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PARAMOUNT GROUP , INC . Paramount Announces First Quarter 2021 Results - Backfills over 40 % of upcoming vacancy at 31 West 52nd Street - NEW YORK - April 28 , 2021 – Paramount Group , Inc. ( NYSE : PGRE ) ( “ Paramount ” or the “ Company ” ) filed its Quarterly Report on Form 10 - Q for the quarter ended March 31 , 2021 today and reported results for the first quarter ended March 31 , 2021 . First Quarter Highlights : Results of Operations : • • • • Reported net loss attributable to common stockholders of $ 3.6 million , or $ 0.02 per diluted share , for the quarter ended March 31 , 2021 , compared to net income attributable to common stockholders of $ 3.3 million , or $ 0.01 per diluted share , for the quarter ended March 31 , 2020 . Reported Core Funds from Operations ( " Core FFO ” ) attributable to common stockholders of $ 50.6 million , or $ 0.23 per diluted share , for the quarter ended March 31 , 2021 , compared to $ 61.5 million , or $ 0.27 per diluted share , for the quarter ended March 31 , 2020. The decrease in Core FFO attributable to common stockholders for the quarter ended March 31 , 2021 was driven largely by a decrease in earnings of $ 7.7 million , or $ 0.04 per diluted share , as a result of the January 1 , 2021 expiration of Barclays ' 497,500 square foot lease at 1301 Avenue of the Americas . Reported a 2.6 % decrease in Same Store Cash Net Operating Income ( " NOI ” ) and a 7.5 % decrease in Same Store NOI in the quarter ended March 31 , 2021 , compared to the same period in the prior year , which was also driven largely by the Barclays lease expiration . Leased 188,641 square feet , including 155,956 square feet that was leased to the Gershwin Theatre at 1633 Broadway for a 20 - year term . Excluding the theatre lease , 32,685 square feet was leased , of which the Company's share was 19,655 square feet that was leased at a weighted average initial rent of $ 76.08 per square foot . Of the 32,685 square feet leased , 18,211 square feet represented the Company's share of second generation space for which mark - to - markets were negative 8.6 % on a cash basis and negative 15.9 % on a GAAP basis . The negative mark - to- markets on 18,211 square feet of second generation space were driven by a short - term ( 18 month ) above - market 13,914 square foot lease renewal . Other : • • • Ended the quarter with $ 1.49 billion in liquidity , comprised of $ 488.2 million of cash and restricted cash and $ 1.0 billion of borrowing capacity under its revolving credit facility . Declared a first quarter cash dividend of $ 0.07 per common share on March 15 , 2021 , which was paid on April 15 , 2021 . Subsequent to quarter end , signed a 54,095 square foot lease with Bracewell LLP , a leading law and government relations firm , backfilling over 40 % of the upcoming vacancy at 31 West 52nd Street .