Pittsburgh’s transformation from steel and manufacturing to eds and meds is a well-known story that continues to attract national attention, this time from Time Magazine.
The Citizens Bank Tower, an iconic building that was one of Pittsburgh’s first skyscrapers and remains among the tallest in its skyline, is up for sale as its owner hopes to capitalize on intense interest for Downtown office space.
Owner Bank of New York Mellon is shopping the building as part of plans to scale back its real estate footprint to cut costs. No price has been set, nor has the bank identified a broker to represent the property, said spokeswoman Lane Cigna.
However, BNY Mellon is eager to take advantage of a hot market in Pittsburgh.
“There is a lot of outside interest in Pittsburgh in terms of the market itself. If you’re an astute real estate investor, you see the building that’s going on,” she said. “It’s really good timing to start to market this.”