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Top commercial, residential real estate deals of the week — July 27

| Saturday, July 26, 2014, 9:00 p.m.
Submitted
Three-plus-story frame Victorian in Shadyside recently sold for $583,000.

DEALS OF THE WEEK

A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:

$8,389,441

Properties sold: 3520 Fifth Ave. ($4.021 million), 3518 Fifth Ave. ($2.435 million), 128 N. Craig St. ($1.933 million), Oakland

Seller: Roam Investments Inc. and Roam Keystone LP, Greensburg

Buyer: FAPD LLC and CSPD LLC, Pittsburgh

Details: Acquired two office buildings on Fifth Avenue, fully leased, and commercial and residential condominiums on North Craig.

Comment: “The buildings are fully leased, and we have no plans to make any changes,” said Jim Genstein, the new owner.

$2.1 million

Property sold: 5001 Curry Road, Baldwin Borough

Seller: 5001 Curry Road Associates LP, Pittsburgh

Buyer: Brocato/Colonnade LLC, Pittsburgh

Details: A neighborhood shopping center on five-plus acres, with 43,324 square feet, containing tenants Salvatore's Banquet Hall, McCoy's Pub, and Little Hearts Learning Center.

Comment: “The buyer did a 1031 tax-free exchange purchase, and Burns & Scalo has taken an internal initiative to deploy some of its smaller non-core assets because we have such new opportunity for our capital with the increased demand of the office markets we are investing in,” said James Scalo, Burns & Scalo president.

$1.7 million

Property sold: 5867-69 Centre Ave., East Liberty

Seller: UPMC Presbyterian Shadyside

Buyer: Shady Centre LLC, Mt. Pleasant

Details: Acquired a two-story vacant warehouse building.

Comment: “We had no further use for the warehouse and decided to sell it,” said Susan Manko, a UPMC spokeswoman. The buyer, the George DeLallo Co., declined to comment.

TOP DOLLAR HOMES

Recent home and condominium sales that brought top prices in Western Pennsylvania:

$583,000

Property: Shadyside

Seller: Geoffrey Bond

Buyer: Laila and Robin Lee

Details: Three-plus-story frame Victorian, formal living room and dining rooms, decorative fireplaces, rich hardwood floors, family room open to outdoor courtyard.

Comment: “Buyers found (the) perfect home. They were wooed by its Victorian charm and grace, and the fenced-in backyard (is) great for their pooch,” said Maggie Jayson, Re/Max Select Realty.

$465,000

Property: Squirrel Hill

Seller: Mingen Wang and Hui Ho

Buyer: Ari M. Chester and wife, Pawanya Promarak

Details: Three-plus-story brick Victorian with large entry, hardwood floors throughout, oversized dining room with bay windows, four bedrooms, finished lower level with built-in cabinets, deck, oversized two-car garage.

Comment: “Buyers chose this property because it is a large home, which would accommodate their family, (and the) house was in good condition,” said Susie Silversmith, Coldwell Banker Real Estate.

$428,000

Property: Squirrel Hill

Seller: Helen Vlachos

Buyer: Yasar Sheikh and wife, Erum Khan

Details: Colonial cottage with open floor plan, flooded with natural light, hardwood floors, high ceilings, gas fireplace, spacious open kitchen and dining room with space for decorating, French doors lead to deck, laundry on second, jetted tub, oversized two-car garage, stairway to crawl space.

Comment: “The buyers of this cottage were already renting at Summerset and decided that's where they wanted to own. The open floor plan and grassy side yard were appealing, and just before closing, a daughter was born,” said Marilyn Merenstein, Coldwell Banker Real Estate.

Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.

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