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:
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Address: 35 Northey Street
- Market: Salem, MA
- Square Footage: 15,393
- Price per Square Foot: $188
- Buyer: Mark Blake
- Seller: Michael Hill
- Brokers: Dan Pouladian, Sara Pouladian - Northshore Realty Advisors; Matthew Sears - Armstrong Field Real Estate
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
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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