Marblehead Sells 114-Year-Old School Building For $810,000

MARBLEHEAD, MA — The town of Marblehead agreed to sell the 114-year-old Gerry School building to Charing Cross Realty Trust for $810,062.

According to Wicked Local Marblehead, which first reported this story, Charing Cross will redevelop the property into seven or eight condos with parking for 16- to 18 cars. The town, which expects the redeveloped property to generate $70,000 in annual property tax revenue, will require the developer to maintain the building's facade and will retain a playground and public right-of-way adjacent to the lot.