By Joshua Burd
The site of a 104-unit affordable housing property in Atlantic City has changed hands, in a recent transaction by Cervelli Real Estate.
The firm’s Chris Cervelli brokered the deal at 710 New York Ave., a two-story, garden-style complex about two blocks from Absecon Boulevard. The Section 8 senior housing property includes 84 efficiency apartments and 20 one-bedroom units, according to a listing, which noted that it provides a high value-add opportunity in rents.
The deal involved two unnamed parties. Terms were not disclosed.
