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NEW YORK CITY-In one of Lower Manhattan’s biggest leasing deals thus far in 2010, the New York Liquidation Bureau is moving into 116,540 square feet at Swig Equities’ 110 William St. The agency, which acts as receiver for impaired or insolvent insurers on behalf of the state’s Superintendent of Insurance, is expected to vacate its offices at 123 William St. this summer. Citing unnamed sources, Crain’s New York Business first reported the 16-year lease this past Thursday.

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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