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Cardinals' Stephen Piscotty, who’s being traded to Oakland, bought a $1.35 million house in Creve Coeur in July

Stephen Piscotty, a right fielder for the St. Louis Cardinals, bought a home in Creve Coeur for $1.35 million last July.

A deal was finalized Thursday to trade Piscotty to the Oakland Athletics. Piscotty told ESPN that he requested the trade to be closer to his mother, who has ALS. In exchange for Piscotty, the Cardinals will receive shortstop Yairo Munoz and second baseman Max Schrock.

The four-bedroom home has six bathrooms and totals 3,682 square feet. Built in 1988, the kitchen features granite…

Source: http://feeds.bizjournals.com/industry_21

Hedge funder Daniel Nir nabs Surf Club Four Seasons penthouse for $12M

Rendering of the project (Credit: Four Seasons Private Residences at The Surf Club)

Tags: residential real estate, surf club four seasons, surfside

Hedge funder Daniel Nir and philanthropist Jill Braufman plunked down $12 million for a new penthouse in Surfside.

The couple closed on Penthouse 3 in the north tower of the Four Seasons Private Residences at The Surf Club, property records show. Nir is founder and CEO of Gracie Capital, a New York hedge fund.

Last year, Nir and Braufman sold their Upper East Side co-op in Manhattan for $52 million.

At the Four Seasons in Surfside, they join a list of buyers who include Theory co-founder and CEO Andrew Rosen, Aldo founder Albert Bensadoun, and New York real estate developer Howard Swarzman.

Fort Partners completed the project, which includes a 77-room hotel and two 12-story residential towers, earlier this year. Units range from $3.7 to $31 million, and from 1,800 to more than 7,000 square feet.

The development also features a private club, two restaurants, four swimming pools, cabanas, a gym and oceanside gardens. It was designed by Pritzker Prize-winning architect Richard Meier with Kobi Karp.

Records show Penthouse 6 in the south tower also closed for $21 million. The buyer is 2017 Surf Club Residences Trust, which is managed by Mark F. Raymond, managing partner in the Miami office of Broad and Cassel.


Source: http://feeds.feedburner.com/trdmiami

Council passes realty transfer tax

The Pittsburgh City Council voted on and passed the proposed realty transfer tax on Dec. 13.

The realty transfer tax, a one-time charge, is based on the sales price of a property. The charge is paid at the time or purchase and can be split between the seller and buyer. The current tax is four percent and is split among the local school district (one percent), the state (one percent) and the city (two percent). In the proposed tax plan, the city would receive 2.5 percent.

This means the overall…

Source: http://feeds.bizjournals.com/industry_21

For many, the rent is still too damn high

Rental affordability has improved, but for many renters it’s still a struggle to make ends meet.
Source: http://rss.cnn.com/rss/money_realestate.rss

Nonprofit exec: The bottom line of why Houston needs more trees

“And trees are cheap to grow, cheap to plant and cheap to maintain overall.”

Source: http://feeds.bizjournals.com/industry_21

Monument Sotheby's expands in area as it goes after luxury market

Monument Sotheby’s International Realty to open two new offices in Ruxton and Severna Park.

Source: http://feeds.bizjournals.com/industry_21

Study: Atlanta's 'gender pay gap' is $9,500

A black woman will be Atlanta’s next mayor, but a new study shows there is still major progress needed to bridge the pay gap for women of different races and ethnicities in the city.

The American Association of University Women (AAUW) analyzed the “gender pay gap” in 25 of the largest U.S. metropolitan areas, breaking down the discrepancy between the sexes and races in each city. AAUW’s report found a substantial gender pay gap in all 25 cities examined, with even larger gaps for black and Hispanic…

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Updated design for five-story Canton apartment project gets green light

Refreshed plans for a 24-unit apartment building with ground-level commercial or office space received the green light Thursday from the city’s design review panel.

Plans for the five-story development at 1000 S. Linwood Ave. have been in the works for close to four years, with fits and starts over its design and context as it fits into the urban fabric of Canton with its two- and three-story rowhouses and small businesses near O’Donnell Square.

“We look forward to the building meshing with the…

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TBD Group sells Edgewater dev site on Biscayne Blvd. for $5M

Fabio Faerman and 3200 Biscayne (Credit: Fortune International Realty/FA Commercial Advisors)

A Miami real estate investment and development firm just flipped a site in Edgewater for $5.24 million.

Property records show an affiliate of TBD Group, a Key Biscayne company owned by Miami architects Tamara and Bernadette Despujols and their parents Leonor Ortega and Claudio Despujols, sold the 0.37-acre lot at 3200 Biscayne Boulevard to Green Circle Development, led by Sexton E. Garcia.

It sold for nearly $330 per square foot.

The site is zoned T6-36a-O, allowing for up to 56 residential units and 112 hotel rooms, according to a release from the listing broker, Fabio Faerman of Fortune International Realty/FA Commercial Advisors.

Under current zoning, the corner lot could be developed into a 36-story tower, or rise up to 47 stories with bonuses.

Records show it last sold for $4.5 million in 2015, meaning it traded at a 16 percent gain. Bernadette Despujols said her family’s firm did not receive a lot of interest from potential buyers.


Source: http://feeds.feedburner.com/trdmiami

Software company founder sells mansion near Jupiter

19307 North Riverside Drive and Marc Laukien (Credit: Redfin and ZeroC)

Marc Laukien, the founder of the local software company ZeroC, just sold his waterfront mansion near Jupiter for $5.1 million, property records show.

Laukien sold his 9,310-square-foot home at 19307 North Riverside Drive for about $550 per square foot. His company designs tools for software developers.

Records show he paid $3.9 million for the house in 2011. It sits on nearly an acre of land north of Tequesta Drive. The buyer does not yet appear in Palm Beach County records.

19307 North Riverside Drive (Credit: Redfin)

Rob Thomson of Waterfront Properties and Club Communities brokered the deal. The six-bedroom, six-bathroom home hit the market in March for $6 million, which means it sold at a 15 percent discount off its original selling price. It was re-listed in September for $5.5 million, according to Redfin. Thomson was not immediately available to comment.

19307 North Riverside Drive (Credit: Redfin)

Exclusive communities in Jupiter have long attracted celebrities and business executives like basketball legend Michael Jordan, tennis stars Serena and Venus Williams, and Grammy-winning singer-songwriter Céline Dion.

In 2014, Laukien paid $14.3 million for a bayfront Hibiscus Island home in Miami Beach.


Source: http://feeds.feedburner.com/trdmiami

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