226-228 River St. in Hackensack — Courtesy: Courtesy: Cervelli Real Estate and Property Management
By Joshua Burd
Investors have purchased a 28-unit apartment building in Hackensack for $5 million, in a newly announced transaction by Cervelli Real Estate and Property Management.
According to the brokerage team, the property at 226-228 River St. provides residents with elevator service, balconies, garage parking and individual storage units. The sale of the building comes as the city continues to attract buyers and developers after having “been transformed into a magnet for young professionals looking for a convenient live-work-play environment,” Cervelli wrote in its announcement.
The firm added that the buyers “had a high level of interest in the property due to the upside in rents.”
