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Downtown condos selling fast to diverse clientele
Wednesday, May 21, 2008
The view of the Monongahela River and Mount Washington was one reason that Andrew Pueschel, holding his dog, Cozmo, bought his 151 First Side condo.

When Murugan and Roshni Subramanian decided to buy their first home together, Mr. Subramanian argued for Downtown and the urban lifestyle he's grown to love since moving here from India when he was 17. Mrs. Subramanian considered herself to be "more of a Wexford-type person," he said, and wanted a townhouse.

Their compromise? A two-level, three-bedroom, 2,600-square-foot condominium at 941 Penn, where only two of the building's 17 units are still available. She got her townhouse and garage; he got his Downtown address. "The location is fantastic," he said.

Young professionals such as the Subramanians -- he's 31, she's 28 -- are the sort of buyers developers expected for new Downtown residences that have been going up all over.

What developers didn't count on were buyers such as a 60-something French scientist who plans to retire in a condo at another new Downtown residence, The Carlyle, or Vince and Patty Quatrini, a Greensburg couple who bought a unit in 941 Penn as a second home, lured by its proximity to theaters, sports and his work as an attorney.

The answers to who is moving Downtown and why are as varied as the faces on a Port Authority bus or trolley. But what is clear is they are coming, with developers reporting brisk sales at condo projects featured on today's fifth annual Pittsburgh Downtown Partnership Walk and Dine Downtown living tour, which includes 941 Penn, 151 First Side, The Carlyle and Piatt Place.

Only 16 of 82 units -- mainly two-bedroom units ranging in price from $493,000 to $980,000 -- remain for sale at 151 First Side, which opened last fall. And half of the 60 units already have sold in The Carlyle, the former Union National Bank building at Fourth Avenue and Wood Street, even though buyers can't start moving in until October, said Kay Barchetti of Coldwell Banker Real Estate.

Andrew Pueschel, a professional ballroom dancer, was among the early buyers at 151 First Side.

For the last three months, he has shared a three-bedroom, 1,700-square-foot condo on the eighth floor with his dog Cozmo and a panoramic view of Station Square with the Monongahela River as a backdrop. His home will be part of today's tour.

"Downtown is central for me and my work," said Mr. Pueschel, an education and event planning consultant who also is opening a dance studio in East Liberty.

The St. Louis native who graduated from the University of Pittsburgh lived in apartments in Shadyside and the South Side before moving Downtown -- a goal he seemed to forecast in 2000, when, inspired by a Post-Gazette story about Downtown living, he wrote in a letter to the editor:

"You can build all the theaters and shops you want [which will help] but until you give affordable housing and a night life [a city that does not roll up the carpets at 6 p.m. and closes the bars at 2 a.m.], you will never have a thriving Downtown."

As more developments went up, he decided to act. "I said to myself 'Why don't I live Downtown? I might as well practice what I preach.'"

Mr. Pueschel was attracted by the great views, an open floor plan and space that was perfect for entertaining. It also turned out to have four floors of deeded parking, which means condo owners own a space and can sell it with the unit. When he realized that he could get to his dance studio in 10 minutes (non-rush hour) and to the Parkway West and the airport quickly, he was sold.

Mr. Subramanian, meanwhile, is looking forward to moving into 941 Penn in August. He said it is accessible to everything -- by car or by foot.

"The theaters and four of the top 10 restaurants in Pittsburgh are within walking distance. Even the gym is walkable. All these little things we don't have to get in the car and drive to," he said, adding that he'll still have to drive to a grocery store -- though Downtown did get a smaller market recently.

Kathy Wallace, the Howard Hanna Real Estate Services agent who sold the Subramanians their condo and bought one herself, said living Downtown doesn't have to mean shopping in the suburbs. She and her husband often buy what they need in the Strip District, where she predicts the next condo-building boom will take place.

Empty-nesters whose children are ages 29 and 27, the Wallaces sold their big suburban house and moved to a Downtown apartment five years ago. They went from four cars to one and Mr. Wallace takes a bus and incline to work each day on Mount Washington.

"We're saving $10,000 a year on transportation costs compared to living in the suburbs," she said.

The Downtown-dwelling Realtor said she repeatedly hears the same request from prospective buyers: Can you describe your day?

"It's fear. They just can't picture themselves. We haven't had Downtown living like this before. ...

"I have to say our experiment in urban living has suited us well. You walk out your door and you're immediately engaged," she said.

Kevin Kirkland can be reached at kkirkland@post-gazette.com or 412-263-1978.
First published on May 21, 2008 at 12:00 am
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