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Top commercial, residential real estate deals of the week
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By Sam Spatter
Published: Saturday, October 6, 2012, 9:00 p.m.
Updated: Tuesday, February 19, 2013
DEALSOF THE WEEK
$23 million
Property acquired: Assisted living complex, Copley, Ohio,
Buyer: Concordia Lutheran Ministries, Cabot, Pa.
Seller: Jeffrey T. Heintz of Brouse McDowell, receiver.
Details: Summer on Ridgewood in Copley has operated under a receivership since 2008. Built in 2003, it has 22 villas, 79 apartments, 40 assisted living beds and 48 skilled nursing beds. Occupancy is 78 percent.
Comment: “Concordia has been looking for quite some time for an opportunity to expand our mission to serve seniors outside of western Pennsylvania ... and our board believes Summer offers an excellent first step,” said Keith Frndak, Concordia CEO.
$665,000
Property: 634 Maryland Ave., Shadyside
Seller: James R.Katz
Buyer: Aman & Nikhil Properties LLC
Details: Six-unit apartment building, with three one-bedroom units and three two-bedroom units, in a irregular rectangular building, with a coin-operated laundry.
Comment: “Buyer purchased the building as an investment,” said Ted Knowlton who teamed with Mitchell Cowan, both with Coldwell Banker Real Estate.
$600,000
Property: 1495 Mercer Road, Ellwood City
Seller: Olde Stonewall Golf Club LP, Ellwood City
Buyer: Olde Stonewall LLC, Beaver County
Details: 18-hole golf course, of about 183 acres, opened in 1999, has a 33,000-square-foot clubhouse that includes Shakespeare's Restaurant, men's and women's locker rooms, a pro shop and banquet facility for up to 450 people, is located across from Connoquenessing Country Club,
Comment: “Rick Hvizdak sold the club for personal reasons,” said Susan M. Lesczynski, of Walnut Capital Management Inc. and Real Estate Services Inc.
TOP DOLLAR HOMES
$720,000
Property: Shadyside
Seller: Katherine E.Ayres
Buyer: Robert and Concetta Mitro
Details: New Victorian home with new front stone patio and stairs, patio deck, garden and courtyard in rear, open floor plant on first, bay windows and plantation shutters, first floor laundry, central air on first and second floors.
Comment: “Family formerly lived in Squirrel Hill, moved to Fox Chapel, decided they prefer west Shadyside as it is close to Oakland Catholic,” said Bernie Kuhn, Howard Hanna Real Estate.
$525,000
Property: Pine
Seller: Ron Bloom
Buyer: Neil and Kimberly Gregorio
Details: Provincial style home with three-car attached garage, custom moldings, built in overhead lighted ceiling fans, foyer balcony on first floor den, french door and built-in bookcase/desk, fireplace, pantry breakfast area, whirlpool bath.
Comment: “Buyers liked that the home was in walking distance to Pine Community Center and Park, had level yard, grainite and stainless kitchen and large three-car garage,” said Kevin Mihm of Coldwell Banker Real Estate.
$510,000
Property: Squirrel Hill
Seller: Gregory Ryzik
Buyer: Constance Jennings
Details: Provincial style with porcelain floor entrance to foyer, Polynisian rosewood floors, kitchen with thermafoil cabinets, total renovation with top of line materials and workmanship.
Comment: “Buyer liked the location and its proximity to work and that home was completely refurbished with top quality materials,” said Marce Schwartz, Prudential Preferred Realty.
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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