Paramount Plaza

Paramount Executes Retail Lease With Din Tai Fung for the Glass Cube at 1633 Broadway

Retrieved on: 
Tuesday, February 22, 2022
Retail, Restaurant, Bar, Commercial Building & Real Estate, Construction & Property, REIT, Food, Beverage, Paramount Group, 51st Street (Manhattan), Michelin Guide, David Rockwell, Real estate, NYSE, United, Foot, Paramount Plaza, Paramount, Nightclub, Retail, Restaurant, Bar, Commercial Building & Real Estate, Construction & Property, REIT, Food, Beverage

Din Tai Fung will occupy the retail space situated beneath the glass entry cube in the public plaza at the base of 1633 Broadway.

Key Points: 
  • Din Tai Fung will occupy the retail space situated beneath the glass entry cube in the public plaza at the base of 1633 Broadway.
  • 1633 Broadway will be Din Tai Fungs first New York location and will benefit from consistently high levels of foot traffic due to the propertys ideal Midtown location.
  • Din Tai Fung has attained elite dining status around the world including the west coast of the United States.
  • We are thrilled that internationally recognized Din Tai Fung has selected 1633 Broadway as its first New York restaurant, said Peter Brindley, Executive Vice President, Head of Real Estate.

Paramount Completes Sale of 10% Interest in 1633 Broadway

Retrieved on: 
Thursday, May 28, 2020
Commercial Building & Real Estate, Construction & Property, REIT, Midtown Manhattan, Broadway, Paramount Plaza, 51st Street, Geography of New York City, New York City

Paramount Group, Inc. (NYSE: PGRE) (Paramount or the Company) announced today that it has completed the sale of a 10% interest in 1633 Broadway, a 2.5 million square foot trophy office building located on Broadway between 50th and 51st Streets in Manhattan.

Key Points: 
  • Paramount Group, Inc. (NYSE: PGRE) (Paramount or the Company) announced today that it has completed the sale of a 10% interest in 1633 Broadway, a 2.5 million square foot trophy office building located on Broadway between 50th and 51st Streets in Manhattan.
  • The transaction valued the property at $2.4 billion, or approximately $960 per square foot.
  • 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 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.

Paramount to Sell 10% Interest in 1633 Broadway

Retrieved on: 
Wednesday, April 1, 2020
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, REIT, Midtown Manhattan, Broadway, Broadway theatre, Paramount Plaza

Paramount Group, Inc. (NYSE: PGRE) (Paramount or the Company) announced today that it has entered into an agreement to sell a 10% interest in 1633 Broadway, a 2.5 million square foot trophy office building located on Broadway between 50th and 51st Streets in Manhattan.

Key Points: 
  • Paramount Group, Inc. (NYSE: PGRE) (Paramount or the Company) announced today that it has entered into an agreement to sell a 10% interest in 1633 Broadway, a 2.5 million square foot trophy office building located on Broadway between 50th and 51st Streets in Manhattan.
  • In November 2019, Paramount completed a $1.25 billion interest-only refinancing of the property at a fixed rate of 2.99%, realizing $179.0 million of net proceeds.
  • Upon completion of the sale, Paramount will realize net proceeds of approximately $114.0 million, which will be used for general corporate purposes.
  • With this pending sale of a joint venture interest in 1633 Broadway, we have successfully proven the value of this enormous trophy asset at levels well-above what is implied by our stock price, said Albert Behler, Chairman, Chief Executive Officer and President of Paramount.

PIMCO to Liquidate the PIMCO 1-3 Year U.S. Treasury Index Exchange-Traded Fund

Retrieved on: 
Wednesday, November 6, 2019
PIMCO, Exchange-traded funds, Finance, Paramount Plaza, Investment, Financial services

NEWPORT BEACH, Calif., Nov. 06, 2019 (GLOBE NEWSWIRE) -- PIMCO, one of the worlds premier fixed income investment managers, is to close and liquidate the PIMCO 1-3 Year U.S. Treasury Index Exchange-Traded Fund (the Fund).

Key Points: 
  • NEWPORT BEACH, Calif., Nov. 06, 2019 (GLOBE NEWSWIRE) -- PIMCO, one of the worlds premier fixed income investment managers, is to close and liquidate the PIMCO 1-3 Year U.S. Treasury Index Exchange-Traded Fund (the Fund).
  • PIMCO regularly reviews its product range to ensure it is meeting the requirements of clients in continuing to add value.
  • The Fund invests in securities and instruments included in, or representative of, its Underlying Index regardless of the investment merits of the Underlying Index.
  • PIMCO Investments LLC, distributor, 1633 Broadway, New York, NY 10019, is a company of PIMCO.

Paramount Executes Lease with New Mountain Capital at 1633 Broadway Increasing Building’s Office Space Leased Occupancy to 100%

Retrieved on: 
Tuesday, February 12, 2019
Professional services, REIT, Finance, Construction & Property, Commercial Building & Real Estate, Midtown Manhattan, Manhattan, Geography of New York City, New York City, Paramount Plaza, Broadway, 51st Street

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.

Key Points: 
  • 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.
  • 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.