In Montclair: $7.4M Buildings Sold On Pine Street

Montclair, NJ – The Gebroe-Hammer Associates investment brokerage firm recently announced the sale of 18 units at multi-family homes located at 84, 93 and 95 Pine Street, as well as 38 units at 97 and 101 Pine Street.

The combined sales totaled $7.4 million, according to a news release from the Livingston-based firm.

Each building has “early 1900s-era architectural elements” and is located minutes from the Bay Street Train Station, according to the release.

“The Claremont Avenue/Pine Street neighborhood is primarily made up of low- and hi-rise apartment buildings with studio to four-bedroom units and has one of the highest proportions of studio/one- and two-bedroom real estate in any neighborhood nationwide,” said senior vice president Nicholas Nicolaou, who exclusively represented the owner and identified the buyer in the two trades.

“Most of the residential real estate in this area is renter-occupied by individuals and heads of household who are employed in senior-level positions,” Nicolaou stated.

• See related article: Essex County Seeing a Rising Multi-Family ‘Fervor’, Livingston Real Estate Firm Says

Sign up for Patch email newsletters here.

Send local news tips, photos and press releases to eric.kiefer@patch.com

Photo via Gebroe-Hammer Associates