- Over 33% already in contract just weeks after offering plan approved -

NEW YORK, July 24 /PRNewswire/ -- Meticulously designed residences that capture the grandeur of the Upper East Side of a century ago, but with all the amenities that today's families have come to rely upon, are available at 255 East 74th Street and Second Avenue. Over 33% of the buildings' units have gone into contract just weeks after the offering plan was approved.

The 83-unit, 30-story high-rise, which will be ready for initial occupancy in October 2008, offers luxurious and spacious residences ranging in size from large one-bedroom units to expansive 3,500-square-foot, 5-bedroom apartments. Each unit comes with spectacular attention to detail, including sprawling and elegant windowed eat-in kitchens.

"Selling 33-percent of our units with no advertising, no sales office, is testament to how special this building will be," said Richard Lebow, Director of Marketing & Sales for World-Wide Group.

The building also houses a 40,000-square-foot fitness center and scores of amenities for children, 'tweens and teenagers, including a game room, a toddler room, a climbing tree house, a play zone for crafts, and a reading area.

"In designing and developing 255 East 74th Street, we are creating luxurious, yet comfortable residences that fit the way people live today," said Richard Lebow, Director of Marketing & Sales for World-Wide Group, the project's developer. "Large rooms, interior playrooms, state-of-the-art security systems and, in the larger apartments, kitchens that match those typically enjoyed in weekend homes. With this property, buyers have a rare opportunity to purchase a residence custom tailored to their lifestyle."

"We are delivering a building that caters to both empty nesters as well as growing families who need more space and crave a wide range of children- and adult-oriented amenities," Mr. Lebow added.

Situated on a quiet, tree-lined street, 255 East 74th Street (http://www.255east74.com/) will house the new Upper East Side flagship facility of Equinox Fitness Clubs. The 40,000-square-foot health center and spa will be one of the most richly detailed private exercise clubs in the area.

With kitchens now serving as the center for family gatherings, the building is introducing a kitchen that will fill this void in the Manhattan condominium market. "This is a room that is being created to fit the new model of American family life," said Mr. Lebow.

The lavish kitchens have been designed as the centerpiece of each apartment. Working with Varenna by Poliform, the globally respected kitchen designers, 255 East 74th Street will have eat-in kitchens with the splendor, size and style that will rival those in the most luxurious homes found outside of New York City. In the 5-bedroom apartments, they are an astounding 20 x 19 square feet, and can serve as a true 'chef's' kitchen as well as being the place in the apartment where families gather to relax, talk and linger.

The kitchens' features will range from two SubZero refrigerators, to oven towers by Miele, to double dishwashers. With a focus on detail and seamless design, Varenna also offers recessed cabinet handles, smart storage areas and entrance points that provide both prepping and cooking stations, as well as a beverage-mixing area. Early buyers are also taking advantage of the ability to customize their kitchen through a host of palates and finishes.

"We are finishing the permanent sales office now, but demand is so strong, we have commenced sales from World-Wide's corporate offices," said Mr. Lebow.

Mr. Lebow also noted that World-Wide has appointed Patricia Parker, a native of London, England, to serve as the property's director of sales.

Ms. Parker joins World-Wide Group from Corcoran Sunshine Marketing Group. Fluent in Italian and French, her foreign language skills and exposure to the European customer base were important attributes that appealed to World-Wide Group. Prospective buyers can arrange to visit the sales office by contacting Patricia at (212) 249-1221 or via e-mail: patricia@255east74.com.

Ms. Parker and her sales team are available for private consultations where prospective buyers may review renderings, floor plans and ask specific questions related to custom-designing the units. The 255 East 74th Street sales office is open Monday through Friday from 10:00 am to 6:00 pm. The World-Wide Group is located at 950 Third Avenue, 18th Floor, New York, NY.

About The World-Wide Group

The World-Wide Group and its affiliates are privately-held investment companies, based in New York City. They are headed by Victor Elmaleh, Chairman; and James Stanton, President, who have been engaged in real estate development and venture capital investing for over half a century. With a reputation for successfully tackling high-risk urban development, the group has developed over $3 billion worth of new luxury properties in New York City. Until recently, the company has focused on converting outdated commercial buildings into premium residential properties including 50 Murray Street, 53 Park Place, 88 Greenwich Street, 71 Broadway, The Steiner Building in Chelsea, and 137 Reade Street in Tribeca. Going forward, World-Wide will focus on constructing new luxury buildings such as the recently completed Milan as well as sites on 57th Street and 74th Street.

Source: World-Wide Group

CONTACT: Lee Silberstein, lee@themarino.org, or John Marino,
john@themarino.org, or jake@themarino.org, all for the World-Wide Group,
+1-212-889-0808

Web site: http://www.255east74.com/