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

February 12, 2019

NEW YORK--(BUSINESS WIRE)--Feb 12, 2019--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 50 th and 51 st 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 asset’s 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190212005671/en/

CONTACT: Wilbur Paes

Executive Vice President, Chief Financial Officer

212-237-3122

ir@paramount-group.com

Robert Simone

Director, Business Development & Investor Relations

212-237-3138

ir@paramount-group.com

Media:

212-492-2285

pr@paramount-group.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Paramount Group, Inc.

Copyright Business Wire 2019.

PUB: 02/12/2019 04:15 PM/DISC: 02/12/2019 04:15 PM

http://www.businesswire.com/news/home/20190212005671/en

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