Building upon Swig Burris' renovation and leasing of the neighboring 48 Wall St. and 5 Hanover Square, and Zamir Equities' portfolio of Downtown properties, the ownership team plans to transform 44 Wall into a boutique office building through a major capital improvement program. Planned renovations include a redesigned and renovated building lobby; the installation of a new two-story storefront entrance; refurbished elevator cabs; new core bathrooms and 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. Current tenants include Risk Metrics Prime Office Centers, Chase Mellon Securities, Armienti & Brooks PC, the MacGregor Group and DH Blair Investment Banking. Space in the site is currently advertised for $28 per sf.

"The acquisition and renovation of 44 Wall St. is another example of the confidence that we have in Lower Manhattan as the area rebuilds and plans are formulated for the World Trade Center site. Additional plans for Lower Manhattan are under way, including a new major transportation hub connecting the metropolitan suburban areas via the New Jersey PATH trains, Long Island Rail Road and New York City's MTA subway system. These transportation improvements will ultimately propel Downtown into a conveniently accessible area benefiting all who live and work there," says Kent M. Swig, principal of Swig Burris.

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. The firm has purchased several office buildings including 90-100 John St., 17 Battery Place and 90 William St.