Salem, MA The father-son duo of Richard and Jay Goldberg received Historic Salem’s 2022 Preservation Award on September 25, for their development of The Breakaway at Salem Common.
“Investing today for the future, to preserve the past,” said Richard Goldberg. “That was the mission of restoring Nathanial Silsbee’s mansion (circa 1819) on Salem Common. The building was in disrepair and required significant updating to both preserve and honor the historical significance of this Salem landmark.”
As Spire Investment’s inaugural premier project, The Breakaway at Salem Common previously was a single-family mansion and former Knights of Columbus function hall that transformed into 30,000 s/f of 18 one-, two- and three-bedroom apartments.
“There was a tremendous amount of risk because we committed to purchasing this property early on and needed several variances,” said Jay Goldberg. “Developing the property during COVID, supply shortages, and construction cost increases presented various challenges. Yet, we spared no costs to make this one of the best apartment living options on the North Shore.”
At record rent per s/f, The Breakaway at Salem Common boasts original marble and intricate woodwork, in addition to preserved fireplaces, restored staircases, doors and brick exterior.
“The best part about this project is that I had the opportunity to work with my father and complete something truly challenging during our lives while leaving a legacy behind at the same time,” said Jay Goldberg.
“This project would not have been successful without a collaborative team effort among all our contractors and vendors who delivered high-quality work from start to finish. We are grateful to everyone involved in making The Breakaway come to life,” said Richard Goldberg.
Goldberg and Goldberg summed up their reaction upon receiving the Preservation Award, “We are humbled by the feedback from the residents and the community, knowing that people can truly enjoy living in a unique and historical building while at the same time, appreciate the modern amenities and finishes. A perfect combination of Salem’s roots and Salem’s future. It is an honor to be awarded this prestigious accolade.”
Spire Investments invests, owns, and manages assets ranging from commercial to residential properties throughout New England.
The company brings together decades of real estate investment and management experience with a modern approach to acquiring and overseeing properties that will generate the greatest value today and for years to come. Spire Investments is focused on growth and returns while building long-term relationships with tenants, investors, and brokers, as well as with the communities it’s a part of.