TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Top commercial, residential real estate deals of the week — May 18


On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Home & Garden,
Real Estate Photo Galleries

Saturday, May 17, 2014, 9:00 p.m.
 

$240 million

Properties sold: 124-room Marriott Courtyard Settlers Ridge, Robinson ($23.5 million); 109-room Marriott Fairfield Inn & Suites, Neville Island ($8.8 million); 105-room Marriott Courtyard, Greensburg ($17.6 million); 124-room Marriott Courtyard, Washington ($16.7 million)

Seller: Concord Sierra Associates LP, Sewickley and Raleigh, N.C.

Buyer: Black Sapphire C, Wilmington, Del.

Details: Concord Hospitality sold 13 hotels — four locally — to companies owned by a global investment fund but continues to operate them under a long-term management agreement.

Comment: “This sale is a continuation of our plan to strategically sell stabilized assets while retaining management,” said Mark Laport, Concord CEO.

$1.225 million

Properties sold: 411 Fort Pitt Blvd. and 414-16 First Ave., downtown Pittsburgh

Seller: GMCC Inc., Pittsburgh

Buyer: Fort Pitt Associates LP, Carnegie

Details: Three vacant buildings with a total of about 23,500 square feet. Several buildings are four stories.

Comment: “We have no definite plans for the property, which could be for a hotel or even a parking lot,” said Greg Erosenko of the Forza Group, the buyer.

$600,000

Property sold: 1004-06 Fifth Ave., Uptown Pittsburgh

Seller: Nathan Rice Inc.

Buyer: Duquesne University Holy Spirit, Pittsburgh

Details: The former Kadet Photo Building has been empty for about 15 years. It is directly across from the Consol Energy Center.

Comment: “Restoring this building ... is a strategic approach that helps Duquesne while, at the same time, enhances the neighborhood,” said Rod Dobish, executive director of facilities management.$1,870,200

Property: Hampton

Seller: David and Sandra Andrews

Buyer: Andrew & Ping Tepper

Details: Two-story brick Provincial on more than five acres has heated driveway, whole-home audio/video and intercom, vaulted ceilings, gardens with waterfall.

Comment: “Buyers loved the private five-plus-acre homesite, top-rated Hampton schools, outdoor entertaining space with fireplace and water feature,” said Kevin Mihm of Coldwell Banker Real Estate.

$735,000

Property: Mt. Lebanon

Seller: Andrew and Paula Pellegrino

Buyer: Bridger and Caitlin Clarke

Details: Two-level brick Williamsburg Colonial. Master bedroom has vaulted ceiling, dressing room with lots of closets, spa light master bath.

Comment: “Buyers liked the neighborhood, its architecture and Old World charm,” said Cindy Sunseri of Howard Hanna Real Estate

$675,000

Property: Murrysville

Seller: Mark Krofchik

Buyer: Christopher and Kara Griffin

Details: Two-story brick and stucco Tudor with five bedrooms, 4½ baths, columned entry hall, bay windows, four fireplaces, large kitchen with Jen Air stainless-steel appliances.

Comment: “Buyers liked the neighborhood, loved the Tudor-style home that has Old World, Southern charm,” said Jackie Shermenti of Howard Hanna Real Estate.

— Sam Spatter

 

 
 


Show commenting policy

Most-Read Stories

  1. Nutting says Pirates may ‘stretch’ for Martin
  2. Stocks slammed as manufacturing slows in U.S., abroad
  3. NFL notebook: Ravens receiver Smith Sr. says he was ‘stabbed in back’ by Panthers
  4. Consol Energy cutting retiree health benefits, phasing out pension
  5. Enterovirus D68 case confirmed in southwestern Pennsylvania
  6. Donetsk rattled by explosions; airport at risk
  7. Jobs on state website include ‘private party dancing,’ ‘car dates’
  8. Fans flock to what they hope will continue ‘magical season’
  9. City wants Leon Ford’s federal lawsuit put on hold
  10. News Alert
  11. Connellsville Township VFD given $61,750 Homeland Security grant
Subscribe today! Click here for our subscription offers.