LETTER FROM THE FOUNDER
When Frank Stanton, Arthur Stanton, and I founded the World Wide Group, we had one overriding objective: to offer consumers high quality products. That philosophy guided our efforts in the import/export business in the 1940s and ’50s. It drove our automotive group, which, beginning in 1954 as the first American distributor of Volkswagen, grew to include Porsche, Audi, Renault, Peugeot and Michelin Tires. And it continues to define our efforts.
Today our business focus is high-rise luxury residential real estate. But it did not start out that way. Our first real estate projects were industrial and retail facilities, which served the needs of our automotive business. Those early projects not only provided the infrastructure for the automotive group, they also provided us a valuable perspective on regional economics and real estate opportunities. Soon we expanded our focus to include developing residential, hospitality, office, and specialty retail buildings.
Over the years, we have developed a set of principles to guide our real estate efforts:
- Develop distinctive properties that contribute to the growth of neighbourhoods and create lasting value.
- Treat each project as a stand-alone business venture. Development is about unique answers, not standardized formulas.
- Research market conditions thoroughly and stand ready to adapt to changes in the market.
- Refine and refine and refine again each architectural design to integrate functionality and beauty.
- Build with a focus on details and sustainability.
- Build buildings that we would like to live or work in.
These principles led to our involvement with noteworthy properties that have stood the test of time in emerging neighborhoods, including the Pacific Design Center in West Hollywood, Worldwide Plaza on Manhattan’s West Side, City Lights in Long Island City, and 71 Broadway in New York’s Financial District.
Development is a team endeavor, and I am enormously proud of our in-house development team. They are World Wide’s most valued assets! Together with our outside consultants and partners, they have each contributed to our successful development of over $7 billion of residential, commercial and mixed-use properties.
I invite you to learn more about World Wide Group’s exceptional portfolio of properties, and the team members who have been central to our success.
VICTOR ELMALEH (1918-2014)
Chairman and Founding Partner