Swig Equities in the Commercial Observer – Lease Beat

Commercial Observer



48 Wall St in Commercial Observer


Situs Holdings 13,650 square feet


Situs Holdings has taken 13,650 square feet at 48 Wall Street, a Downtown office building owned by the real estate investor Kent Swig.


The company, a real estate advi­sory firm, took the building’s entire 14th floor in the deal for rents in the $30s per square foot.


Jonathan Dean, an in-house leasing executive at Swig’s real estate firm., Swig Equities, who handled the deal, said that 48 Wall Street has attracted takers for its address and the dearth of space otherwise available on Wall Street.


“Almost half the buildings on Wall Street were converted to res­idential, most of the towers on the south side of the street,” Mr. Dean said. “With the rise of the Downtown market, there are a lot of tenants that really want to be here. It’s the kind of address that’s recognized around the globe.”


After the deal with Situs, Mr.


Dean is turning his attention to two vacant floors, eight and nine.


“They have a beautiful instal­lation, exposed ceilings and an interconnecting staircase,” Mr. Dean said, noting that the space _ was formerly occupied by the ar­chitecture firm Gensler, which is known as being a premier designer of office interiors.


Swig is asking $35 per square foot for the two floors.


“We’ve seen a lot of strong activ­ity for the space,” Mr. Dean said.


Joseph Fabrizi and William Overlock of Cushman & Wakefield represented Situs Holdings in its deal.-DG




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