Managing Director Jeff Squires Arranges Exclusive Sale of 10 Units in Union County for Record Price Per Unit

Woodbridge, N.J., March 31, 2026 — The Kislak Company, Inc. announced the recent sale of a new luxury apartment building with 10 units at 440 North Avenue East in Westfield, Union County, New Jersey, for $4,800,000.

Kislak marketed the property on an exclusive basis with managing director Jeff Squires handling the assignment on behalf of the seller, 440 North Avenue East, LLC. He also procured the purchaser, which was not disclosed.

The sale price represents the highest price per unit achieved for a multifamily property with at least 10 units in Westfield in at least 10 years and the highest price per unit achieved in Union County since 2023 according to data available from CoStar.

Commenting on the sale, Mr. Squires said, “We had tremendous interest from our investor clients and received several competitive offers within the first week of marketing the property.  The building ultimately sold for full asking price to an investor completing a 1031 Exchange.”

The 10-unit Class A building consisting of spacious two-bedroom, two-bathroom apartments featuring open floor plans, high-end finishes, and private garages. Of the 10 units, eight are market rate and two are affordable. The building features expansive 1,500-square-foot apartment layouts with top-of-the-line finishes and a full amenity suite, including a fitness center, resident business lounge, package room, dog run and washing station, outdoor grilling and patio areas and electric vehicle charging stations. Each unit is equipped with central HVAC and in-unit washer/dryers, with tenants responsible for their own utilities, providing operational efficiency for ownership.

Situated less than 25 miles from New York City, the property is in Westfield, one of northern New Jersey’s most affluent communities, known for its vibrant downtown, rail service to Manhattan, and top-rated school system.  The surrounding area features strong demographics, with average household income exceeding $220,000 within a one-mile radius.

Jeff Squires joined Kislak in 2007 and specializes in the sale of multifamily and other investment properties throughout northern New Jersey. Consistently among Kislak’s leading salespeople, he received the firm’s 2008 Rookie of the Year award, 2012 and 2025 Sima Kislak Jelin Salesperson of the Year award and 2014 and 2016 Producer of the Year award. He was promoted to a managing director in 2024.

About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s thirty-five professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.

Now in its 120th year, Kislak was among a select group of firms recognized as a 2025 Power Broker by CoStar Group, Inc. and this was the firm’s 20th consecutive recognition. For the second consecutive year, Kislak was named by NJBIZ as one of its Leaders in Real Estate, Construction and Design in New Jersey.