A deal is in place to sell Pittsburgh's tallest building, the iconic U.S. Steel Tower.
The 841-foot, 64-floor building is 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 say 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, tells the Pittsburgh Tribune-Review the building is 92 percent occupied and could be fully occupied if UPMC expands.
Area Property Partners acquired the building in 1999 when they bought part of a $265 million mortgage held by GE Capital Corp.