Exchange Building sold for $66M
The Exchange Building, originally built for a Seattle stock exchange, was sold this week to an entity controlled by Boston-based Beacon Capital Partners for $66 million, public records show.
Connecticut-based The Ashforth Co. and GE Asset Management had paid $80.6 million for the 23-story downtown building in 2007.
The Exchange Building, at 821 Second Avenue, was completed in 1929, county records show.
It was originally designed to hold stock and commodities exchanges, according to building research firm Emporis. But the 1929 stock market crash obliterated those plans, and the building was quickly converted to office space. It underwent a major renovation in 2002.