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Northey Street

Mark Blake Purchases Multifamily Property From Michael Hill For $2.9M In Salem MA
SOLDMultiFamily

Mark Blake Purchases Multifamily Property From Michael Hill For $2.9M In Salem MA

Northey Street

$2,900,000

$188/SF

Building Size

15,393 SF

Asset Type

MultiFamily

Closing

Oct 15, 2025

AI

The asset involved in this transaction is a multifamily property located at 35 Northey Street in Salem, MA. The sale price of the property was $2,900,000. The total square footage of the asset is 15,393, which gives a price per square foot of $188.

Summary of transaction details:

This transaction involved Mark Blake as the buyer and Michael Hill as the seller. The brokerage representation included Dan Pouladian and Sara Pouladian from Northshore Realty Advisors, along with Matthew Sears from Armstrong Field Real Estate. Note from broker: Northshore Realty would like to congratulate all parties involved on this successful transaction for Northey Street in Salem.

Players

Dan Pouladian

Northshore Realty Advisors

Broker

$304.3M

vol

68 deals

Broker
Northshore Realty Advisors
Northshore Realty AdvisorsBrokerage

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

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93