FILE: The Transamerica Pyramid, as seen on Dec. 22, 2023.

The Transamerica Pyramid sold for $691 million last Friday, according to a news release shared with SFGATE this week by Cyprus-based investment firm Yoda PLC, the new owners of one of the most recognizable buildings in San Francisco. It marks the second time the 853-foot-tall skyscraper has changed hands since its construction in 1972. 

The icon of the end of Columbus Avenue was first purchased by controversial New York developer Michael Shvo in 2020, who had been attempting to carry out a $250 million renovation of the building, with plans to launch a members-only private club that were derailed by a complex legal dispute. Shvo was paid $34 million to terminate his involvement with the property as Yoda PLC buys its first property in the U.S.

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“The acquisition of the Transamerica Pyramid Center represents a very strategic milestone for YODA PLC in 2026,” Alon Bar, CEO of the group, said in the news release. “We are investing in the United States, the largest and most sophisticated real estate market in the........

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