Pittsburgh real estate update (Avoca, Oakland: landlord, salaries, costs)

[jea6321]

Originally Posted by BUILD PENN SQUARE

not sure if there's ever been a million dollar sale in lawrenceville before, but this one is aiming to come close

One sold for 1.2M on 46th st last year. There's been about a dozen sold between 800k and 1M in the past 2 years. A million dollars doesn't go nearly as far as what it used to even 3-4 years ago. There has been 166 sales over 1M the past 3 years within the city, but going back 4-6 years only saw 100 sales over 1M. Id bet 3 years from today looking back we will be well over 200 1M+ sales within the city and climbing.

[BUILD PENN SQUARE]

Originally Posted by jea6321

One sold for 1.2M on 46th st last year.

what's the address - i want to check it out online

[jea6321]

Originally Posted by BUILD PENN SQUARE

what's the address - i want to check it out online

145 46th. You wont see many photos, it was being sold during construction and went under contract way before completed.

[BUILD PENN SQUARE]

Originally Posted by jea6321

145 46th. You wont see many photos, it was being sold during construction and went under contract way before completed.

thanks - i figured that had to be the one with a backyard and two-car garage

i'd rather pay $1.2 million for that one with 4 bedrooms where it's flat than $1.3 million for a 3 bedroom house on a hill with no backyard



https://www.realtor.com/realestatean...1_M44762-29909

[svband76]

Loving this building and all the old doors, ceiling, built-ins, doors still intact.

https://www.zillow.com/homedetails/1...4650886_zpid/?

[BUILD PENN SQUARE]

homewood 1923


homewood 2023

[BUILD PENN SQUARE]

back in the day there was no such thing as "development" - they just built buildings

now we have things like "mixed-use development" which is a phrase where if you say it enough times it attracts tenants

At 441 Smithfield St., a lack of development frustrates Downtown Pittsburgh leaders, with one calling for the use of eminent domain

https://www.post-gazette.com/busines...s/202304030023

"“The historic renovation offers state-of-the-art retail, residential and office space in a location that provides unique access to the city’s business and social assets,” it stated. A brochure describes a “Mixed Use Super Block.”

John Valentine, executive director of the Downtown Neighbors Alliance, said the building has become an eyesore. Graffiti pockmarks the boarded-up windows on the Forbes side. The Fifth side, Mr. Valentine said, “reeks of urine” with homeless people sleeping in the empty storefronts."

[wpipkins2]

Originally Posted by BUILD PENN SQUARE

back in the day there was no such thing as "development" - they just built buildings

now we have things like "mixed-use development" which is a phrase where if you say it enough times it attracts tenants

At 441 Smithfield St., a lack of development frustrates Downtown Pittsburgh leaders, with one calling for the use of eminent domain

https://www.post-gazette.com/busines...s/202304030023

"“The historic renovation offers state-of-the-art retail, residential and office space in a location that provides unique access to the city’s business and social assets,” it stated. A brochure describes a “Mixed Use Super Block.”

John Valentine, executive director of the Downtown Neighbors Alliance, said the building has become an eyesore. Graffiti pockmarks the boarded-up windows on the Forbes side. The Fifth side, Mr. Valentine said, “reeks of urine” with homeless people sleeping in the empty storefronts."

Mixed Use Developments of the Past

The Clark Buliding / Stanley Theater (Benedum) 1920's

Gateway Center 1950's

Allegheny Center 1960's

Chatham Center 1970's

[BUILD PENN SQUARE]

"we're very excited" - we just leased part of our half-empty skyscraper to a financial planning firm

if i was ever asked to use the word "excited" in a sentence, i guarantee you it wouldn't have anything to do with leasing office space to a financial planning company

Chipping away: New lease deal gives half-vacant Downtown Pittsburgh building a little mojo

https://www.post-gazette.com/busines...s/202304030076

"While it still has a long way to go, the owner of a half-empty skyscraper in Downtown is gaining some momentum in its efforts to fill it.

Signature Financial Planning, an investment advisory firm, has signed a lease to occupy 10,470 square feet of space in the 41-story 525 William Penn Place.

It comes even as the region’s office market continues to struggle to regain its footing as a result of the COVID-19 pandemic, with the vacancy rate increasing from 14.3% to 15.3% in the first quarter, according to the Colliers International real estate firm."

[BUILD PENN SQUARE]

it was all downhill from here - well before most of us were born



North Side author pens book about Pittsburgh’s baseball parks history

https://triblive.com/aande/books/nor...parks-history/