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ROSELLE PARK, NJ-Esquire Realty has sold 22 Westfield Ave. East, a 17-unit, three-story apartment building, to Warinanco Gardens, for nearly $1.9 million, or just less than $109,000 per unit. The property also contains an insurance agency office on the ground floor. Both the buyer and seller, local groups, were represented by Jeffrey Squires, sales associate with the Kislak Co., Woodbridge.

“We have been specifically targeting all-cash buyers as a result of the current mortgage market,” says Squires, noting that this was in fact an all-cash deal. “The new owner will apply for financing only after completion of the sale. The trend allows us to expedite completed transactions without any major issues.”

This particular offers separate utilities and under-market rents, according to Squires. “The new owner will continue to invest in improvements benefiting the tenants and adding future value to the income-producing property.”

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