Solomon said they are happy with their new partners and would be interested in other opportunities of this type, including other purchases with Swig.
During the complicated closing, which took place over several days, involving signatures on over 200 documents, and was finalized on Monday, February 24, the Swig Investment Company also bought out the Weilers in three other properties, comprising some 3.
That, Swig notes, will provide a "natural fit" with his family's hotel experience.
To begin fleshing out other services, the new owners have hired renowned appraisal expert Abram Barkan, who Swig calls the "guru of the appraisal industry.
This will allow us to be the most automated, sophisticated management firm in the city," said Swig.
For instance, if Brown Harris cuts a deal to purchase the four million gallons of oil their buildings use in bulk, Swig calculates they should save about 15 percent overall.
All of these modifications free up the property managers to concentrate on running their buildings, said Swig.
We're encouraging people to seek higher education and have a program which will subsidize and pay for a lot of that," Swig said.
So after concentrating on improving the services and rejuvenating the firm, Swig said they are now able to go to the boards and say, 'This is what we're doing, this is how we're doing it and these are the results.