Willkie Advises Paramount Group and Sherwood Equities on Sale of 440 Ninth Avenue to Jowa

January 10, 2014

400,000 square foot office building houses Spotify and B&H

On December 18, Willkie clients Paramount Group, Inc. and Sherwood Equities, Inc. sold 440 Ninth Avenue in New York City, an 18-story, 400,000 square foot office building, to an affiliate of Jowa Real Estate Company, Limited, a Japanese public company.  440 Ninth is anchored by electronics store B&H and is home to Internet music company Spotify and fashion importer E.S. Originals.  Both Paramount and Sherwood are leading owners and operators of office buildings in New York City. The sale represented Jowa’s first acquisition of real estate in the United States.

The transaction was handled by partner Thomas Henry and associates Cindy Yellen, Kathryn Crowe and Melissa Fischetti.