Iconic Transamerica Pyramid In San Francisco Sold To New York City Developer
SAN FRANCISCO (KPIX 5) -- For the first time in its history, San Francisco's Transamerica Pyramid is about to have a new owner.
A deal has been reached for a partnership led by Michael Shvo, a New York developer, to buy the iconic tower from Transamerica Corporation for more than $700 million, according to a source knowledgeable about the transaction who did not want to be named.
Shvo is a luxury real estate developer who has also bought the Coca-Cola building in New York and the Raleigh Hotel in Miami.
KPIX 5 reached out to the Transamerica Corporation for comment, but so far have not heard back.
The Tranamerica Pyramid was the tallest building in the West from the time it was constructed in 1972 to 2017 when it was surpassed by the Salesforce Tower.