Kent Swig | The Real Deal New York

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Kent Swig

Swig Equities
770 Lexington Avenue
New York, NY 10021
(212) 508-7373

While many developers have seen reversals of fortune in the late 2000s, few were as colorful and well-publicized as Kent Swig's.

For most of his career, Swig was considered real estate royalty: a prominent commercial landlord, a principal in Terra Holdings, and Harry Macklowe's son-in-law. Swig's standing suffered, though, as he lost control of development projects, faced an onslaught of litigation and separated from his wife.

Many of Swig's troubles centered around his conversion of Sheffield57 on West 57th Street, which faced numerous lawsuits from tenants after he bought it with other investors for $418 million in 2005. Swig made headlines when one of those partners, Yair Levy, hit him in the head with an ice bucket during a 2008 meeting. The team lost control of the building to a creditor in 2009.

The same year, Lehman Brothers filed to foreclose on 45 Broad Street, where Swig (and partners including Robert De Niro) intended to develop a hotel. In 2010, Swig closed the Helmsley-Spear brokerage, which he'd purchased a few years prior, and defaulted on a $12 million loan at 80 Broad Street.

Swig, a California transplant and a surfer, also faced personal financial woes, with a reported $50 million in personal debt.

In an exclusive interview with The Real Deal in December 2010, however, Swig was sanguine about his future prospects, and said he'd made an agreement with the creditor that took over the Sheffield, Fortress, that gives him a share of potentially "enormous" future profits. He also said that as part of the agreement, he'd agreed to be depicted as "the fall guy" in the press.


...who also run Zeckendorf Development, as well as Kent Swig and David Burris. A spokesperson for Terra was not immediately available for comment. Rose...

...California-based Swig Company (not to be confused with Kent Swig’s Swig Equities) developed the Grace Building at nearby 1114 Sixth Avenue. Brookfield is currently...

...acquisitions at Glory Capital until leaving for the Kent Swig...

...the Obligo and the property’s minority stakeholders Kent Swig and Asher Zamir. Swig settled the lawsuit in May, paving the way for the...

09/13/16 740 Park that she once shared with ex-husband Kent Swig, which sold for $18.5 million after two years on the market. Swig, daughter of developer...

...between Obligo and the tower’s minority stakeholders, Kent Swig and Asher Zamir. Swig bought 44 Wall Street in 2004 with unnamed partners from Lend Lease...

...Kent Swig and Mark Neuman HelmsleySpear hired Mark Neuman, former director of acquisitions at Glory Capital...

...five-year divorce battle with her now-ex husband, developer Kent Swig. They reached a divorce settlement in November, which gave Elizabeth the couple’s duplex...

...Jonathan Gray (credit:Sabina Mollot), 44 Wall Street and Kent Swig Kent Swig and Asher Zamir settled their lawsuit against the majority owner of 44 Wall...

...done deals with the likes of David Geffen, Kent Swig and Judge Judy, will join Elliman’s Alexander team, headed by brothers Tal and...

...Park Avenue apartment she once shared with ex-husband Kent Swig, more than two years after putting in on the market. An almighty price cut...

03/22/16 Midtown. Zamir also teamed with fellow investor Kent Swig several years ago to dispute the pair's stake in 44 Wall Street in the Financial...

...of the total project to 375,000 square feet. Developer Kent Swig lost the site to foreclosure in...

...the mess. Also on the Upper East Side, Kent Swig and Elizabeth Swig, daughter of billionaire developer Harry Macklowe, finalized their split on Thursday...

...on the Upper East Side and Elizabeth and Kent Swig (credit: Patrick McMullan) It's a question that comes up in most divorces: Who gets...

...on the Upper East Side and Elizabeth and Kent Swig (credit: Patrick McMullan) The high profile spoils of Kent and Elizabeth Swig’s messy...

...From left: Harry Macklowe, Bruce Eichner and Kent Swig From the November issue: Defaulting on a real estate loan can be ugly. But...

...Broad was once slated for a hotel-condo project. Kent Swig’s Swig Equities bought the office building on the site in 2006 for $29 million, with...

...million at a foreclosure auction in 2009, after developer Kent Swig defaulted on around $100 million in loans used to finance the building’s condo conversion...

...From left: Kent Swig and American Express cards Despite overcoming many obstacles after the financial crisis, Kent Swig...

...the California pension fund CalSTRS, declined to comment. Kent Swig’s Swig Equities purchased the office building at 45 Broad Street in June 2006 for about...

...William Lie Zeckendorf, Arthur Zeckendorf, David Burris and Kent Swig. In New York, Brown Harris is among the top residential brokerages with nearly 500 agents...

03/11/15" The memo was sent from David Burris, Kent Swig, Arthur Zeckendorf and William Zeckendorf, co-chairmen of Halstead parent company Terra Holdings, as well...

...the financial downturn. One of its biggest debtors, Kent Swig, threatened to declare bankruptcy if the firm attempted to collect on a $30 million that...

...his California charisma, beaded bracelets and dapper disposition, Kent Swig is clearly a new kind of mogul. As he gets excited, he waves his...
Swig Equities, Senior Vice President / Director of Commercial Leasing
110 William Street, 11th Floor, New York, New York, (212)-508-7373
Jonathan Dean is a real estate industry executive and a senior vice president...
Swig Equities, Chief Financial Officer
48 Wall Street, New York, New York, (212)-918-4762
Ronald Shaver is a real estate industry executive and the chief financial officer...
Swig Equities, Chief Administration Officer
48 Wall Street, New York, New York, (212)-918-4762
Steven Kirschenbaum is a real estate industry executive, lawyer, and the chief administration...
Swig Equities, Senior Vice President - Operations
48 Wall Street, New York, New York, (212)-918-4762
Joseph Caraciolo, who goes by Joe, is real estate industry executive and senior...
  • Event Office Leasing
  • Address 48 Wall Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 6,900
  • Price per foot $ 38.00
  • Publication Date 11/01/2010
  • Event Date 09/22/2010
  • Party 1 Kent Swig
  • Party 1 Brokerage In-house
  • Party 2 Lord Securities
  • Party 2 Brokerage CBRE
  • Party 2 Broker Snezana Anderson, Jim Searl
The financial services firm signed a 10-year lease renewal for the entire 27th floor
  • Event Sales
  • Building Name Sheffield57
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 20,000,000
The condo building sold at a foreclosure auction last month for $20 million. Fortress, a Manhattan-based hedge fund that previously acquired more than $100 million in defaulted loans at the building, made the lone bid at the auction, giving it total control over the Sheffield57 holding company. After buying the defaulted mortgage loan and senior mezzanine loan, Fortress advanced several million dollars to help pay off common charges and unpaid mechanic's liens that Swig had accumulated. Swig purchased the property for $418 million in 2005 with majority investors Yair Levy and Serge Hoyda.
  • Event Financing
  • Building Name Sheffield57
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Publication Date 12/01/2008
  • Event Date 10/22/2008
  • Party 1 Kent Swig
  • Party 2 KeyBank
A $104.7 million loan was provided to refinance the condo conversion. 58-story apartment building, 600 units total.
  • Event Sales
  • Address 201 West 92nd Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 61,000,000
The 134-unit rental complex sold for $61 million. The property has 125,000 square feet of unused air rights that would allow seven additional stories of condo development. The buildings contain 68 one-bedrooms, 56 two-bedrooms and 10 three-bedrooms. Swig bought the buildings for $54 million in 2005 with plans to convert them into condos. Includes 200 West 93rd Street.
  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 109,000
  • Price $ 95,000,000
  • Price per foot $ 871.56
Hearst purchased floors two through six and part of the seventh in the residential tower next door to its headquarters for $95 million. The publishing company also acquired the retail portion of the building and a parking garage.
  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 418,000,000
Expected to go condo