It is official now. The Transamerica Pyramid building in San Francisco has been sold to a new owner.
The iconic building featuring The City's skyline since 1972 and until two years ago, was the tallest in the city.
Now, it's second after the salesforce tower stood the first.
A New York developer brought this iconic tower for $650 million; this includes two nearby buildings on Sansome Street.
The new owner will not change the original name of the tower.
According to reports from sources, the Transamerica complex's purchase price is a discounted one from the roughly $700 million that Developer Michae Shvo and Deutsche Finance asked for before COVID-19. The partners bought the building with a group of European investors, including German pension fund Bayerische Versorgungskammer.
The team has been buying properties across the United States, including the Coca-Cola building in Manhattan and the Raleigh, Richmond, and South Seas Hotels in Miami Beach, Florida. In August month only, this group acquired Chicago's "Big Red" office tower.