Crain's New York Business


The NYLB lease calls for the bureau to take floors 15 through 17and a portion of the 18th floor. Swig says in a release that theNYLB deal brings the 900,000-square-foot Financial District officetower to 98% occupancy. Asking rents at the 32-story tower are $33per square foot.


In a statement, Swig Equities owner and president Kent Swig saysthe NYLB deal is "another example of the stability and strength ofthe commercial office environment in Lower Manhattan's FiDineighborhood." Todd Korren, Swig Equities' SVP and director ofcommercial leasing operations, represented the ownership along withJeffrey Schwartz of Wolf Haldenstein Adler Freeman & Herz LLP.The bureau was represented by Peter Hennessey and Scott Cahaly ofJones Lang LaSalle and Raymond A. Sanseverino of Loeb & LoebLLP.


Completed in 1958, 110 William has undergone a major capitalimprovement program that included reconditioning the façade,installing a new lobby and front street entrance and upgrading thebuilding systems. Swig and Longwing Real Estate Ventures, the USreal estate arm of Dubai's royal family, paid $164.5 million in2004 to buy the tower from Chicago-based Trizec Properties. Swig'sother FiDi commercial properties include 5 and 7 Hanover Sq., 44and 48 Wall St. and 25, 45, 80 and 90 Broad St.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.