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Montclair residential nets $17.25M

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39-41 N. Fullerton Ave., Montclair
39-41 N. Fullerton Ave., Montclair - ()

The Kislak Co. Inc. on Wednesday announced the sale of 70 residential units in Montclair for $17.25 million.

Vice President Joseph Keenan represented both the buyer, Oak Tree Capital LLC, and the seller, Falad Properties LLC, in the deal.

The units are shared between two properties.

31-49 N. Fullerton Ave. is a five-story building with 68 units. 36 Forest Ave. is a three-story house with two units. The latter property had previously been purchased with the intent to expand parking for residents of the Fullerton Avenue property.

Joshua Herbst served as legal representation for Oak Tree Capital, and David Faloni represented Falad Properties.

Financing for Oak Tree was provided by Oritani Bank.

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Jessica Perry

Jessica Perry

Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

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