The Real Deal New York

Paramount signs three leases totaling 167K sf at 1301 Sixth

Susman Godfrey, Key Bank and Oak Tree Capital all took space

December 09, 2015 10:07AM

Paramount Group president Albert Behler and 1301 Sixth Avenue in Midtown

Paramount Group head Albert Behler, 1301 Sixth Avenue

Paramount Group signed two new tenants and extended a third, leasing a total of about 167,000 square feet of space at its 1301 Sixth Avenue in Midtown.

The publicly-traded firm signed law practice Susman Godfrey, which will take 31,000 square feet; Key Bank, which will take 73,000 square feet; and extended Oak Tree Capital’s 63,000 square foot lease at the 1.5 million-square-foot tower.

Newmark Grubb Knight Frank’s Chris Mongeluzo represented Susman Godfrey. John Nugent of CBRE represented Oak Tree Capital Management and JLL’s Kenneth Siegel and Aaron Ellison represented Key.

According to CoStar, 128,000 square feet are still available at the building, at an asking rent of $105 per square foot.

Paramount went public last year with a record-breaking $2.3 billion IPO. [NYP, 3rd item]Ariel Stulberg