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248 Washington St, Salem, M...

Jay Goldberg's Spire Investments Acquires Multifamily Property In Salem, MA For $6.1M
SOLDMultiFamily

Jay Goldberg's Spire Investments Acquires Multifamily Property In Salem, MA For $6.1M

248 Washington St, Salem, Massachusetts, USA

$6,100,000

$741/SF

Building Size

8,227 SF

Asset Type

MultiFamily

Closing

May 13, 2021

AI

The multifamily property located at 248 & 296-300 Washington St. in Salem, MA has been sold for a total price of $6,100,000. The transaction took place on May 14, 2021. The property consists of 35 units, and the buyer of the property is Jay Goldberg of Spire Investments. The sale was facilitated by brokers Bill Little and Francesca Little.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $6,100,000
  • Units: 35
  • Buyer: Jay Goldberg - Spire Investments
  • Brokers: Bill Little & Francesca Little

Jay Goldberg of Spire Investments acted as the buyer in this transaction. The brokers involved in the deal were Bill Little and Francesca Little.

Players

William Little

Coldwell Banker

Broker

$6.1M

vol

1 deal

Broker
Jay Goldberg

Jay Goldberg

Spire Investments

Buyer

$87.1M

vol

13 deals

Buyer

Salem 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

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93