ICON Real Estate Advisors has successfully brokered the $2.125 million sale of a six-unit multifamily property located at 57 Glenridge Avenue in Montclair. The transaction translates to approximately $354,000 per unit.
ICON Director Ben Susskind and Managing Partner David Jarvis represented both the seller, Wickner Realty Development Corp., and the undisclosed buyer in the transaction.
Situated just steps from NJ TRANSIT’s Bay Street Station, the property offers residents direct rail access to Manhattan alongside close proximity to Downtown Montclair’s robust mix of shops, restaurants, and cultural destinations.
“Montclair continues to be one of the most sought-after multifamily markets in Essex County, and we saw strong investor interest in this property from the outset,” Susskind said. “57 Glenridge Avenue offered an attractive combination of strong in-place income and proximity to mass transit, in conjunction with a walkable downtown and meaningful upside in rents.”
