336 East Westfield Ave. in Roselle Park — Courtesy: The Kislak Co. Inc.
By Joshua Burd
An investor has sold a 24-unit apartment building in Roselle Park for nearly $4.2 million, according to a brokerage team with The Kislak Co. Inc.
In a news release, Kislak said it represented the seller and procured the buyer in the transaction at 336 East Westfield Ave., noting that the three-story brick structure has a mix of studio and one-bedroom units and a rental house with on-site parking for tenants. It also benefits from recent updates such as a new roof, 13 renovated units with new kitchens and bathrooms and common area upgrades.
Kislak Senior Vice President Andrew Scheinerman and Managing Director Jeff Squires completed the sale on behalf of 336 E. Westfield LLC. The buyer, R.P. Westfield LLC, paid $4.125 million in the transaction.
“The sellers retained us on an exclusive basis after having sold them more than 300 units in central New Jersey last year,” Scheinerman said. “They were thrilled with the pricing we achieved and are actively working with us on their next deal.”
The deal marks the third time Squires has brokered the sale of the property, which is a mile from the Roselle Park train station and some 22 miles from New York City.
“We continue to see tremendous investor appetite for well-located garden apartment properties,” Squires said. “Kislak continues to fortify its presence in the region and this transaction marks the third time we have sold this property.”
