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A portfolio of six commercial properties anchored by Crosby’s Marketplace in downtown Marblehead transferred Feb. 6 in a transaction valued at $9,675,000, according to records filed with the Southern Essex Registry of Deeds.
Crosby Marblehead Realty LLC transferred the properties to two entities: The Goldberg Brothers Real Estate LLC, which holds a 61% ownership interest, and Marblehead Wash RE LLC, which holds 39%, according to the deed. Both buyer entities list a Beverly business address. The deed establishes a joint ownership structure in which Goldberg Brothers retains a majority interest in the properties.
According to Independent research, Goldberg Properties is a private, family-owned real estate company based in Beverly with long-standing ties to the North Shore. The company says it owns more than 100 commercial, residential and retail properties across the North Shore and nearby communities, built up over several generations.
James G. Crosby and Christopher J. Crosby signed the deed as managers of Crosby Marblehead Realty LLC, according to registry filings.
The properties are located at 118-120, 122, 126 and 128 Washington St., along with 10R Darling St. and 11 State St., forming a significant stretch of downtown’s Washington Street commercial corridor.
Crosby’s Marketplace operates at 118 Washington St., anchoring the portfolio. Other businesses in the supermarket building include an Eastern Bank branch and Hip Baby Gear.
Tenants at 122 Washington St. include Joe Greene Insurance Agency, also known as M.R. Shaw Insurance; Garrity Insurance and TQM Wealth Partners.
Sea Salt Marblehead and The Muffin Shop operate at 126 Washington St. The building at 128 Washington St. houses Marblehead Candle Company, Marblehead Knits and Shipshape. Whitney Law Group operates at 11 State St. The parcel at 10R Darling St. is a parking lot and does not list a separate commercial tenant.
According to town assessing records maintained by Patriot Properties, the six parcels carry a combined assessed value of $11,652,700. The $9,675,000 transfer price represents approximately 83% of that total assessment. The five developed parcels contain about 41,040 square feet of finished building area, excluding the 10R Darling St. parking lot.
Registry filings show the transaction was financed with a $9 million mortgage from Institution for Savings in Newburyport and Its Vicinity. A separate $2,525,000 mortgage secured by the same properties was also recorded the same day.
Together, the filings reflect more than $11.5 million in secured debt associated with the transfer.
William H. Goldberg, Steven J. Goldberg, Andrew D. Goldberg and Richard B. Goldberg signed the mortgage documents as managers of the purchasing entities, according to registry records.
The deed indicates Crosby Marblehead Realty LLC previously acquired the properties in 2007, according to the registry. The 118 Washington St. building previously housed Penni’s Market, a longtime neighborhood grocery that operated in the downtown corridor. In 1995, an expansion of the store was severely damaged by a fire, a turning point in the property’s history that led to the site’s redevelopment and the eventual opening of Crosby’s Marketplace later in the decade.
The transaction reflects a transfer of real estate ownership only. The recorded documents do not establish that any underlying business operations, including Crosby’s Marketplace, were sold.
Attempts to reach Andrew D. Goldberg and Christopher J. Crosby by email and phone were unsuccessful.
The registry documents do not disclose lease terms, rental income, future plans for the properties or the reason for the transfer.
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