NEW YORK CITY-Albert Behler's Paramount Group has acquired the remaining interest at 1633 Broadway. The company has purchased 49% stake in the 48-story, 2.4-million-square-foot office tower from a joint venture of Morgan Stanley and Merrill Lynch for $2 billion.
The office building, located at the corner of 50th Street and Broadway, houses tenants such as Allianz Global Investors and Time Warner. Eastdil Secured negotiated the deal on behalf of the seller. For the full story, go to New York Observer.
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