Paramount Group’s second-quarter earnings call mentioned a major unreported lease, but not a different lease signed after the quarter ended.
Chairman and CEO Albert Behler told analysts that 1301 Sixth Ave., one of the publicly traded company’s prime Midtown assets, welcomed investment bank Piper Sandler, which signed for 140,000 square feet. We’ve since learned that law firm Adler & Stachenfeld took 40,000 square feet after the quarter ended.
Sources said JLL’s Frank Doyle and Andrew Coe repped Paramount in both deals but neither could be reached for confirmation. The sources also said a different JLL team repped Piper Sandler and CBRE repped Adler Stachenfeld. 3
The starting rents for both leases were above $90 per square foot, Paramount execs said on the call.
We also learned f