-- SkyHouse, 110 Green Street, Luna, QLIC among recent transactions --

The World Wide Group announced today that they have secured approximately $300 million in financing for three of their properties located in New York City and a fourth in Raleigh, NC.

The Singer & Bassuk Organization (SBO) –a boutique real estate finance intermediary arranged the financing.

“Over the past six months, World Wide has added a diverse mix of residential properties to our growing portfolio. Long-term, fixed rate financing is a vital component to our long-term business strategy,” said David Lowenfeld, Chief Operating Officer of World Wide Group.

“Building on our 25-year relationship, it has been an honor to work hand-in-hand with a great name in ownership such as World Wide Group to deliver sound financing for their noteworthy properties that extend beyond Manhattan’s boundaries,” said Andrew J. Singer, Chairman and CEO.

The properties and their transactions are as follows:

• SkyHouse – an ultra-luxury residential tower in Raleigh, North Carolina – was purchased by World Wide for $103 million. The building, which opened in spring 2015, secured a $50 million loan for permanent financing. Located at 308 South Blount Street, this is World Wide’s first purchase in the area. Skyhouse is sought after for its singular amenity offering; a sprawling 10,000 sf indoor/outdoor communal space on the 23rd floor roof deck, including resident lounge, fitness center, outdoor pool and grilling area. The base of the building also houses sprawling retail space along Blount Street, including the restaurant Provenance, and a forthcoming market place and coffeehouse. The property, which is 90% leased, meets the high demand for quality apartments and caters to the growing population of tech and creative-arts professionals who live, work and play in the downtown Raleigh area.
• 110 Green Street in Greenpoint, Brooklyn was acquired by World Wide for a total of $103 million from Meadow Partners, the first residential transaction to exceed $100 million in the neighborhood. A $50 million loan transaction was completed to provide permanent financing for the property. The six-story, 185,000-square-foot property consists of 130 luxury residential apartment units and offers a broad range of amenities including: 24/hour concierge service; a fully-equipped fitness center; a full-sized indoor pool; a large, sun-drenched atrium, game room and children’s room.
• Luna – a 124-unit, boutique residential building located at 42-15 Crescent Street in Long Island City, Queens – was purchased for $73 million with a $32 million loan. 40% leased in mere weeks, Luna offers its residents an intimate living experience with exceptional layouts and luxurious amenities. Located in the heart of Long Island City’s vibrant Queens Plaza neighborhood, the building includes 7,500 square feet of ground floor retail space and is steps away from a variety of retail, dining, art and cultural destinations. Eight subway lines are within walking distance of the building providing easy access to Manhattan.
• QLIC is World Wide’s other property in Long Island City. The 421 unit building opened in September 2015 is 90% leased and located across Queen’s Plaza from Luna. A ground-up development by World Wide, the property achieved permanent financing of $165 million. Located at Queens Plaza North and 24th Street, the building features over 28,000 square feet of amenities, including an outdoor swimming pool, outdoor barbeques with picnic areas, a secluded garden, a fitness center, parking, and a bike room. In addition, the residences are each equipped with unit washer and dryers, stainless steel appliances, and many include private balconies.

With a strong reputation in successful urban development, World Wide Group has developed over $7 billion worth of real estate in New York City with a growing portfolio extending to new regions.

About World Wide Group

World Wide Group and its affiliates are privately-held investment companies, based in New York City. World Wide has been engaged in real estate development and investing for more than 65 years. With a reputation for successfully tackling complex urban development, the group has developed over $7 billion worth of real estate in New York City. The company has developed ground up luxury towers - 255 East 74th Street and 300 East 55th Street. World Wide's projects currently in construction include a 600,000 square foot residential development on 57th Street in Manhattan. World Wide also owns multiple residential developments in New York City's outer boroughs, including QLIC and Luna in Long Island City, as well as 110 Green Street in Greenpoint, Brooklyn. For more information on World Wide Group, please visit the company's website, www.wwgny.com.

About The Singer & Bassuk Organization LLC

The Singer & Bassuk Organization LLC is a boutique real estate finance brokerage and advisory firm. Led by Chairman & CEO Andrew J. Singer, and President Scott A. Singer, the firm’s sole focus and activity is acting as a fiduciary to sophisticated New York City-based property owners and developers seeking best-in-class advisory and brokerage services in connection with securing debt and equity for their real estate projects. For more information, visit www.SingerNYC.com.