PASSAIC, NJ-The 43-unit, five-story elevator apartment complex at 37-47 Westervelt Place here has been sold for just more than $4.1 million, or about $95,600 per unit. Two local investor groups were involved, with 37-47 Westervelt Place LLC picking up the property from OSBF LLC. Both sides were represented by sales associate Robert Squires of the Kislak Co., Woodbridge.

“This was a very complex transaction,” says Squires, in a statement. “The timing of the financing was extremely important due to current conditions in the capital markets. There was competition between multiple brokerage firms to exclusively represent the owner.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.