Kent Swig

My Thoughts.

Archive for April 2011

Realty Foundation Luncheon

Last April 13th, I had the pleasure of attending the annual luncheon for the Realty Foundation which honored Steve Spinola, President of the Real Estate Board of New York (REBNY) as its Man of the Year. Steve is indeed so deserving of this recognition for all of the hard work that he has done for and his dedication to the real estate industry in New York City. As a former honoree, I am thrilled to have Steve join the ranks with those of us who have been given this prestigious award.Joseph Grotto, Jr. of Cassidy Turley, Kent Swig, and Stephen Riker of Cassidy Turley

Written by swigeq

April 27, 2011 at 1:32 am

The Municipal Arts Society’s 118th Annual Meeting

Municipal Arts Society - Kent Swig, President of Swig Equities; Vin Cipolla, President of the MAS Board of DirectorsThe Municipal Arts Society (MAS) held its 118th Annual Meeting on Tuesday, March 29, at the New World Stages, with the set of Avenue Q as a backdrop.

Rocco Landesman, National Endowment for the Arts chairman, opened the evening with a keynote speech on the importance of the ‘Arts Community’ as an economic and cultural catalyst in cities. Landesman’s remarks were followed by a discussion with Gretchen Dykstra, founding President of the Times Square Business Improvement District (now the Times Square Alliance), and Rosanne Haggerty, Founder and President of the nonprofit Common Ground. The discussion was moderated by Eleanor Randolph, a member of the editorial board of The New York Times. The conversation focused around the transformation of Times Square over the last twenty years and the entities that orchestrated the neighborhood’s revival.  The Municipal Arts Society played a key role in the revitalization of Times Square through vigorous advocacy to “keep the lights on” in the district.

Muncipal Arts Society - Kent Barwick, MAS Board of Directors; David Childs, Chairman of the MAS Board of Directors; and Kent Swig, President of Swig Equities

Kent Barwick, David Childs, Kent Swig

Following this most fascinating panel discussion, MAS members voted in the continuing MAS Board Members. I was delighted to rejoin Paul Beirne, Michael Hoffman, Frances Resheske, Earl Weiner and Gary Zarr on the Municipal Arts Society Board of 2011-2012.

Past Board Members Arie Kopelman, Ashton Hawkins and Kinshasha Holman Conwill will be missed as they step down after the completing the maximum allowable term on the MAS Board of Directors. We wish them good luck in the future and look forward to an exciting new year.

Written by swigeq

April 20, 2011 at 2:49 pm

Posted in real estate

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Book Launch

On April 5th, I had the pleasure of attending a book launching reception hosted by Jane Rosenthal and Patty Neuberger and her husband Brad Wechsler for a new book authored by Buddy Cianci, former mayor of Providence, Rhode Island. The new book is entitled Pasta and Politics and I look forward to reading it.

Kent Swig with Mayor Cianci

Kent Swig with Mayor Cianci

As an alumnus of Brown University when Buddy Cianci was mayor, I was thrilled to attend this reception and to see Buddy who I have not seen in many years. He has kept his charm, his wit and his sense of humor and captivated his audience with several anecdotes from his new book. Overall, a wonderful evening!

Written by swigeq

April 13, 2011 at 9:08 am

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REBNY Crossfire Panel

REBNY Panel Group Photo March 2011

Left to right: Paul J. Massey, Jr. (Massey Knakal), Robert Selsam (Boston Properties), Kent Swig (Swig Equities), Moderators, Rick Marek (Vortex Group) and Steve Durels (SL Green); bottom row: Brian Waterman (Newmark Knight Frank), Josh Kuriloff (Cushman & Wakefield), William Elder (RXR Realty) and George Constantin (Heritage Realty)

On March 16th, I had the honor of joining esteemed real estate colleagues of mine on the Real Estate Board of New York Crossfire Panel entitled “How to Recognize a  Real Estate Recovery”.

Other panelists included Robert Selsam, EVP of Boston Properties, George Constantin, President and CEO of Hertiage Realty Services, William Elder, Executive Vice President of RXR Realty LLC, Paul Massey Jr of Massey Knakal, and others. The event gave REBNY members a chance to partake in an informed discussion about the real estate market during the current financial recovery. One of the questions asked by a most attentive audience was if New York City is currently experiencing an economic recovery. In my answer, I pointed out, that a key indicator for this recovery is income. While unemployment is usually the critical indicator for a recession and job growth for a recovery, New York’s recent recession did not cause as many job losses as previous recessions. Rather, New York was particularly hard hit by the loss of income by those who kept their jobs. Thus, this recession showed a low level of connectivity between layoffs and financial recession. Income, on the other hand, dropped quite dramatically, and is now finally showing signs of recovery.  As incomes come back, growth should pick up which will mean that the tenants will begin to return to the market.

As a topic close to my heart, I was also given the opportunity to discuss FiDi, the Financial District of New York, an area on which I have focused over many years; and even coined the term FiDi several years ago. When discussing neighborhoods to watch, as far as I am concerned, FiDi is the one. As I said at the event, FiDi leads the way in many demographics including being the fastest growing residential neighborhood in New York as well as boasting the population with the highest education and income per capita per zip code in the United States. Also, the FiDi area is the beneficiary of an entirely and newly developed transportation system.

Written by swigeq

April 7, 2011 at 8:23 am

Posted in real estate

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