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Top residential, commercial real estate deals of the week — Aug. 24

| Saturday, Aug. 23, 2014, 9:00 p.m.
Submitted
This Squirrel Hill property recently sold for $801,000.

DEALS OF THE WEEK

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

$1,218,800

Property sold: 1909 New Texas Road, Plum

Seller: PS Building LTD, Volant

Buyer: Zephyr Properties PN LLC, Longwood, Fla.

Details: Acquired a 25,600-square-foot flex office/warehouse, occupied by ProSource, a flooring company, with Agency Cosmetics as a new tenant.

Comment: “We will continue the current use of the building as an investment,” said James Treweek, general partner.

$1.2 million

Property: 303-09 Smithfield St., Downtown Pittsburgh

Seller: James A. Malanos (Baker Young Corp.), receiver for MDL/309 Associates LLP

Buyer: DK Development LLC, Pittsburgh

Details: Six-story, 30,174-square-foot office building, built in 1930 and renovated in 2004, 30 percent leased.

Comment: “We will put on a new roof, do some cleanup, and attempt to lease the remainder of the building since this is an investment,” said Dan Spanovich, partner.

$800,000

Property sold: 120 S. Whitfield St., East Liberty

Seller: East Liberty Development Inc.

Buyer: Y Hotel LP, Pittsburgh

Details: Former five-story East Liberty YMCA, which will be renovated into an estimated $23 million boutique hotel with 63 rooms, a restaurant, a ballroom and a gym.

Comment: “Everything is moving ahead with the Ace Hotel as planned and construction is under way, with an opening within a year,” said Nathan Cunningham, sole member, Y Hotel Management Partners LP. Other participants are Matt Ciccone of Edile LLC, Claire Hosteny of East End Development Partners and Tom Bost of Bost Development.

TOP DOLLAR HOMES

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

$801,000

Property: Squirrel Hill

Seller: David and Lisa Hackam

Buyer: Roman Danyliw

Details: Three-plus-story stucco Tudor with family room and den on first, hardwood floors, eat-in kitchen, mudroom, office that can become sixth bedroom, screened-in balcony, fenced in yard.

Comment: “Buyers loved the large eat-in kitchen, three-car garage, first-floor family room and master suite,” said Ann Greathouse, Howard Hanna Real Estate.

$710,000

Property: Pine Township

Seller: James Rogers

Buyer: David and Claudia Goldby

Details: Two-story brick Provincial with hardwood floors, oversized windows, kitchen open to family room, four large bedrooms, spa-like master bath, big mudroom off garage/laundry room, finished lower level with bar and full bath.

Comment: “Buyers were attracted to the open floor plan and sunken family room, the breakfast area surrounded by windows overlooking the flat backyard, the finished game room with bar, perfect for big game days, loved the community and school district,” said Kim Marie Angiulli, Coldwell Banker Real Estate.

$400,901

Property: Squirrel Hill

Seller: Craig Maloney and Elisa Tragni

Buyer: Jeremy and Sara Weber

Details: Two-story house with side porch overlooking yard, near Schenley Park, has new kitchen, new master bath, refinished hardwood floors, central humidifier/air filter, large laundry room.

Comment: “Buyers liked the location and being close to Schenley Park and the universities. They also liked the updates that the home offered,” said Julie Treemarchi, Howard Hanna 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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