Swig Sells 36,000-SF Property at a Loss

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NEW YORK CITY-Kent Swig, a realty developer, has sold his office property at 140 William St., spanning 36,000 square feet to Chris Soukas, an investor based out of New York City. The value of the deal was $11.35 million, less than half of the $23.9 million paid by Swig for the seven-story building during the 2007 realty boom.

The asking price for the Financial District property was $14.2 million. Soukas has also bought a $6 million loan on the building. For the full story, go to New York Observer.

Categories: Northeast, Office, Acquisitions/Dispositions, Sales, New York