October 2, 2019
Paramount Group has sold Liberty Place, a 172,000-square-foot office building in the East End submarket of Washington, DC for $154.5 million. The buyer was undisclosed.
Located at 325 7th St. NW, the property is less than a mile from Capitol Hill and is comprised of two incorporated buildings. The first building is the Fireman’s Fund Building built in 1882. The second is a 12-story office tower built in 1991.
Paramount plans to use net proceeds from the sale to fund its share of the previously-announced purchase of Market Center in San Francisco, as well as for general corporate purposes.
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