NEW YORK--(BUSINESS WIRE)--
Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced that it has signed a 106,230 square foot lease with MongoDB, Inc. (NASDAQ: MDB) (“MongoDB”), at 1633 Broadway, a 48-story Trophy Class A office tower located between 50th and 51st Streets in Midtown Manhattan. MongoDB is a technology provider offering a modern, leading, general purpose database software platform. MongoDB will occupy the 37th and 38th floor with an initial lease term of 12 years. The signing of MongoDB, brings total leased occupancy at 1633 Broadway to over 95%.
“The successful execution of this deal with MongoDB is a testament to the appeal of 1633 Broadway and our ability to cater to smart, creative and growing tenants in the technology industry, who appreciate the unparalleled large floorplates and unique infrastructure offered in a first class location,” stated Albert Behler, Chairman, Chief Executive Officer and President.
“We continue to see consistent leasing activity in Midtown Manhattan,” said Peter Brindley, Executive Vice President, Leasing. “Our buildings are attracting terrific demand from a wide array of tenants, and we are thrilled to add another leading technology company to our tenant roster.”
1633 Broadway is home to a number of diverse, high-profile tenants spanning a variety of industries, with TAMI tenants comprising nearly 40% of its tenant base. 1633 Broadway’s roster includes Allianz, Morgan Stanley, Warner Music Group, Showtime Networks and Bleacher Report. The building offers unencumbered panoramic views, diverse floor plans and easy access to the New York City subway system, creating an optimal and accessible work environment.
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.
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