Spire Investments Acquires Multifamily Property In Gloucester, MA For $3.55M

An 18-unit multifamily property located at 16 Magnolia Avenue in Gloucester, MA has been sold for $3,555,000. The property, spanning 10,756 square feet, was sold by Stephen Girolamo and Jay Goldberg. The sale was facilitated by broker Stephen Girolamo of Horvath & Tremblay on behalf of the buyer Spire Investments, represented by Jay Goldberg. With a price per unit of $197,500 and a price per square foot of $331, this transaction highlights the strong demand for multifamily assets in the area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,555,000
• Units: 18
• Price Per Unit: $197,500
• Square Footage: 10,756
• Price Per Square Foot: $331
• Location: 16 Magnolia Avenue, Gloucester, MA
• Market: Gloucester, MA

This transaction involved Spire Investments as the buyer, represented by Jay Goldberg, and Stephen Girolamo of Horvath & Tremblay as the broker. The sale emphasizes the successful collaboration between the buyer and their dedicated representative, showcasing the expertise and capabilities of both parties involved.