PITTSBURGH,None — A deal is in place to sell Pittsburgh's tallest building, the iconic U.S. Steel Tower.
The 841-foot, 64-floor building is currently home to tenants including University of Pittsburgh Medical Center, PNC Bank and its namesake company, U.S. Steel.
The $250 million agreement transfers control of the building to a New York-based investment group. The sellers said the current building management will stay in place and tenants will notice little difference in the day-to-day operations.
A principal in the new ownership group, Mark Karasick, said the building is currently 92 percent occupied and could be fully occupied if UPMC expands.
Area Property Partners acquired the building in 1999 when it bought part of a $265 million mortgage held by GE Capital Corp.
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