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More UWS Nondos: Swig Cashes Out On Fancy Toppings

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Those Upper West Side condo plans sure are dropping like flies, aren't they? OK, maybe not, but following Extell's abandonment of condo conversion plans at the 86-unit rental building at 10 West 65th Street comes word of another UWS building sale involving a local real estate heavyweight run by a kooky character. Kent Swig had planned on dropping a pair of condo additions on top of 201 West 92nd Street and 200 West 93rd Street (right), adjoining rental properties that Swig Equities had picked up for a combined $54 million. That was before the controversy, and before Swig decided to put the whole thing on the market. Now, The Real Deal reports that the 134-unit rental complex has finally sold, for $61 million (previous asking prices were $90 million and then $72 million). The buyer, 92nd Street Equities, reportedly plans to continue operating the buildings as rental properties, though there are those 125,000 square feet of very tempting air rights...
· Swig sells UWS rental buildings [TRD]
· Take a Swig of the UWS [Curbed]