Top residential, commercial real estate deals of the week — Jan. 25
DEALS OF THE WEEK
A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:
Property: DoubleTree by Hilton, Cranberry
Seller: Warrendale Hotel Associates (Hilton Worldwide)
Buyer: Elmpros Hotel LLC (Elmhurst Group and DeCicco Development Inc.)
Details: The hotel, formerly a Four Points by Sheraton, is the DoubleTree by Hilton brand's sixth property in the Pittsburgh area. A renovation program is expected to be completed in August.
Comment: “We are very excited about bringing the DoubleTree by Hilton brand to the Cranberry community,” said Bill Hunt, president of the Elmhurst Group.
Property: 3005-3033 Banksville Road, Banksville
Seller: GRA-Co Inc.
Buyer: Banksville Commons LLC
Details: Five-building retail center that includes Zips Dry Cleaners, Fast Signs and Mintt Indian Cuisine was purchased by investment partners Dr. Chhaganlal Ladani, Sanjay Lodha and Durlabhji Ukani.
Comment: “The doctor whose children are in the same line of medicine wants to convert it to professional buildings and bring in more practices there. It's a good location,” said Sanjay Lodha, an accountant.
Property: 100 Ryan Court, Robinson
Seller: Navy Ryan Court Real Estate LLC
Buyer: H.L. Libby Corp., Marshall
Details: The former headquarters of Ryan Homes, built in 1979, was sold to H.L. Libby, a real estate developer that specializes in reinvigorating older properties and marketing them to new tenants. Libby owns 20 shopping centers on the East Coast, but this is its first property in the Pittsburgh area after moving to Marshall from Youngstown, Ohio, more than 40 years ago. The building, with three full floors and two split-level floors, is currently vacant.
Comment: “We are in the process of working with architects and engineers on the building and will start interior demolition any day now,” said Barry Nicholson, vice president.
TOP DOLLAR HOMES
Recent home and condominium sales that brought top prices in Western Pennsylvania:
Seller: Kenneth Gavrity
Buyer: Martin Tucek and Denisa Tucekova
Details: Colonial, two-story with four bedrooms and three full and two half bathrooms. Upgrades throughout, with nine-foot ceilings, entire first floor hardwood, private backyard with paver-and-limestone patio, waterfall and firepit.
Comment: “The owners put a lot of money into the house, and the neighborhood is exceptional,” said Jason Rakers, listing agent with Re/Max Select Realty. “They took a wall out between the kitchen and family room, creating an open concept. Everything popped.”
Seller: Bruce Sulkey
Buyer: Matthew and Laura Muldoon
Details: Brick two-story Colonial, two-car attached garage, walk-out basement with guest suite, four second-floor bedrooms, three full and one partial bath, second-floor laundry room.
Comment: “The buyers loved the classic look of the house, but it's a great neighborhood — that's exactly why they bought it. That, and they heard great things about the school district,” said Jean Bongiovanni, listing agent, with the Hampton office of Howard Hanna Real Estate Services.
Property: Mt. Lebanon
Seller: Richard Rabuck
Buyer: Louis and Athena Langas
Details: Four-bedroom Provincial with two-car garage. Hardwood heated floors in kitchen, three baths and sun room. Living room fireplace with intricate mantle.
Comment: “Buyers chose the house because they fell in love with the home's Cotswold Cottage style of Old World charm. The property was beautifully updated, while the architectural integrity was maintained. Location was another selling point; the home is within walking distance to all the shops and restaurants and to parks and schools,” said selling agent Barbara Fisher, with Howard Hanna Real Estate Services, Mt. Lebanon.
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