From the November issue: After adding the 141-year-old building services company Helmsley-Spear to his portfolio in early October, Swig Equities president Kent Swig became just the fourth owner of a firm with a famous pedigree.
Swig purchased the firm from the Schneider family for an undisclosed amount. Helmsley-Spear provides building management services, investment sales consulting, and commercial and retail leasing services.
L.B. Goodale founded the firm in 1866. Real estate titan Harry Helmsley owned it from
1955 until he died in 1997, and then the Schneider family won it from Harry’s widow, the late Leona Helmsley, in a legal tug-of-war.
Swig plans to expand Helmsley-Spear’s offerings to include project development, allowing its clients to access Swig Equties’ seven in-house architects, as well as Swig’s Falcon Pacific Construction LLC.
This isn’t the first Helmsley-owned brokerage that Swig grabbed and reinvigorated. In 1995, Swig and a private investment company bought Brown Harris Stevens from Helmsley Equities.
As for the new company, Swig said he expects to “at some point be acquiring properties under that name [Helmsley-Spear]. But we haven’t announced anything yet.”