Point Bridge Realty Advisors, LLC

03/01/2023

06/16/2022

62 acres in fast-growing North Fayette Township.
Asking Price $975,000.
New R-2 “Suburban Residential” Zoning designation.
Apartment / multi-family, Townhome, Single-family, PRD

Located at U.S. Route 22 / 30 and Pattridge Lane.

Convenient access to Interstates 376, 79, and new
Southern Beltway (Interstate 576).

West Allegheny School District.

Strong demographics and adjacent to Fayette Farms
and Bright Oaks planned residential developments.

Minutes from Pittsburgh International Airport, The Mall
at Robinson and Southpointe.

05/11/2022

Point Bridge Realty Advisors is pleased to have represented Family Resources in the sale of their former retreat and conference center, located on 32 acres in Marshall Township, Allegheny County. The sale closed at $4,825,000, nearly 10% above asking price.

04/20/2022

Point Bridge Realty Advisors is pleased to have represented Ian N. Kelly Properties, LP in the acquisition of 4550 McKnight Road in Ross Township. This two-story, 22,000 SF office building was purchased for $1,575,000.

11/14/2019

Higher Taxes in 2020

2020 will bring higher realty transfer taxes to the City of Pittsburgh.

The combined transfer tax rate is currently 4.50% for property located in the City of Pittsburgh and Pittsburgh School District. Actually, the tax consists of four distinct components (summarized in the accompanying chart): State, Pittsburgh School District, City of Pittsburgh “Realty Transfer Tax, and City of Pittsburgh “Home Rule Realty Transfer Tax”. The overall rate will increase to 5.0%, effective January 1, 2020, due to a scheduled increase in the “Home Rule Realty Transfer Tax” component. At 5.0%, Pittsburgh will have one of the highest realty transfer tax rates in the nation.

An ordinance amending the Pittsburgh Code applicable to the Home Rule Realty Transfer Tax was passed by City Council and signed into law by the Mayor in December 2017. The ordinance increased the rate from 1.0% to 2.0% in two steps – 1.0% to 1.50%, effective February 1, 2018 and 1.50% to 2.0%, effective January 1, 2020. The additional taxes will support the City’s Housing Opportunity Fund.

Realty transfer tax is imposed for the privilege of recording an instrument, such as a deed, that transfers an interest in real property (there are exceptions to the tax). It is customary for the transfer tax to be shared equally between buyer and seller, however, the parties may negotiate a different allocation.

11/06/2019

We are pleased to have represented the owner in the sale of
Oxford Park – 3rd Avenue (U.S. Route 22) Duncansville, PA.
18,500 SF Retail Center. 87% occupied value – add opportunity.
Tenants include: Dollar General, First National Bank, and Gentle Family Dentistry.

07/20/2019

Pete Licastro, a Johnstown native and president of Point Bridge Realty Advisors, was pleased to attend the Creator Square construction kick-off event at Gazebo Park in Johnstown. Creator Square is a pioneering artisan residency program using makerspace as a key driver in community development, including artisans, small batch manufacturers, and up-cyclers. To learn more about Creator Square please visit
www.creatorsquarejohnstown.com

06/24/2019

We are pleased to have provided tenant representation services to the Early Learning Resource Center (ELRC) for their office lease at 304 Wood Street in downtown Pittsburgh. ELRC will occupy approximately 9,500 SF later this summer.

03/04/2019

Pete Licastro, founder and president of Point Bridge Realty Advisors, LLC, was recognized in the March 1, 2019 edition of the Pittsburgh Business Times – “Who’s Who in Commercial Real Estate” section as one of the region’s “Movers and Shakers Shaping Real Estate”.