The NYLB lease calls for the bureau to take floors 15 through 17 and a portion of the 18th floor. Swig says in a release that the NYLB deal brings the 900,000-square-foot Financial District office tower to 98% occupancy. Asking rents at the 32-story tower are $33 per square foot.
In a statement, Swig Equities owner and president Kent Swig says the NYLB deal is "another example of the stability and strength of the commercial office environment in Lower Manhattan's FiDi neighborhood." Todd Korren, Swig Equities' SVP and director of commercial leasing operations, represented the ownership along with Jeffrey Schwartz of Wolf Haldenstein Adler Freeman & Herz LLP. The bureau was represented by Peter Hennessey and Scott Cahaly of Jones Lang LaSalle and Raymond A. Sanseverino of Loeb & Loeb LLP.
Completed in 1958, 110 William has undergone a major capital improvement program that included reconditioning the façade, installing a new lobby and front street entrance and upgrading the building systems. Swig and Longwing Real Estate Ventures, the US real estate arm of Dubai's royal family, paid $164.5 million in 2004 to buy the tower from Chicago-based Trizec Properties. Swig's other FiDi commercial properties include 5 and 7 Hanover Sq., 44 and 48 Wall St. and 25, 45, 80 and 90 Broad St.
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