NEW YORK CITY—World-Wide Group has sold its ground leaseholdinterests at 110 Church St. (or 50 Murray St.) and 53 Park Pl. inTribeca for $231 million. The sale was made to the SapirOrganization. In 2000, the Sapir Organization, the owner of theland, ground-leased the sites to World-Wide Group, whichsubsequently re-developed and constructed full service luxuryhigh-rise rental buildings on the sites.
The New York-based law firm of Hunton & Williams representedWorld-Wide. The deal's team was led by Carl Schwartz and includedSusan Saslow, asenior real estate attorney, and Anna Cadet, a real estateassociate.
"We're delighted to have been a part of World-Wide's successfulredevelopment of this property,” says Schwartz, a partner in Hunton& Williams' New York office and co-head of its global realestate practice. “World-Wide's sophisticated financing and leasingstrategy, as well as its post-9/11 recovery efforts, have helped toredefine Tribeca.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
