New York, NY Marking its first anniversary, National Standard Abstract (NSA), a full-service title insurance firm, says it has more than a quarter-billion dollars of deals in the pipeline over the next nine months. Launched by Osei Rubie in March 2015, NSA has quickly emerged on the real estate scene by reaching several key milestones that have positioned the growing business for an even more robust year ahead.
NSA broke the $100-million barrier by closing more than $142 million in deals across the city and Nassau County, primarily on affordable housing and commercial properties. As a result of the firm’s proactive approach to business, NSA has already lined up $384 million of pending deals through the end of 2016.
In addition, NSA was certified as a Minority-owned Business Enterprise (MBE) by the city of New York, and is in the process of obtaining New York state certification. Furthermore, NSA recently became an agent of First American Title Insurance Co. as well as Old Republic National Title Insurance Co.
“Thanks to the support of our loyal clients, this first year in business has been better than expected. We hit the ground running and have picked up speed,” said Osei Rubie, founder and president of National Standard Abstract. “Our dynamic team has more than a century of combined experience and a network of relationships that continues to grow. In year two, we plan to leverage this and create opportunities across New York’s real estate industry.”
As National Standard Abstract enters its second year, it will expand the service it provides to the region’s real-estate industry by organizing events. In addition to providing thought-provoking discussion and information, the events will assemble a dynamic array of professionals to help develop relationships and create opportunities across the sector. The first event will be a panel presented in partnership with the South Bronx Overall Economic Development Corporation (SoBRO) on “Joint-Venture Partnerships in Affordable, Supportive and Market Rate Housing” the evening of April 7th at the Bronx Museum. The discussion will cover the evolution of joint-venture partnerships, best practices, experiences, trends and advice. A panel moderated by Maurice Coleman, senior vice president at Bank of America will include Phillip Morrow, president & CEO of SoBRO; Matthew Hall, partner at Goldstein Hall; Jane Silverman, executive director of Community Development Banking at Chase; Karen Sherman, principal of Sherman Law; Frederick Shack, CEO of Urban Pathways; Radame Perez, COO of Mastermind and Tori Lyon, CEO of Jericho Project. Opening remarks will be given by NYC Council Member Inez Dickens.
The $142 million of deals closed over the past twelve months include:
$43 million 33-building, affordable-housing development in Brooklyn
$24 million new construction, affordable-housing development in Brooklyn
$7 million refinance of senior-housing building in Harlem
$6 million refinance by an affordable-housing developer in Brooklyn
$1 million refinance by an affordable-housing developer in the Bronx
$1 million refinance of a residential building in Harlem
$2.4 million refinance by an affordable-housing developer in Harlem
$57.6 million in residential transactions in Brooklyn, Bronx, Manhattan, and Nassau and Suffolk counties.
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