Top commercial, residental deals of the week
DEALSOF THE WEEK
Property sold: 249 Springfield St., Green Tree
Seller: Southstar Development Partners of Pa., Florida
Buyer: Oxford City Vista Apartments LLC, Philadelphia
Details: Plans to develop the vacant 16.5-acre site with 272 apartments, in four new four-story buildings, offering one-, two- and three-bedroom units.
Comment: “We plan to begin construction this month with an opening in September 2013,’ said Bill Brown, development partner of Oxford Properties LLC, the developer.
Property sold: 2920 Brownsville Rd., Carrick.
Seller: Getgo Partners South, Pittsburgh
Buyer: Hillcrest LP, Boston, Mass.
Details: Vacant former Giant Eagle grocery store to be demolished and a mixed-income senior rental community of up to 70 units, estimated to cost $11.5 million, to be built using both public and private sources. Construction to start in fall 2013 with opening late 2014.
Comment: “The Community Builders Inc. has worked with neighborhood partners for more than a year to plan redevelopment of the site. We exercised our option to buy the property in order to assure site control for upcoming competitive funding rounds,” said Tamara Dudukovich, Community Builers’ develolpment director.
Property sold: 908-10 Penn Ave., Downtown
Seller: Bayview Loan Servicing LLC, Miami
Buyer: PMC Property Group, Philadelphia
Details: A 30,000-square-foot six-story building which was acquired by Bayview at a Sheriff’s Sale in 2010.
Comment: “Our plans at this time is to convert the building into about 30 rental units,” said Jerry Novick, executive vice president.
TOP DOLLAR HOMES
Property:• Cook Township, Westoreland County.
Seller: Maxwell and Margaret King
Buyer: Bertram L. and Debra O’Neill
Details: Colonial-style house on 53.4 acres, has New York Loft style interior, cherry hardwood floors throughout, high ceilings, covered porch on both first and second floors, small guest house. Comment: “The buyers loved the views, the privacy the house provided and found the property ideal for horses,” said Wilma Nevin, Howard Hanna Real Estate.
Property: Strip District
Seller: McClure Street Properties, Philadelphia
Buyer: Elizabeth Crago and Wulf Knausenberger, New Zealand.
Details: Condominum in former Otto Milk Building, views of city, hardwood, tile and cork floors, qualifies for 10-year tax abatement.
Comment: “Couple had smaller unit but decided to make Pittsburgh their second home — other in New Zealand — bought larger unit, sold Sedona house,” said Kathy Wallace Re/Max Select Realty.
Property: Adams Township
Seller: Douglas Caruso
Buyer: Andrew and Lindsey Rapine
Details: Custom-built Colonial with more than one acre, with open floor plan, vaulted great room with 20-foot ceilings, book shelves, wine rack, huge deck, four bedrooms, mud room/laundry with lockers.
Comment: “The buyers loved the openness of the home, the soaring ceilings in the spacious valuted great room and the privacy and peaceful setting of the one-acre wooded lot,” said Katie Caruso, Prudential Preferred Realty.
Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or firstname.lastname@example.org.