Paramount Executes Lease with New Mountain Capital at 1633 Broadway Increasing Building’s Office Space Leased Occupancy to 100%

NEW YORK–(BUSINESS WIRE)–Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today
announced that it has signed a two-floor 108,374 square foot lease with
New Mountain Capital, LLC (“New Mountain”) at 1633 Broadway, a 48-story
2.5 million square foot trophy office tower located between 50th and
51st Streets in Midtown Manhattan. New Mountain will occupy
the top two floors of the building for an initial term of 16.5 years.

“We are thrilled that marquee investment firm New Mountain has selected
1633 Broadway as its new headquarters location. Their desire to relocate
to 1633 Broadway reflects the appeal of the asset’s location, large and
efficient floorplates and exceptional views,” said Peter Brindley,
Executive Vice President, Leasing. “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.”

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a
fully-integrated real estate investment trust that owns, operates,
manages, acquires and redevelops high-quality, Class A office properties
located in select central business district submarkets of New York City,
Washington, D.C. and San Francisco. Paramount is focused on maximizing
the value of its portfolio by leveraging the sought-after locations of
its assets and its proven property management capabilities to attract
and retain high-quality tenants.

Contacts

Wilbur Paes
Executive Vice President, Chief Financial Officer
212-237-3122
[email protected]

Robert
Simone
Director, Business Development & Investor Relations
212-237-3138
[email protected]

Media:
212-492-2285
[email protected]

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