Albert Behler's Paramount Group Inc. Acquires Retail Asset In Times Square For $190M

Paramount Group Inc., led by Albert Behler, has acquired a retail property located at 1600 Broadway in Times Square, Manhattan. The property was sold by Sherwood Equities in a transaction brokered by Cushman & Wakefield's Doug Harmon, Adam Spies, Adam Doneger, Marcella Fasulo, and Avery Silverstein. The sale price for the property was $190,000,000.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $190,000,000
• Address: 1600 Broadway, Times Square, Manhattan
• Buyer: Albert Behler - Paramount Group Inc.
• Seller: Sherwood Equities
• Brokers: Doug Harmon, Adam Spies, Adam Doneger, Marcella Fasulo, and Avery Silverstein - Cushman & Wakefield

Paramount Group Inc., led by Albert Behler, successfully acquired the retail property at 1600 Broadway in Times Square. The property, spanning approximately 25,000 square feet, was purchased at a price of $190,000,000, translating to approximately $7,600 per square foot. This transaction was facilitated by Cushman & Wakefield's team of brokers, Doug Harmon, Adam Spies, Adam Doneger, Marcella Fasulo, and Avery Silverstein.