(Bloomberg) --
Property and Building Corp. agreed to sell the HSBC Tower building in New York City for $855 million to an unidentified third party.
The Tel Aviv-based firm will record a net loss of $45 million from the sale after costs, according to a company filing to the Tel Aviv Stock Exchange on Sunday. Completion of the sale is expected by April 1, 2022, subject to the buyer's right to bring the date forward.
Property and Building bought into the 80,000 square foot tower in Manhattan in 2009 for $330 million.
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