Top residential, commercial real estate deals of the week — Aug. 24
DEALS OF THE WEEK
A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:
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.
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.
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:
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.
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.
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 email@example.com.