The Real Deal New York

Real Estate advisor Situs takes space at 48 Wall

January 11, 2012 02:00PM
By Guelda Voien

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Situs Holdings, a real estate advisory firm, has inked a lease for 13,650 square feet at 48 Wall Street, landlord Swig Equities said today.

Situs will take the entire 14th floor of the 324,000-square-foot, 34-story office tower, located at the intersection of Wall and William streets. Industry sources said asking rents for the space were in the “high $30s” per square foot.

The move was a “significant expansion,” for Situs, “a dramatically growing, global company,” said Jonathan Dean, director of commercial leasing for Swig Equities. Situs has another office at 150 East 52nd Street, at Lexington Avenue. The space at 48 Wall Street is their first Lower Manhattan office, and it will serve mostly new hires, a company representative said.

This lease brings the tower’s occupancy rate to 88 percent, Swig said.

Swig purchased 48 Wall Street in 1998, in a partnership with MacDonald & Cie, an investment bank. The building is home to the Museum of American Finance as well as Rockefeller Center Business Centers, an executive suite provider; Conway Farrell Curtin & Kelly P.C., a law firm and D.F. King, which provides investor communications services to public companies.

Situs Holdings was represented by a Cushman & Wakefield team of Joseph Fabrizi and William Overlock, who were not immediately available for comment. The landlord was represented in-house by Jonathan Dean.

  • Donald Silverstein

    Interesting… didn’t Deutsche Bank just buy them? If so this is a great move… locating your investment on the same block so you can keep an eye on them. Did DB corporate back the lease?

  • Scrooged

    I love that Swig is still in the mix. Good for him. I am rooting for a comeback for him and why not, he is a bright young man.

  • 2bit

    Hold the press….DB owns Situs???? Are Situs still working for DB’s competitors on the due diligence side. I don’t think anyone knows that Donald, that is pretty big news. I wonder how they keep all the information separate between clients? As to Swig…..stay in there!

  • Real Info

    Bad info. I interviewed with Situs recently and DB has 0% ownership in Situs. Weaker competition is always spreading false rumors.

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