World-Wide Gets $110M Financing For Queens Development

Law360, New York (October 4, 2013, 4:27 PM EDT) -- German commercial bank Landesbank Hessen-Thuringen Girozentrale has provided $110 million in construction financing to World-Wide Group for a residential project in Long Island City, N.Y., the developer's attorneys announced Wednesday.

The project, at 41-42 24th St., between 41st Avenue and 42nd Road, will be a high-rise building with 421 residential units, about 8,700 square feet of retail space and a parking garage, according to Hunton & Williams LLP, which is representing the developer.

The financing closed on Sept. 25, according to the firm.

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