Busy Season at Paramount’s 1633 Broadway

1633broadwaypropertyshark 1 Busy Season at Paramounts 1633 Broadway The Germany-based Paramount Group is marketing a partial stake in its ownership of the 2.4 million-square-foot 1633 Broadway building in Times Square. The group, which recently added a 49 percent stake to its majority investment last month, is now seeking to flip a similar interest in a deal that might also include equity and part of the 49-story building’s mortgage.

Steve Kohn of Sonnenblock Goldman, Cushman & Wakefield’s debt structuring and recapitalization arm, is working on behalf of the Paramount Group to market a non-controlling stake in the building that could be valued at as much as $1 billion.

jsederstrom@observer.com

Article continues below
More from Politics
BERLIN, GERMANY - DECEMBER 07:  A protester holds a placard showing a portrait of Russian President Vladimir Putin altered to look like Adolph Hitler during a demostration to  demand an end to Russian aerial bombing of the Syrian city of Aleppo in front of the Russian Embassy on December 7, 2016 in Berlin, Germany. The Russian military is supporting Syrian government military forces fighting rebels in Aleppo with aerials bombardments that, according to independent observers, has resulted in the heavy loss of civilian lives.
Putin’s Balkan Terror Plot Exposed