EXHIBIT 21.1

SUBSIDIARIES OF PARAMOUNT GROUP, INC.

Name	Jurisdiction of Formation/ Incorporation
1301 Participating GP LLC		Delaware
1301 Properties GP LLC		Delaware
1301 Properties Owner LP		Delaware
1325 Avenue Merger Sub GP LLC		Delaware
1325 Avenue Merger Sub LP		Delaware
1325 Avenue Of The Americas, L.P.		New York
1325 Rental GP, L.L.C.		Delaware
1899 Penn Owner LP		Delaware
2099 Owner LP		Delaware
40 West 53rd Associates Limited Partnership		New York
425 Eye Street NW, L.P.		Delaware
50 Beale Fund VII Managing GP, LLC		Delaware
50 Beale Fund VII-H CO-Managing GP, LLC		Delaware
50 Beale Fund VII-H Investment LP		Delaware
50 Beale Fund VII-PSERS COI, LP		Delaware
50 Beale Holdco LP		Delaware
50 Beale Inc.		Delaware
50 Beale Street LLC		Delaware
50 Beale TRS Inc.		Delaware
55 Broadway Preferred GP LLC		Delaware
55 Broadway Preferred Investors LP		Delaware
55 Broadway Preferred LP		Delaware
670 Broadway GP LLC		Delaware
670 Broadway Holdco LP		Delaware
670 Broadway Owner LP		Delaware
712 Fifth Avenue G.P., L.L.C.		Delaware
712 Fifth Avenue, L.P.		New York
900 Third Avenue, L.P.		New York
900 Third GP, LLC		Delaware
Forum Rental Investments, Inc.		Delaware
Imperial Rental Investments LLC		Delaware
Kommanditgeselleschaft Grundstucksgeselleschaft EKZ Schwedt m.b.H. & Co.		Germany
Liberty Place Owner LP		Delaware
Milton 712, LLC		Delaware
Milton Rental Investments, Inc.		Delaware
MRI Waterview, LLC		Delaware
One Front Street Investor GP LLC		Delaware
One Front Street Investor LP		Delaware
One Front Street Owner GP LLC		Delaware
One Front Street Owner LP		Delaware
Paramount Development and Investment, Inc.		Delaware
Paramount Fund III Verwaltungs-GmbH		Germany
Paramount Fund IV Verwaltungs-GmbH		Germany
Paramount Fund V Verwaltungs-GmbH		Germany
Paramount Fund Verwaltungs-GmbH		Germany
Paramount Fund VII Acquisitions LLC		Delaware
Paramount Fund VIII Acquisitions LLC		Delaware
Paramount GREF III, L.L.C.		Delaware
Paramount GREF IV, L.L.C.		Delaware
Paramount GREF RDF, LLC		Delaware
Paramount GREF V (CIP), L.L.C.		Delaware

Paramount GREF V, L.L.C.	Delaware
Paramount GREF VII, LLC	Delaware
Paramount GREF VIII, LLC	Delaware
Paramount GREF, L.L.C.	Delaware
Paramount Group Acquisition and Development LLC	Delaware
Paramount Group Fund VIII 1285 LP	Delaware
Paramount Group Fund VIII 1440 Broadway Mezz LP	Delaware
Paramount Group Fund VIII 229 West Junior Mezz LP	Delaware
Paramount Group Fund VIII 229 West Senior Mezz LP	Delaware
Paramount Group Fund VIII 26 Broadway Mezz LP	Delaware
Paramount Group Fund VIII 44 Wall LP	Delaware
Paramount Group Fund VIII 700 Eighth Mezz LP	Delaware
Paramount Group Fund VIII 700 Eighth Mortgage LP	Delaware
Paramount Group Fund VIII Debt Holdings GP LLC	Delaware
Paramount Group Fund VIII Debt Holdings, LP	Delaware
Paramount Group Fund VIII Holdco I LP	Delaware
Paramount Group Fund VIII Holdco II LP	Delaware
Paramount Group Management GP, LLC	Delaware
Paramount Group Management LP	Delaware
Paramount Group Management TRS German Holdco LLC	Delaware
Paramount Group Operating Partnership LP	Delaware
Paramount Group Property-Asset Management LLC	Delaware
Paramount Group Property-Asset Management TRS LLC	Delaware
Paramount Group Real Estate Advisor II, LP	Delaware
Paramount Group Real Estate Advisor LLC	Delaware
Paramount Group Real Estate Fund II, L.P.	Delaware
Paramount Group Real Estate Fund III, L.P.	Delaware
Paramount Group Real Estate Fund RDF-LF, LP	Delaware
Paramount Group Real Estate Fund VII, LP	Delaware
Paramount Group Real Estate Fund VII-H, LP	Cayman Islands
Paramount Group Real Estate Fund VIII, LP	Delaware
Paramount Group Real Estate International Mgmt Inc.	Delaware
Paramount Group Real Estate Special Situations Fund, L.P.	Delaware
Paramount Group Real Estate Special Situations Fund-H, L.P.	Delaware
Paramount Group Residential Development Fund, LP	Delaware
Paramount Group, Inc.	Maryland
PGRE Fund RDF-LF Blocker-A, LP	Delaware
PGREF  I 1633 Broadway Land, L.P.	Delaware
PGREF I 1633 Broadway Tower, L.P.	Delaware
PGREF I 425 GP LLC	Delaware
PGREF I Paramount Plaza GP, LLC	Delaware
PGREF I Paramount Plaza Holding GP, LLC	Delaware
PGREF I Paramount Plaza, L.P.	Delaware
PGREF II 60 Wall GP, LLC	Delaware
PGREF II 60 Wall Investors GP, LLC	Delaware
PGREF II 60 Wall Street Investors, LP.	Delaware
PGREF II 60 Wall Street, LP	Delaware
PGREF III OMP Preferred Investor, L.P.	Delaware
PGREF III OMP Prime Interest LP	Delaware
PGREF III One Market GP,  LLC	Delaware
PGREF III One Market Investor GP, LLC	Delaware
PGREF III One Market Plaza Investor, L.P.	Delaware
PGREF III Wall Street GP, LLC	Delaware
PGREF III Wall Street Investor, L.P.	Delaware
PGREF IV 1899 Penn Investors GP LLC	Delaware
PGREF IV 2099 Penn Investors GP LLC	Delaware

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PGREF IV Parallel Fund Sub US GP, LLC	Delaware
PGREF IV Parallel Fund Sub US, LP	Delaware
PGREF V (Core) Parallel Fund Sub US GP, LLC	Delaware
PGREF V (Core) Parallel Fund Sub US, LP	Delaware
PGREF V 1301 Participating LP	Delaware
PGREF V 1301 Sixth Holding LP	Delaware
PGREF V 1301 Sixth Investors GP LLC	Delaware
PGREF V 31 West 52nd GP, LLC	Delaware
PGREF V 31 West 52nd Street Investors, LP.	Delaware
PGREF V 40 West 53rd GP, LLC	Delaware
PGREF V Holdco GP LLC	Delaware
PGREF V Holdco LP	Delaware
PGREF V Liberty Place Investors GP LLC	Delaware
PGRESS 2 Herald GP LLC	Delaware
PGRESS 2 Herald LP	Delaware
PGRESS 470 Member GP LLC	Delaware
PGRESS 470 Member LP	Delaware
PGRESS Equity Holdings 2 GP LLC	Delaware
PGRESS Equity Holdings 2 LP	Delaware
PGRESS Equity Holdings LP	Delaware
PGRESS GP LLC	Delaware
PGRESS GP-H LLC	Delaware
PGRESS OCS GP LLC	Delaware
PGRESS OCS JVMember LP	Delaware
PGRESS-A Acquisition GP LLC	Delaware
PGRESS-A Acquisition LP	Delaware
PGRESS-H Limited Partner LLC	Delaware
PPF Off One Market Plaza TRS, LLC	Delaware
PPF Paramount 75 Howard Garage, L.P.	Delaware
PPF Paramount GP,LLC	Delaware
PPF Paramount One Market Plaza Owner, L.P.	Delaware
PPF Paramount One Market Plaza, LP	Delaware
RDF 75 Howard GP LLC	Delaware
RDF 75 Howard LP	Delaware
WVF-Paramount 745 Investor, L.P.	Delaware
WVF-Paramount 745 Property, L.P.	Delaware

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