Apex Offering Plan Declared Effective; First Closings Underway

New Luxury Harlem Condominium Hits 40% Sold Mark. End Quote

New York, NY (1888PressRelease) July 19, 2011 - APEX Condominium's offering plan has been declared effective and the new luxury building in Harlem is already 40% sold -- more than twice the required percentage.

Closings are underway and the first residents have moved into their new homes, according to owner/developer RCG Longview and The Marketing Directors, Inc., the property's exclusive sales and marketing agent.

The fast-selling building is located at 2300 Frederick Douglass Boulevard, on the southeast corner of 124th Street, in this burgeoning residential, retail and entertainment district.

"Surpassing another important sales milestone and being able to welcome our initial buyers into their homes is extremely gratifying. We can now offer prospective buyers the ability to move quickly from purchase to occupancy in our limited number of remaining residences," notes Richard Gorsky, who leads the RCG Longview team.

"We're confident the impressive sales velocity we've achieved to date will now intensify thanks to this latest accomplishment."

Contributing to the sales success at APEX is a newly-streamlined budget and creative buy-down program which has significantly lowered the monthly common charges at the building. Under the new program, the average estimated monthly common charge for a one-bedroom home is approximately $572.

Also resonating with buyers is an impressive amenity offering which includes a private, secured entrance to the condominiums with an attended lobby, residents-only elevators, storage, and a rooftop terrace with panoramic views reserved exclusively for the residential condominium owners. In addition, homeowners enjoy shared hotel amenities such as a second, spectacular entrance, bar, fitness center and on-site parking.

"APEX is clearly striking a chord with buyers throughout New York City who are responding to its well thought-out designs, upscale finishes and appointments, high level of amenities and services, convenient location and exceptional value," says Adrienne Albert, CEO of The Marketing Directors, Inc. "It's exciting to reach the point where buyers are now moving in and enjoying all that this outstanding property has to offer."

APEX features studio-to-three-bedroom residences priced from $340,000 to just over $1 million. The well-appointed residential floor plans offer approximately 476 to 1,810 square feet of living space with stylish interior designs that provide a contemporary look at an exceptional value.

There are dramatic oversized windows in many residences, wood flooring throughout and Bosch washer and dryers in every residence. Kitchens are notable for their custom two-tone cabinetry, granite countertops and a Kitchen Aid stainless steel appliance package that includes cook top, wall oven, dishwasher, refrigerator and microwave, while lavish master baths offer over-sized glass showers, custom designed vanities with polished marble counters and Grohe fixtures.

APEX Condominium's location within the Frederick Douglass Boulevard Corridor offers residents access to the area's ever-growing cultural, dining and recreational pursuits, including universities, the famed Apollo Theater, great restaurants, coffee houses, markets, movie theaters and other retail. APEX is also just one block from the 125th Street subway station which offers direct express commuter service to 33rd Street.

An onsite sales office and furnished model homes are open for viewing. For more information and to schedule an appointment, call 646-374-3900, or visit the APEX website at www.apexcondominiums.com.

ABOUT RCG LONGVIEW
RCG Longview (www.rcglongview.com), a real estate operating and investment management firm formed during 1999, is managed by Ramius LLC (www.ramius.com) and The Feil Organization (www.feilorg.com). Since inception, RCG Longview has invested in excess of $3.5 billion in real estate comprising over 420 transactions. RCG Longview's experience is deep and diverse, spanning quality, ground-up residential development projects, such as APEX, as well as redevelopment and core investments in the residential, industrial, office and retail sectors. RCG Longview is an owner, developer, and lender. The managers and their principals have been investing in real estate for over 50 years and currently own and/or manage in excess of 25,500 residential apartments and over 20.6 million square feet of office/retail/industrial space.

RCG Longview was also closely involved in the ground-up development of Crystal Point, winner of the 2010 National Home Builder's Award for Community of the Year and Urban Land Institute's Project of the Year; and Liberty Terrace, both residential condominiums located in Jersey City, NJ. They have also been a part of the successful condominium conversions of 610 West 110th Street and 215 West 88th Street, both located in New York, NY.

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