August 14, 2008
Paramount closes on acquisition of 45 story, 1.8 million square foot, Class A office property in Midtown Manhattan.
On August 13, Willkie client Paramount Group, Inc. closed on its acquisition of interests in 1301 Avenue of the Americas, a 45 story, 1.8 million square foot, Class A office property located on Sixth Avenue between 52nd and 53rd streets in Midtown Manhattan. Designed by Skidmore, Owings & Merrill, and built in 1963 as the headquarters for JC Penney, the property underwent a complete renovation and modernization in 1989. Major tenants at 1301 include Lehman Brothers, PriceWaterhouseCoopers and Dewey & LeBoeuf. One of the largest privately owned real estate, acquisition, redevelopment and management firms in New York City, Paramount Group currently owns over 12 million square feet of commercial office space in Manhattan, Washington D.C., Rosslyn, Virginia and San Francisco. The deal was handled by a multidisciplinary Willkie team including partners Eugene Pinover, Robert Bressman, Thomas Henry and Henry Cohn and associates Mal Serure, Michael Sherman, Anthony Tortora, Kate Rawsthorne, Menna Tesfatsion, Amanda Granacher, Carly Glover and Elliot Rishty.
