S.V.P. Robert Squires Arranges Exclusive Sale of 24 Units in Passaic County
Woodbridge, N.J., September 9, 2026 – The Kislak Company, Inc. announced the recent sale of two adjacent apartments buildings with a total of 24 units at 185-191 Grove Street in Passaic, Passaic County, New Jersey, for $5,000,000.
Kislak marketed the properties on an exclusive basis with senior vice president Robert Squires handling the assignment on behalf of the seller, 185-189 Grove St. LLC. Mr. Squires also procured the purchaser, which was not disclosed.
Allen J. Popowitz, Esq. of Brach Eichler LLC was the seller’s attorney and William P. Schey, Esq. was the purchaser’s attorney. The acquisition was financed by M&T Bank, with Andrew Wexler of A2 Financing arranging the financing.
Mr. Squires commented, “I sold these properties to the owner 12 years ago and it was their first acquisition. Since then, I have helped them acquire and sell more than $50 million of real estate. Our successful marketing efforts resulted in 12 qualified offers in just three weeks, allowing us to achieve a record price. This transaction is a great example of our longstanding client relationships, intimate knowledge of the Passaic market, and our ability to identify the right buyer to achieve the best price and terms.”
The properties consist of two well-maintained side by side apartment buildings, each with 12 spacious three-bedroom units, and a rear parking lot. The buildings have undergone extensive renovations, including the modernization of 17 units as well as updates to the common hallways, stairwells, and flooring. The buildings were 100% occupied at the time of sale and have maintained a strong rental history, offering the purchaser a turnkey investment with stable in-place income.
Located in the heart of Passaic, the property benefits from strong rental demand, a dense residential population, and convenient access to Routes 3, 21 and 46, Interstate 80, and the Garden State Parkway. Public transportation, shopping, schools, and major employment centers throughout Northern New Jersey continue to support the city’s multifamily market. The combination of limited housing supply, consistently high occupancy, and strong rental fundamentals has made Passaic one of Northern New Jersey’s most active markets for apartment building investment.
