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aramount Group has finally sold a minority interest in its 900 Third Avenue office building, a Midtown East property valued at $210 million. The real estate investment trust (REIT) retains a majority stake of 55% and will continue to oversee leasing for the 36-story, 600,000-square-foot asset. The buyer was not disclosed.

    Paramount has owned the building since purchasing it from JMB Realty in 1999 for $164.8 million. In 2002, it sold a minority stake to ING Office Fund but reacquired it in 2012 for $172.7 million, valuing the property at $352.5 million.

    The sale comes after years of attempted deals, including a near-$500 million valuation in 2017 and late-stage talks with Aby Rosen's RFR Realty in 2020 to buy the entire property for around $400 million. However, the pandemic led to RFR walking away from several deals, including this one.

    Paramount owns commercial real estate in New York City and San Francisco, and as of September, it was discussing a sale of a $402 million loan backed by a two-building complex in the Bay Area.