JV Takes 80 Broad St.

NEW YORK CITY-The sale of 80 Broad St. to a joint venture comprised of Swig Burris Equities LLC and Broadway Management closes. Swig Burris intends to transform the 36-story, 400,000-sf office into a luxury office building. Approximately $64 million in financing was provided by Wachovia Securities. Swig Burris will serve as the leasing agent and property manager.

Renovations to the building will include a renovated building lobby; newly refurbished 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.

This comes on the heels of lease arrangements for Swig Burris’ 44 Wall St.—another site the firm renovated before leasing up. One lease was signed with McLaughlin, Piven, Vogel Securities Inc. who will be expanding and relocating from 30 Wall St. o the entire 15th floor—just under 16,000 sf. Kadaris & Kelleher will be relocating from 40 Wall to 7,100 sf in the site. Swig Burris Equities and Zamir Equities each own 50% of the 350,000-sf building