SalemNews.com, Salem, MA

August 16, 2013

The living is chic in downtown Salem

By Lillian Shapiro
Director of Real Estate Advertising

---- — Thanks to the efforts of a conscientious developer and the resurgence of the condo market, one of Salem’s most prestigious addresses is back on the market. Complete with an enviable downtown location and views to rival any major cosmopolitan city, Derby Lofts’ penthouse, newly listed for $369,900 by MerryFox Realty, is ready and waiting for one lucky buyer.

While this building has always maintained the highest of standards put forth by local investment/development company RCG LLC, it is undergoing a number of upgrades to its already top-notch structure, including weather- and waterproofing around windows and decks. “Because we still sustain several units in the building, we are able to monitor the maintenance very well and stay on top of whatever may need improving,” says David Steinbergh, principal. “We started this project in 2005 at the height of the market and finished it up by selling all 52 residential units. Now there is this great opportunity to be the very first owner of the penthouse unit. If what we are seeing in Boston is any indication, now is the perfect time to buy in Salem before these start appreciating.”

Complete with 11- to 12-foot ceilings, gleaming wood floors and walls of oversized windows, this home is reminiscent of a fine New York City apartment, according to Realtor Betsy Merry. “Regardless of age, we are finding that people want to be in a fun, active downtown area. They want to walk to restaurants, museums, quaint shopping and the waterfront. They want that European-like lifestyle with a sense of community. Complete with a concierge and valet service, this is truly one of the only luxury buildings of its kind in Salem.”

Offering nearly 1,500 square feet, this unit has an open and sensible floor plan. The living and dining rooms featuring panoramic vistas of the harbor are flanked by a state-of-the art kitchen boasting granite counters and stainless steel appliances. Rounding off this loft are two bedrooms, two full baths, an in-unit laundry and a large storage area that could easily be converted to an office.

Adding to its appeal, Derby Lofts is a “pet-friendly” building with easy access to city parking garages, as well as the commuter rail.

“RCG is a very well-respected investor in the Greater Boston area, and their reputation has helped to spur interest in this property, as well as others throughout Salem,” says Realtor Dan Fox. “They have a formula that works, one that’s been proven time and again in Boston and Cambridge and now here. There is little doubt that an investment in Salem now is a great investment in the future.”

For more information on this condominium or to schedule a private showing, call Betsy Merry at 508-641-6241 or Dan Fox at 978-808-8064.