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NEW YORK CITY-Swig Burris Equities LLC and Zamir Equities inked a deal to acquire 44 Wall St at a price just under $200 per sf. The 25-story, 340,000- sf office building joins 48 Wall St. and 5 Hanover Square in the Swig Burris portfolio. Swig and Zamir will each own 50% of the building and Swig Burris will serve as the property manager. The deal is expected to close by early January 2004. Space in the site is currently advertised for $28 per sf.

Jon Caplan and Scott Latham of Cushman & Wakefield represented the seller in the transaction. Current tenants at the site include Risk Metrics Prime Office Centers, Chase Mellon Securities, Armienti & Brooks PC, the MacGregor Group and D.H. Blair Investment Banking.

The ownership team plans to transform 44 Wall into a luxury boutique office. Renovations will include a redesigned and renovated building lobby; the installation of a new two-story storefront entrance; new elevator cabs; new core bathrooms and new multi-tenant floor upgrades for newly signed leases within the building; and the installation of state of the art security and fire/life safety systems.

Over the past few years, Swig Burris has purchased and is in the process of developing more than $450 million of properties including the purchase and renovation of 48 Wall St. and 5 Hanover Square; the purchase of 770 Lexington Ave., and the purchase of 112 residential units within Gracie Townhouse.

Zamir Equities has ownership interests in several properties in New York and Israel including residential conversion projects in Lower Manhattan and the purchase of several office buildings including 90-100 John St., 17 Battery Place, and 90 William St.

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