Updated Aug 24, 2026
Wickner Realty Development Corp Sells Multifamily Property At 57 Glenridge Avenue For $2.125M
57 Glenridge Avenue
$2,125,000
Units
6
Asset Type
MultiFamily
Closing
Aug 20, 2026
About this deal
AI
A multifamily property located at 57 Glenridge Avenue in Montclair, New Jersey, has been sold for $2,125,000. The asset consists of six units, resulting in a price per unit of $354,167. The property's vicinity to NJ TRANSIT’s Bay Street Station and Downtown Montclair has contributed to its attractiveness among investors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,125,000
- Units: 6
- Price Per Unit: $354,167
- Seller: Wickner Realty Development Corp
- Brokers: Ben Susskind & David Jarvis - ICON Real Estate Advisors
ICON Real Estate Advisors facilitated the transaction, representing both the seller, Wickner Realty Development Corp., and the undisclosed buyer. The strategic location of the property was a significant factor driving investor interest.
Players
Stony Brook MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93