Museum of finance leases Grand Mezzanine at 48 Wall.

Kent M. Swig, President of Swig Equities, LLC, owner of the landmark building at 48 Wall Street, announced that the building has signed a lease totaling 31,000 s/f, for the entire Grand Mezzanine, Ground Floor Retail, and Concourse Level One space with the Museum of American Finance, a member of the Smithsonian Museum affiliations program.

With the signing of this lease 48 Wall Street is now 97% leased.

Evidencing strength and confidence in the emergence of Downtown as a major destination for museums, civic and cultural institutions, the museum chose 48 Wall Street for its prestigious address, its landmark status and the magnificent space of the Grand Mezzanine. In addition, 48 Wall Street served as the former headquarters of the Bank of New York, which was founded by Alexander Hamilton, the first Treasury Secretary of the United States.

"We are thrilled to be relocating our museum to this wonderful historic building with its 21st century amenities and technology. This location offers us exceptional visibility in Downtown's Financial District as well as the financial markets of the world," said John Herzog, Chairman and Founder of the museum.

48 Wall Street, a 34-story 324,000 s/f office tower built in 1927, was previously occupied by The Bank of New York. Swig Equities, LLC, in association with MacDonald & Cie, acquired the building and land in 1998. They are only the third owners of the property since the land was conveyed from the Dutch to the British and then to The Bank of New York in 1796.

Other major tenants at 48 Wall Street include CII, a GMAC Commercial Mortgage Company, with 51,050 s/f; Rockefeller Center Business Centers, who leased 41,000 s/f; Gensler Architecture, Design and Planning Worldwide, occupying 27,300 s/f.

"It's a wonderful show of support to have this prestigious museum lease space at 48 Wall Street. This lease solidifies Wall Street as both a major business center as well as a major cultural destination," said Todd E. Korren, Senior Vice President and Director of Commercial Leasing for Swig Equities.

The landlord was represented by Todd Korren with legal representation from William E. Stempel, Senior Vice President and General Counsel at Swig Equities, while the museum was represented by Martha Burton of CB Richard Ellis. Barbara Brown of Carter Ledyard & Milburn, LLP represented the tenant as their legal counsel.

48 Wall Street has maintained all of the original 1927 architectural detail of this landmark building, while completely renovating all internal workings.