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Swig Burris Equities Opens 48 Wall St.

NEW YORK CITY-The landmark building at 48 Wall St. has opened after an extensive construction program that provided a complete renovation, restoration and upgrading of the building's structure. Swig Burris Equities is the owner.

By Betsy Kraat | Updated on August 01, 2001

NEW YORK CITY–In a historic city, 48 Wall St. is a landmark among landmarks. The 34-story, 324,000-sf office tower was built in 1927 and previously occupied by Bank of New York. Swig Burris Equities, in association with Kirkpatrick MacDonald and Bryce MacDonald of MacDonald & Cle, acquired the building in 1998. They are only the third owners of the property since the land was conveyed from the Dutch to the British and then to the Bank of New York in 1796.The building is currently 65% leased. Major tenants include GMAC Commercial Mortgage, with 51,000 sf; Rockefeller Center Business Centers, providers of executive suite office space, with 41,000 sf; and Gensler Architecture, Design and Planning Worldwide, with 27,300 sf. John W. Bristol & Co., an investment and money-management firm, will take occupancy of the entire 18th floor, which comprises 9,325 sf, in August. “These leases represent a solid commitment to 48 Wall St. on behalf of these tenants,” says Kent M. Swig, principal of Swig Burris Equities. “We are thrilled that the building is now 65% leased, and with the current activity that we are experiencing, we are confident that we will be fully occupied by year end.”The infrastructure of 48 Wall St. was improved greatly. A new fiber-optic backbone was installed for broadband internet access, as well as a tenant-controlled HVAC system. Esthetic upgrades include a restored marble lobby as well as ADA-compliant marble and granite bathrooms.

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