Dennis Kelleher, Stephen Girolamo & John Pentore Of Horvath & Tremblay Sell Danvers Multifamily For $10M
23 Prince Street
$10,000,000
$239/SF
Building Size
41,680 SF
Asset Type
MultiFamily
Closing
Sep 17, 2025
AI
The property asset involved in the transaction is a multifamily building located at 23 Prince Street in Danvers, MA. It was sold for $10,000,000, encompassing 22 units within a total square footage of 41,680, resulting in a price per unit of $454,545 and a price per square foot of $239.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Units: 22
- Square Footage: 41,680
- Price Per Unit: $454,545
- Price Per Square Foot: $239
- Date of Transaction: 9/18/2025
- Address: 23 Prince Street, Danvers, MA
- Broker Representatives: Dennis Kelleher, Stephen Girolamo & John Pentore - Horvath & Tremblay
The transaction was represented by brokers Dennis Kelleher, Stephen Girolamo, and John Pentore from Horvath & Tremblay, who facilitated the dealings for this multifamily property in the Danvers market. Their expertise contributed to the successful closing of this sale.
Players
Danvers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93