Michael Cervelli Real Estate, LLC announces the sale of 555 Newark Ave in Jersey City
Michael Cervelli Real Estate, LLC announces the sale of 555 Newark Avenue in the Journal Square section of Jersey City. The property, an all brick mixed use building adjacent to the Hudson County Court House sold for $425,000 dollars which represented a 5.3% cap rate, signifying the continued demand for Hudson County Investment Properties. With interest rates looking to remain relatively low for the next several years Hudson County will continue to see cap rate compression as investors starving for return compete for the few deals that are available.
Headquartered in North Bergen, New Jersey, Michael Cervelli Real Estate, LLC was founded in 1983 and is acknowledged as among New Jersey’s most experienced specialists in the Investment Real Estate Sales. Aimed at providing professional brokerage services to private investors and financial institutions involved in income producing multi-family properties and shopping centers, the company has posted steadily increasing sales results. Cervelli has an undisputed reputation on honesty, integrity and experience in the Investment Real Estate Industry.