244 Lawton Ave. in Cliffside Park — Courtesy: Cervelli Real Estate & Property Management
By Joshua Burd
The owners of 131 apartments in Hudson and Bergen counties has hired Cervelli Real Estate & Property Management to oversee the eight-building portfolio.
The North Bergen-based firm said it’s working on behalf of a family that recently inherited the buildings, noting that the clients had no prior real estate management experience and suddenly were responsible for several large buildings. The properties include:
- 5401 Palisade Ave. in West New York
- 8301 4th Ave. in North Bergen
- 3509 Hudson Ave. in Union City
- 9100 2nd Ave. in North Bergen
- 4715 Park Ave. in Union City
- 416 38th St. in Union City
- 244 Lawton Ave. in Cliffside Park
“Prior to them taking over, another family member had been mismanaging the portfolio and properties fell into despair riddled with vacant units, code violations and mismanaged finances,” Cervelli wrote in its an announcement. “Totaling over 100 apartments, the plan is to stabilize the assets by increasing income and reducing expenses.”
