The Real Deal New York

Swig Co. buying out Blackstone at 1460 Broadway, upgrading site

Improvements to be made after building's only office tenant leaves next year
August 12, 2014 09:00AM

The 215,000-square-foot office building at 1460 Broadway is getting a makeover — following a change in the ownership structure of the property. San Francisco-based Swig Co., which has no relation to Swig Equities, is buying out Blackstone Group, its 49 percent partner in the property, and is teaming up with Himmel + Meringoff.

Jeanne Myerson, the chief executive officer of Swig Co., said the change is made possible by the impending departure of the building’s only office tenant, law firm Skadden Arps.

Leslie Himmel, principal at Himmel + Meringoff Properties, told the New York Post that the capital plan is more then $25 million. Plans include a new lobby, new elevators and double-height store fronts. Asking rents will range from high $50s to mid $60s per square foot. [NYP, 1st] — Claire Moses