Paramount Group Sells Times Square's Candler Tower

Law360, New York (November 30, 2012, 5:13 PM EST) -- New York real estate investment firm Paramount Group Inc. has sold the Candler Tower in Manhattan's Times Square neighborhood to a local affiliate of a U.K. real estate company, Paramount announced Friday.

The company said that it sold Candler Tower, a 228,000-square-foot officer tower at 220 West 42nd St., to Epic LLC. The officer tower is currently net leased to California-based entertainment company Live Nation Entertainment Inc., Paramount said.

Paramount President and CEO Albert Behler said in a statement that Candler Tower is a prime office...
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