Swig celebrates full house at 48 Wall

Real Estate Weekly,  July 11, 2007  

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Kent M. Swig, principal of Swig Equities, LLC, owner of the landmark building at 48 Wall Street, announced that with the signing of a lease expansion and renewal of 6,250 s/ft, the building is now 100% leased. The lease was signed with the Huntsman Architectural Group for a term extending to 2012.

Evidencing strength and confidence in the Downtown market, the Huntsman Architectural Group chose to expand at 48 Wall Street for its prestigious address and its superior technology and amenities resulting from the recently completed building wide renovation.

48 Wall Street, a 34-story 324,000 s/f office tower built in 1927, was previously occupied by The Bank of New York. Swig Equities, LLC, in association with Kirkpatrick MacDonald of MacDonald & Cie, acquired the building and land in 1998.

They are only the third owners of the property since the land was conveyed from the Dutch to the British and then to The Bank of New York in 1796.

Other major tenants at 48 Wall Street include CII, a GMAC Commercial Mortgage Company, with 51,050 s/f; Rockefeller Center Business Centers, which provides executive suite office space, who leased 41,000 s/f. Gensler Architecture, Design and Planning Worldwide, the largest design firm in the United States, occupying 27,300 s/f, and D.F. King, one of the largest proxy solicitation firms in Manhattan who occupy 26,000 s/f.

"It's a wonderful show of support to have this prestigious firm expand at 48 Wall Street. With our building's occupancy now at 100%, it shows that our building is recognized for its extraordinary location, architectural significance, and state-of-the-art communications technology," said Swig.

In this transaction, the landlord was represented by Todd Korrenvice senior vice president and director of leasing at Swig Equities, LLC., while the Huntsman Architectural Group was represented by Swig's Gregg Slotnick.

"These leases further evidence a solid commitment to 48 Wall Street and the strength of the building within Downtown's FiDi neighborhood. It also shows great confidence in the ownership of the building and the extraordinary amenities that the building offers. We are thrilled that the building is now 100% leased," said Korren.

COPYRIGHT 2007 Hagedorn Publication
COPYRIGHT 2008 Gale, Cengage Learning