Paul J Herrick Acquires 12-Unit Multifamily In Danvers For $3.1M

The Mega Group is pleased to announce the sale of 45 Pickering Street in Danvers, MA. The property is a 12-unit multi-family brick apartment building built in 1970. It is located right outside Danvers Square, between St. Mary's School and the YMCA. The building features eleven 2-bedroom units and one 1-bedroom unit, with heat included in the rents and separate electric throughout. The sale price for this property was $3,100,000, with a price per unit of $258,333. The total square footage is 9,968, resulting in a price per square foot of $311.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,100,000
• Units: 12
• Price Per Unit: $258,333
• Square Footage: 9,968
• Price Per Square Foot: $311
• Market: Danvers, MA

Brookfield Realty Partners LLC, managed by Paul J Herrick, purchased the property from Dustin Kuntz. The transaction was facilitated by Brian DApice of The Mega Group, who represented the buyer. Additionally, the buyers compensated DApice for his brokerage services.

A first mortgage of $2,068,000 was provided by Bill Henning, Vice President Commercial Lending at North Shore Bank. Chris Latham of Latham Law Offices LLC represented the buyers in the transaction, and Arthur Skarmeas of The Law Office of Arthur P. Skarmeas, LLC represented the sellers.

The Mega Group is a full-service commercial real estate firm based in Danvers, MA, specializing in the greater metropolitan Boston area, coastal New Hampshire, and southern Maine.