Paramount Group, Inc. (NYSE: PGRE) (Paramount or the Company) today announced that it has signed a two-floor 108,374 square foot lease with New Mountain Capital, LLC (New Mountain) at 1633 Broadway, a 48-story 2.5 million square foot trophy office tower located between 50th and 51st Streets in Midtown Manhattan. New Mountain will occupy the top two floors of the building for an initial term of 16.5 years.
We are thrilled that marquee investment firm New Mountain has selected 1633 Broadway as its new headquarters location. Their desire to relocate to 1633 Broadway reflects the appeal of the assets location, large and efficient floorplates and exceptional views, said Peter Brindley, Executive Vice President, Leasing. With the signing of this lease, we are proud to announce that we have now leased 100% of the office space at 1633 Broadway to an exceptional and highly diverse group of tenants.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
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