Bank of America building sold to West Orange firm
The prominent Bank of America building at the corner of Bloomfield and Glenridge avenues has been purchased by Hub Realty of West Orange.
By LINDA MOSS
A West Orange real estate firm has purchased the former Bank of America building on Bloomfield Avenue in Montclair, the latest sale of a property on a high-profile corner on that busy corridor.
Hub Realty has acquired the building at 441 Bloomfield Ave., on the corner of Bloomfield and Glenridge avenues, according to Les Lustbader, whose family owns the firm. The low-profile Lustbader family has spent decades establishing a portfolio of real estate holdings in North Jersey and Manhattan.
“Over the course of 40 years in the real estate industry The Hub has emerged as a leading operator of high-end boutique-style residential properties in New York and New Jersey,” Hub Realty’s website says. “Privately owned and family run, The Hub specializes in land acquisition, development, daily leasing and management.”
Lustbader declined to discuss his company’s plans for the building, whose entrance is framed by two Ionic columns. But the structure has a sign that says it is for lease, with TriState Commercial listed as the broker. TriState declined to comment.
Bank of America closed its branch at the Bloomfield Avenue site Nov. 1 last year.
Just a block away, on the corner of Bloomfield and North Fullerton avenues, the Hampton House building is being sold to Montclair commercial landlord and developer Dick Grabowsky. He plans to renovate and to transform the former high-end furniture store into retail and office space.
There is a vacant storefront on a third prominent downtown corner, at Bloomfield Avenue and South Park Street.