New York, NY – January 11, 2012 – (RealEstateRama) — Kent M. Swig, President of Swig Equities, LLC and owner of the landmark building at 48 Wall Street, announced the signing of a new lease for Situs Holdings, LLC who will occupy 13,650 square feet on the entire 14th floor. With this new lease, the building has now reached 88% occupancy.
Evidencing strength and confidence in the Downtown market, Situs Holdings chose 48 Wall Street for its prestigious address, superior technology and amenities, and the professional management of the property. Situs Holdings is recognized as one of the premier real estate advisory firms providing due diligence, valuation, outsourcing, loan servicing, and debt and equity management.
48 Wall Street, a 34-story, 324,000-square-foot 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 property and land in March of 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.
“It’s a wonderful show of support to have this prestigious firm locate to 48 Wall Street. With our building’s occupancy now at 88%, it shows the confidence in 48 Wall Street recognized for its extraordinary location, architectural significance, and state-of-the-art communications technology,” said Kent M. Swig.
In this transaction, the landlord was represented by Jonathan J. Dean of Swig Equities, while Situs Holdings was represented by Cushman & Wakefield brokers Joseph Fabrizi and William Overlock.
“Situs Holdings has chosen 48 Wall Street as their new location in large measure due to their confidence in the track record of Swig Equities for its management of its properties. The building’s state of the art technology and excellent location also greatly contributed to the company’s decision,” said Joseph Fabrizi, Executive Vice President of Cushman & Wakefield.
Other major tenants at 48 Wall Street include Rockefeller Center Business Centers, which provides executive suite office space, who leased 41,000 square feet, Conway, Farrell, Curtin & Kelly P.C., a leader among insurance defense trial firms in the New York Area, occupying more than 17,000 square feet, and D.F. King, one of the largest proxy solicitation firms in Manhattan who occupies 26,000 square feet.
About Swig Equities, LLC
Swig Equities, LLC is a real estate development, investment and management firm based in New York City with offices in San Francisco. The firm is an active purchaser and developer of prime commercial and residential buildings as well as operating companies and securities. Over the past decade, Swig Equities has purchased and/or developed in excess of $3 billion of properties, which includes 110 William Street, a 32-story, 900,000-square-foot commercial office building; 90 Broad Street, a 25-story, 400,000 square foot office building; 48 Wall Street, a 34-story, 324,000-square-foot office building; 80 Broad Street, a 36-story, 400,000-square-foot office building; 44 Wall Street, a 350,000-square-foot office building; 5 Hanover Square, a 25-story, 325,000-square-foot office building ; 770 Lexington Avenue, a 20-story, 155,000-square-foot commercial office building in Midtown Manhattan; and 450 Sansome Street, a 140,000 square foot office building in downtown San Francisco.
