376 Bergen Ave. in Jersey City — Courtesy: Cervelli Real Estate & Property Management
By Joshua Burd
The owner of a 10-building, 316-unit affordable housing portfolio in the state has tapped Cervelli Real Estate & Property Management to oversee the assets.
According to the North Bergen-based firm, the assignment includes what’s known as Solar Village in the Monmouth County borough of Roosevelt. In Jersey City, Cervelli also now manages the 43-unit Forrest Senior Apartments and Ocean Green properties, which house a combined 87 units and are supported by the federal Low-Income Housing Tax Credit program.
Additionally, the assignment includes the 40-unit Midtown Senior and 42-unit Westlake properties, both in Neptune, which are also subsidized by the federal program, and the Annie Mahnken Apartments in Bayonne. Other buildings in the portfolio include the 46-unit Toy Factory, the 44-unit Fred Martin and 99 Rutgers, all in Jersey City.