search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanBank of Southern California puts Neil Shekhter portfolio up for saleBank of Southern California puts Neil Shekhter portfolio up for saleMayor Bass wants wealthy Angelenos to pay for homeless housingMayor Bass wants wealthy Angelenos to pay for homeless housing
Commercial
New York

Swig plans for Helmsley-Spear’s future

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.

Sign Up for the undefined Newsletter

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.”