News: Front Section
Posted: June 9, 2023
Herrick Lutts Realty Partners completes $2.075 million 17-unit portfolio sale
Salem, MA Herrick Lutts Realty Partners has completed the sale of 17 apartment units in three separate buildings in the city.
Herrick Lutts partner Nick Zolotas represented the seller. The property includes three separate buildings located at 151, 153 and 157 North St., as well as 2 School St. The selling price for the property was $2.075 million. The property was purchased by 151 North Street, LLC, of Danvers, Mass.
“Salem is a city that is thriving,” said Zolotas. “It is a very desirable community for people who live and work north of Boston. We have worked with many property owners, both commercial and residential, in Salem, and know the city and its properties very well. We are here to help with both commercial and residential real estate needs.”
The city, with a population of nearly 45,000, is rich in its historical heritage, including the Peabody Essex Museum, and its notoriety as “witch city,” dating back to the 1692 witch trials. It is also said to be the birthplace of the American military. In 1628, governor John Endecott was authorized to create an official militia to defend the town. All men between ages 16 and 60 were obligated to serve. The first muster of the militia took place on Salem Common in 1637.
Herrick Lutts also brokered the sale of a six-unit brick apartment building at 51 Lynde St. in Melrose, Mass.
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