Updated May 21, 2025
Dan Andrews Of Tempus Realty Partners Acquires Mixed-Use Property In Pittsburgh For $43.75M
1600 Smallman Street
$43,750,000
$347/SF
Building Size
125,985 SF
Asset Type
Mixed-use
Closing
May 20, 2025
About this deal
AI
A mixed-use property located at 1600 Smallman Street in Pittsburgh, PA has been sold for $43.75 million. The asset encompasses 125,985 square feet and is classified as a Class A+ office and retail space. This fully leased property is situated in Pittsburgh’s Strip District and is anchored by Aurora Innovation, with additional tenants such as Balverna, Orr’s Jewelers, and Design Within Reach.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $43,750,000
- Square Footage: 125,985
- Address: 1600 Smallman Street
- Market: Pittsburgh, PA
- PPSF: $347
- Buyer: Dan Andrews - Tempus Realty Partners
Dan Andrews represented Tempus Realty Partners in the acquisition of this property. This transaction signifies the firm's continued investment strategy in high-quality real estate within key urban markets.
On the Map
$43,750,000
$347/SF
Mixed-use
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Pittsburgh Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93