Rithm Capital Acquires Paramount Group Office Portfolio In Manhattan For $5 Billion

The transaction involved the sale of a large office portfolio in Manhattan, comprising 13 high-quality office assets. The sale price was $5,000,000,000, with a total square footage of 13,100,000, resulting in a price per square foot of $381. The assets within the portfolio include notable addresses such as 1301 Avenue of the Americas, 1325 Avenue of the Americas, and 60 Wall Street, among others.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,000,000,000
• Buyer: Rithm Capital
• Seller: Paramount Group
• Advisors: Roy Hilton March, Stephen Van Dusen, Alana Bassen, Will Silverman & Gary Phillips - Eastdil Secured
• Square Footage: 13,100,000
• Price Per Square Foot: $381
• Included Assets: 1301 Avenue of the Americas, 1325 Avenue of the Americas, 1633 Broadway, 1600 Broadway, 712 Fifth Avenue, 60 Wall Street, 900 Third Avenue, 31 West 52nd Street, One Front Street, One Market Plaza, 300 Mission Street, 55 Second Street, 111 Sutter Street

The advisory team assisting in this transaction was comprised of Roy Hilton March, Stephen Van Dusen, Alana Bassen, Will Silverman, and Gary Phillips, all from Eastdil Secured, showcasing the expertise behind this significant deal in the Manhattan office market.