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The iconic SF skyscraper is on sale for the first time



San Francisco’s iconic Transamerica pyramid went on sale for the first time in nearly 50 years of history on Wednesday, when Deutsche Finance America and New York developer Michael Shvo teamed up to acquire the tower and complex with cost 650 million dollars.

The sale of the 48-story skyscraper and the complex encompassing the entire city block marks “the biggest commercial transaction in the US since the beginning of the Covid-19 pandemic,” Forbes reported.

“We are proud to take ownership and management of the Transamerica Pyramid – the most famous and recognizable skyscraper in the West Bank and one of the most memorable office towers in the world,” Michael Shvo , SHVO̵

7;s Chairman and CEO said. “This iconic tower is an important addition to our portfolio of famous properties, historic landmarks and architectural gems. It is an all-time classic building that reflects the forward-looking spirit of the Bay Area and our own company. We are excited to bring this property into its next renaissance. “

Deutsche Finance America and Shvo bought the building from Aegon NV, the Dutch insurance company that admitted property rights in 1999 as part of the Transamerica Corporation acquisition. The Transamerica Corp diary will be maintained on the building.

The listing was first published in August 2019, and in February it was reported that Shvo bought the building for $ 700 but had to discount $ 50 million, and it was about eight months before the sale was completed. end.


When the Pyramid of Transamerica was built in 1972, it was criticized as “disgusting nonsense” by a renowned architectural critic. At the time, it was the tallest building in San Francisco and held that title until the recent completion of the Salesforce Tower. But a lot has changed since the 70s, and the building has become an irreplaceable landmark on the city’s skyline.

The Chronicle reports Transamerica Corp. tried to sell a 49% stake in the building in 2018, but with no success.

Former SFGATE digital editor Alix Martichoux contributed to this story.


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