Brookline-based Newman Properties has acquired 26-unit apartment property in Salem as it expands its portfolio in the North Shore submarket.

Newman paid $4.27 million for 233 Lafayette St., known as the Saltonstall Apartments, which consists of six two-bedroom units, twelve one-bedrooms, five studios, and three efficiency units.

Little & Co. represented the seller and Brian DaPice of the Mega Group represented Newman Properties. Winchester Savings Bank provided mortgage financing for the acquisition.

Newman Properties owns and manages over 500 residential units in the region along with office and retail properties.

Newman Properties Adds to North Shore Portfolio

by Banker & Tradesman time to read: <1 min
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