February 13, 2019
New Mountain Capital, an investment firm with $20 billion-plus in assets under management, is taking a small step for a tenant, a giant leap for an office owner. Its relocation to two floors of Paramount Group’s 1633 Broadway from a block away at 787 Seventh Ave. will bring the 2.5-million-square-foot Paramount property to full occupancy.
The initial term of 16.5 years covers 1633 Broadway’s top two floors, totaling 108,374 square feet. It’s not known how much space New Mountain occupies at 787 Seventh.
“With the signing of this lease, we are proud to announce that we have now leased 100% of the office space at 1633 Broadway to an exceptional and highly diverse group of tenants,” said Paramount EVP Peter Brindley.
Savills Studley’s Ken Ruderman and Nate Brzozowski represented New Mountain. The property’s agency leasing team is CBRE’s Stephen Siegel, Howard Fiddle, Paul Amrich, Patricia Hayden Meagher and Robert Hill.
For comments, questions or concerns, please contact Paul Bubny