The Kislak Company, Inc. sells Downtown Westfield, NJ redevelopment for $3.7 Million

S.V.P. Tom Scatuorchio & Managing Director Matt Weilheimer arrange exclusive sale

Westfield, NJ — The Kislak Company, Inc. announced the recent sale of a 6,000 s/f retail property with a redevelopment component at 184 Elm St. in downtown Westfield, Union County, for $3,700,000.

Kislak marketed the property on an exclusive basis with senior vice president Tom Scatuorchio and managing director Matt Weilheimer handling the assignment on behalf of the seller, Bronx Realty LLC, and they also procured the purchaser, 184 Elm Street LLC.

Scatuorchio said, “The deal presented many challenges due to the nuanced approvals and building design, which included a need to preserve the property for existing tenants. As advisors for both clients, we were able to navigate through the obstacles to a successful closing. Given the excellent location and walking distance to the train station in downtown Westfield, there was tremendous interest in the site. Our buyers recognized this unique opportunity to develop a property in one of New Jersey’s premier downtowns.”

The property consists of a single-story, 6,000 s/f retail building with an additional 6,000 s/f of rentable basement office space and on-site parking. The site is fully approved for the construction of two additional stories containing ten market-rate apartments above the existing retail space, creating a unique mixed-use redevelopment opportunity in the heart of downtown Westfield. Existing retail tenants include Haven Savings Bank.

Located within walking distance of the Westfield train station, many businesses, restaurants and stores and across from Trader Joe’s, the property benefits from one of New Jersey’s strongest downtown retail and residential markets. Its location provides convenient access to New York City while offering residents and businesses the amenities of a vibrant, walkable downtown.

The buyer plans to construct the approved apartments above the existing structure while leasing the remaining retail vacancy, further enhancing the property’s long-term value.

Tom Scatuorchio joined Kislak in 2016 and specializes in the sale of multifamily and other investment properties throughout northern New Jersey. In 2017, he earned Kislak’s Rising Star award and in 2021 was promoted to vice president. In 2024, he was promoted to senior vice president in recognition of his success as an investment salesperson and his leadership within Kislak’s commercial sales and leasing division. In 2025, he was the co-recipient of the firm’s Sima Kislak Jelin Salesperson of the Year Award.

Matt Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializes in the sale of apartment buildings, REO assets and other investment properties in New Jersey and its surrounding states. Weilheimer has won numerous sales awards at Kislak, including the firm’s 2010 and 2015 Producer of the Year awards.