ATLANTA The Equitable Building has been auctioned off for $29.5 million.
The auction this morning was held on the steps of the Fulton County Courthouse.
The building was purchased by 100 Peachtree Street Atlanta LLC, an affiliate of the lender that foreclosed on the property, Capmark Bank.
The Equitable building sits across from Woodruff Park on the site of the old Piedmont Hotel, once one of the citys most luxurious hotels. The building doesnt have a true lead anchor and is about half leased.
The owners, San Diego-based Equa-stone 100 Peachtree LLC, owed about $52 million to Capmark.
William Rothschild, attorney with Sutherland, Asbill & Brennan, said there were no other bidders for the 33-story building.