Search
 

Paramount Recaps 1633 Broadway, Increases Stake to 75%

NEW YORK CITY-The investment firm has bumped its share in the $2-billion, 2.5-million-square-foot building to 75%.

By Jacqueline Hlavenka | Updated on July 29, 2011

(Mark your Calendars: RealShare NEW YORK at the Marriott Marquis on October 12.)

NEW YORK CITY-Investment and management firm Paramount Group, Inc. has recapitalized a 49% interest in its 48-story, class A office tower at 1633 Broadway in Midtown after affiliates of Morgan Stanley and Bank of America Merrill Lynch exited the partnership in the building. Paramount’s new partners in the property include affiliates of Beacon Capital Partners, LLC and Paramount Group’s Real Estate Fund IV. In addition, SL Green Realty Corp. acquired a preferred equity interest as well.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.