If by “closest” descendant you mean the first child then you can do:
$('#foo').find(':first');
Or:
$('#foo').children().first();
Or, to look for the first occurrence of a specific element, you could do:
$('#foo').find('.whatever').first();
Or:
$('#foo').find('.whatever:first');
Really though, we need a solid definition of what “closest descendant” means.
E.g.
<div id="foo">
<p>
<span></span>
</p>
<span></span>
</div>
Which <span> would $('#foo').closestDescendent('span') return?