Tag Archives: World-Wide Group

LIC real estate still has room for more growth: experts


| aaltamirano@queenscourier.com

THE COURIER/ Photo by Angy Altamirano

The Long Island City community is sizzling, and it is only the beginning.

The LIC Partnership hosted its annual Real Estate Breakfast on Wednesday, where a group of panelists discussed the recent developments and market trends taking place in the western Queens neighborhood’s increasing real estate market.

This year’s breakfast, held at The Learning Center at Con Edison, was moderated by David Brause, president of Brause Realty Inc.

Panelists included Arvind K. Bajaj, managing director of Madison Marquette; Erhan Bahceci, owner of Food Cellar & Co. Market; Cathy Dove, vice president for Cornell NYC Tech; Amanda Fung, senior news producer for Crain’s New York Business; and Rachel Loeb, director of development for World-Wide Group.

Subjects during the breakfast included developments in residential and commercial real estate, as panelists discussed up and coming projects, such as the multiple apartment buildings going up and the Cornell NYC Tech campus moving to Roosevelt Island.

Business owner Bahceci said Food Cellar & Co. Market, which opened up in Long Island City in 2009 with a focus on all-natural and organic products, has seen nothing but success. Business has been so good that Bahceci plans on opening a home goods store in the upcoming months.

“It’s an amazing experience being in Long Island City, the reason being not just having a store, [but] the community itself is growing,” Bahceci said. “It’s not just you’re a store owner, you become more like a friend to the community.”

Even with the real estate market already booming, Elizabeth Lusskin, president of the LIC Partnership believes this success is only the beginning and the community needs to work together to guide the growth without hindering it.

“We’ve just sort of opened the gates,” Lusskin said. “It is all still on the edge of the horizon and there is so much more that’s going to happen. LIC has grown very organically and there’s still room for good surprises.”

 

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Construction starts on LIC luxury building featuring 25,000 square feet of amenities


| aaltamirano@queenscourier.com

Rendering courtesy of The Marino Organization Inc.

Soon there will be more luxury in LIC.

The World-Wide Group, a New York City based real estate development company, announced it has started construction on a brand new, $157 million, luxury multi-family development at the intersection of 24th Street and Queens Plaza North. The developer purchased the site last spring and the building is expected to start leasing in 18 months, with construction fully completed by 2015.

The building will be 21 stories and have 421 rental units ranging from studios to three-bedroom apartments. Residents will be offered 25,000 square feet of amenities featuring an outdoor pool with a landscaped roof deck, a state-of-the-art fitness center, private gardens, indoor parking and a bike room.

The development is also just blocks away from eight subway lines connecting the borough to Manhattan.

“We are excited to be contributing to the growth of one of New York City’s great neighborhoods, and look forwards to delivering this amenity-rich, high-end luxury rental development to the Long Island City market,” said David Lowenfeld, executive vice president at The World-Wide Group. “The building will offer our residents unsurpassed amenities and services with unmatched, convenient access to Manhattan and Cornell’s Tech Campus on Roosevelt Island.”

 

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