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Article: State rules Downtown building's owner owes $1.66 million
- Article from:
- Tribune-Review/Pittsburgh Tribune-Review
- Article date:
- September 9, 2008
- Author:
CopyrightCopyright 2008 Tribune-Review/Pittsburgh Tribune-Review. Provided by ProQuest LLC. (Hide copyright information)
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The state ruled that Rugby Realty Co. has to pay $1.66 million in
real estate transfer taxes as a result of its acquisition in June of
the former Westinghouse Electric Corp. headquarters building at 11
Stanwix St., Downtown.
City Controller Michael Lamb said Monday the state Department of
Revenue ruled in his favor in a dispute over an exemption claimed by
Rugby, a New Rochelle, N.Y.-based company that owns more than 20
buildings Downtown, in the Strip District and on the North Side,
including the landmark Gulf Tower and the Frick Building.
A Rugby Realty affiliate, Stanwix Lender Associates, LP, said it
didn't owe the taxes because it took over ownership of 11 Stanwix as
part of a deed ...