tuesday that it has brokered the sale of two West New York apartment buildings.
The first building, a 15-unit mixed-use property with separate utilities, sold for $1.3 million.
The second, a smaller property, sold for $97,500 per unit.
“There is no quicker way to get to the region’s most heavily trafficked public transportation system, not Brooklyn, not Queens,” Cervelli said in a statement. “There is so much upside on this side of the Hudson River before we hit outer borough levels, that we feel this is a relatively safe investment given pent-up investor demand, and the difficulty of residential home buyers to qualify for mortgages.”
Michael Cervelli Real Estate is headquartered in North Bergen.
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