Pittsburgh’s Union Trust Building sold by sheriff
PITTSBURGH (AP) – A Boston developer bought Pittsburgh’s landmark Union Trust Building at sheriff’s sale for $14 million.
Officials with The Davis Companies said they haven’t decided what to do with the 11-story Gothic structure, much of which is vacant.
Industrialist Henry Clay Frick built the structure nearly 100 years ago, then sold it in the 1920s to the Union Trust Co.
The building is on the National Register of Historic places, but much of it is vacant today, save for a sandwich shop and a bank on the ground floor, and four floors leased through 2019 by Siemens Corp.
U.S. Bank foreclosed on the property two years ago against 501 Grant Street Partners – a partnership named for the building’s address by Gerson Fox and Michael Kamen of Los Angeles.
The Davis Companies submitted the winning bid Monday.