Paramount Group sold a 45% minority interest in its Midtown East office building at 900 Third Avenue, valuing the 600,000-square-foot property at $210m. Paramount retains a 55% majority stake and will continue leasing the 36-story asset. The building, acquired by Paramount in 1999 for $164.8m, has seen fluctuating valuations over the years, peaking at $500m in 2017. A full sale to RFR Realty for $400m fell through in 2020 due to the pandemic. Paramount, which owns commercial properties in New York and San Francisco, is also in talks to sell a $402m Bay Area loan.
900 Third Avenue
