SMC Management Purchases 59-Unit Multifamily Asset From Eric J. Chinburg For $13.7M

The property involved in this transaction is a multifamily asset located at 24 Essex Street, Haverhill, MA, featuring 59 units. The total sale price for the property was $13,700,000, resulting in a per-unit price of $232,203.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,700,000
• Units: 59
• PPU: $232,203
• Buyer: SMC Management
• Seller: Eric J. Chinburg - Chinburg Properties
• Brokers: Biria St. John, Brian Bowler, John McLaughlin & Simon Butler - CBRE

CBRE facilitated this transaction, representing seller Chinburg Properties in the sale of Ellis Factory Lofts to buyer SMC Management, marking a significant deal within the Haverhill market.