San Francisco’s Transamerica Tower Selling to NYC Developer
- Iconic California office building being sold for first time
- Tight Bay Area market has driven up commercial rents
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The Transamerica Pyramid, the iconic skyscraper that has defined the San Francisco skyline for almost half a century, is poised to change hands for the first time.
A group led by New York developer Michael Shvo has a deal to purchase the building, according to people with knowledge of the matter, who asked not to be identified discussing the private transaction. The price is about $700 million, one of the people said.