Morgan Stanley and Bank of America are selling their 49% interest in 1633 Broadway, a skyscraper near New York’s Times Square, Bloomberg reports. The deal for the 48-story building is valued at $2 billion. Paramount Group, the U.S. real estate unit of Germany’s Otto Group, is the buyer of the skyscraper. Eastdil Secured acted as the broker on the transaction. The property’s tenants include Time Warner and Allianz Global Investors, adds New York Observer.
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