401 East 89th Street
SwigEquities acquired 112 residential units within this 198 unit residential co-op building located at the corner of 89th Street and First Avenue on Manhattan’s Upper East Side. At the time, the building was in bankruptcy and the acquisition included the successful negotiation to purchase the outstanding debt from three disparate banking groups located in Texas, Iowa and Japan. Upon restructuring the debt with the bankrupt co-op corporation, the SwigEquities received 112 cooperative apartments in exchange for discounting the outstanding principal balance of the loan.