The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Manas Abic - Evercore ISI - Analyst
: Thanks for taking the question. Can we maybe talk a little bit about 1633 Broadway. I saw obviously, you had very great leasing in the quarter. I
was just wondering what the tenant demand is for this specific building, how far you are along with covering maybe the Showtime Networks move
out early next year. And what maybe the asking rents are that you asked for that specific building? Any color would be great.
Question: Manas Abic - Evercore ISI - Analyst
: Okay. Great. And we started, obviously, the concessions came in at around, I think, $200 a square foot for the average leasing activity that you did
in the quarter. We were just wondering if this is kind of like where you think going forward, that's kind of like where the price is currently for deals
to be made or if that was maybe like artificially high in the quarter, just kind of like a trajectory here on like the kind of like going forward second-gen
capital spending would be interesting to hear.
Question: Manas Abic - Evercore ISI - Analyst
: I mean kind of broad across, but you can also divvy up to San Francisco, New York.
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JULY 31, 2025 / 2:00PM, PGRE.N - Q2 2025 Paramount Group Inc Earnings Call
Question: Manas Abic - Evercore ISI - Analyst
: Perfect, thank you.
Question: Blaine Heck - Wells Fargo Securities LLC - Analyst
: Hey, thanks. Good morning. So I appreciate your commentary and transparency on the '25 and '26 large move outs, especially in the presentation,
very helpful. You talked about Showtime, but I was hoping you could provide some commentary on any incoming interest on the other specific
spaces you laid out, also including whether you'll be implementing any large-scale renovations on these spaces? And any color on the potential
time line for those being ready to take on new leasing?
Question: Blaine Heck - Wells Fargo Securities LLC - Analyst
: Okay. That's helpful, Peter. Albert, I was hoping you could comment on the political situation in New York. There was a pretty clear negative initial
reaction to the Democratic primary results, but it seems as though the leasing commentary on this call has remained generally positive.
So wanted to get your thoughts on any potential headwinds that could come from the results of the mayoral race and whether you've seen any
signs of hesitation from prospective tenants to sign significant leases driven specifically by concern around those potential changes at city hub?
Question: Blaine Heck - Wells Fargo Securities LLC - Analyst
: Okay. Great. That's helpful. And sticking with you, Albert, I understand you're hesitant to provide commentary on the progress made on the strategic
review before it's kind of finalized and likely also the investigation into internal controls. But I was hoping you might be able to comment on whether
the SEC investigation has any impact on the strategic review from a timing perspective or otherwise?
Question: Blaine Heck - Wells Fargo Securities LLC - Analyst
: Great. I appreciate that.
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