September 18, 2025 – Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have successfully completed the sale of Spring Meadow, a twenty-two-unit multi-family Property in Danvers, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer in the transaction. The desirable asset sold for $10,000,000 and $454,545 per unit.
Spring Meadows is located at 23 Prince Street in Danvers, Massachusetts. The multi-family property consists of three (3) buildings and contains a total of twenty-two (22) units, comprised entirely of 3+Bedroom/1.5-Bathroom direct entry townhouse units with 41,680 square feet of gross leasable area in 55,324 square feet of total gross area on a large 11.91-acre parcel. The Property has been well-maintained by current ownership and features ample off-street parking with forty-six (46) spaces and separate utilities with HVAC systems throughout and laundry hookups in each unit. Large units (approximately 2,000 square feet) offer spacious layouts with finished walkout basements, and many units have been renovated with granite countertops and stainless-steel appliances. The Property offers upside through programmatic upgrades to the unrenovated units and by implementing additional improvements to modernize finishes and fixtures in the renovated units. Spring Meadows is situated on Prince Street just off of Centre Street in a desirable, suburban neighborhood in Danvers. The Property enjoys excellent connectivity to major transportation routes, featuring incredible access to Interstate 95 and US Route 1, the primary commuter and commercial highways in the North Shore, offering convenient access to the other major roadways in the Greater Boston area. Public transportation is available on MBTA Bus Routes 435 and 436 at the Liberty Tree Mall. Spring Meadows is convenient to area schools (less than 0.5 miles from Highlands Elementary School), restaurants and bars, area shopping, entertainment venues and is less than 2 miles from the heart of downtown Danvers.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.