Paramount Group sells 45% interest in office building in Midtown Manhattan

Paramount Group (PGRE) announced that it has sold a 45% interest in 900 Third Avenue, a 600,000 square foot Class A office building located on Third Avenue between 54th and 55th Streets in Midtown Manhattan, at a gross asset valuation of $210M. Paramount will continue to own the remaining 55% interest and manage and lease the property.