Fullerton Property Management Acquires Montclair Package Deal For $13.5M

10 Roosevelt Pl and 47 N. Fullerton Ave, located in Montclair, NJ, have been sold in a package deal for $13,500,000. The properties consist of 56 residential units and 1 commercial unit, totaling 48,042 square feet. The sale price reflects a price per square foot of $281. These highly desirable brick buildings are situated in a prized Transit Village at the base of the First Watchung Mountain, conveniently located within walking distance of both the Walnut Street and Bay Street train stations.

Summary of transaction details

• Property Type: Package Deal
• Transaction Amount: $13,500,000
• Market: Montclair
• Address: 10 Roosevelt Pl & 47 N. Fullerton Ave
• Buyer: Fullerton Property Management
• Seller: 10 Roosevelt and 47 Fullerton LLC

Hudson Atlantic Realty, represented by Adam Zweibel, facilitated the sale of these properties. Despite the challenges posed by an unresolved rent control issue tied up in court, Hudson Atlantic Realty was able to secure aggressive pricing for the deal. The seller chose Hudson Atlantic Realty due to their reputation for identifying active and aggressive buyers to maximize selling prices. These iconic walk-up buildings, located in a highly sought-after section of Montclair, have been owned by the seller for the past 25 years.

Founded by Jeffrey Otteau and Adam Zweibel, Hudson Atlantic Realty specializes in providing brokerage services to property owners, investors, and commercial real estate developers. With this latest closing, the company has achieved significant success in the commercial real estate industry, with approaching year-to-date sales of over $150 million.