Friends of the Riverfront, Inc., a nonprofit group that promotes community use of parks and recreational sites, has purchased the Aspinwall Marina and adjoining land for use as a community riverfront park and trail connection. The group paid $2.3 million in cash raised by community groups fundraising activities, as well as a number of major gifts from the Pittsburgh foundation community. The marina will now be converted to a mixed use parcel that will include a riverfront park and a continuation of the Three Rivers Heritage Trail.
"It is truly a ‘community’ park", said Susan Crookston, an Aspinwall resident who spearheaded the project and much of the fundraising effort. "The ability of the community to come together to show support for this project made a real impact on other funders and demonstrated the desire and need for this asset."
The marina is a fully operational facility with 13,750 square feet of office, retail and boat storage space. There are slips for 120 boats along approximately 1,100 linear feet of waterfront. There is a 4,600-square-foot, six-bedroom riverfront house on the 9.2-acre site, located just six miles from downtown Pittsburgh.
O’Hara Harbor and related properties also sold during October for $925,000. This property is home to a 7,000-square-foot marina office with
retail space and four apartments, a 1,800-square-foot steel boat repair building, and two apartments above single garages in a third building. The marina has slips for 40 boats with 340 linear feet of Allegheny River frontage, all on 1.4 acres. The buyer, LEDO Marina LLC, will continue to operate the business under the existing O’Hara Harbor name.
Larry Collins of Howard Hanna
Commercial Real Estate Services was the sole broker in both transactions. Aspinwall Marina, Inc. and NGAIN Properties LLC sold the 285 River Ave. property. Robert and Sandra Dalzell sold the O'Hara Harbor property at 14 River Rd. in Pittsburgh.
See CoStar COMPS #2197980 and #2194205 for further information on these transactions.