Westbury, NY Amid a global pandemic and economic downturn, National Standard Abstract galvanized its resources to empower people of African descent—the community hardest hit by COVID-19 as thousands of families are facing financial, food, and housing instability. The public health crisis exposed the racial disparities and the detrimental consequences of divesting critical funding and resources in predominantly Black neighborhoods for generations.
National Standard Abstract (NSA), a full-service title insurance agency with expertise in residential and commercial real estate transactions, took swift action to meet some of the most immediate needs during COVID-19.
“As New Yorkers, we overcame many challenges during the COVID-19 pandemic and continue to persevere despite our new normal. I am proud that National Standard Abstract remains an integral partner during this critical time to build one community at a time. I look forward to helping with the economic resurgence through our leadership in title insurance and our philanthropic arm, the Osei Rubie Charitable Fund,” said Osei Rubie, president and founder of NSA.
“In our five-plus years of operation, a common question posed to us is ‘How do we engage National Standard Abstract to provide title insurance for our project or transaction?’ As an MBE NYC Certified firm, our credentials are inclusive of city-funded commercial real estate projects as well as market-rate development projects. We are only a phone call away from being able to provide our expertise of over $1 billion closed in real estate development projects,” said Nadir Rubie, partner, NSA.
The Osei Rubie Charitable Fund is the brainchild of its namesake, Osei Rubie, which supports nonprofit organizations committed to ending racial inequity. During the pandemic both the fund and NSA actively donated to answer community challenges, NSA donated food to essential workers in partnership with city council member Daneek Miller and various food drives in the Jamaica section of Queens in partnership with state assemblywoman Alicia Hyndman, state senator Leroy Comrie and city council member Miller. When schools transitioned from classroom to remote learning, the digital divide meant students missed several weeks of instruction while awaiting iPad devices from the city’s Department of Education. In response via the fund in partnership with STEM Kids NYC, 27 Thurgood Marshall Elementary School students (Harlem, NY) received brand-new laptops. By working in partnership with Ede Youth & Bridging The Gap for Our Youth, NSA awarded scholarships to college students to pay for tuition and a stipend for summer employment. In addition, NSA sponsored the Jamaica Queens Annual OSHA training for community members that aspire to work in the construction industry hosted by Southeast Queens Empowerment Training Program founded by Yvette Greene-Dennis of Crescent Consulting and Bryan White of the Thomas White Jr. Foundation.
After several months on the frontlines battling the novel coronavirus, the City of New York is slowly reopening while spurring affordable housing to meet the growing demand post-pandemic. Consequently, NSA closed a $30 million real estate transaction deal to develop a new affordable housing project in Brooklyn. The project is supported by $20 million in construction financing through JPM, as well as tax credit equity. Permanent financing through Freddie Mac in the amount of $6 million was originated by Bellwether Enterprise. Richman Housing is the tax credit syndicator/equity partner.
The vacant city-owned land situated at 461 Alabama Ave. in the Brownsville section of Brooklyn will become a seven-story residential building with 71 units. Services for the Underserved is the social service provider and co-developer. Designed by Newman Design, the nearly 47,000 s/f structure will include 55 studios, 14 one-bedroom, and 2 two-bedroom apartments. The amenities include a reception desk and mailroom; a multipurpose room; offices for supportive services, tenant and bike storage in the cellar; a landscaped garden in the rear yard; and a green roof with solar panels.
In 2015, the New York City Department of Housing Preservation and Development (HPD) issued a Minority and Women-Owned Business Enterprise Building Opportunity Request for Proposals for the site. Two years later, CB Emmanuel Realty, LLC and Services for the Underserved will jointly oversee the development of the site into housing for formerly homeless individuals with disabilities. The HPD Supportive Housing Loan Program (SHLP) has underwritten the project.
This designation is pivotal in strengthening Black communities by ensuring every dollar invested continues to circulate amongst Black-owned businesses. Following the announcement, CB Emmanuel Realty, LLC chose National Standard Abstract who has committed a portion of every real estate transaction to support the community in which they do business.
“It is our responsibility to provide opportunities for other minority-owned firms that we know engage, inspire, and empower people of African descent in the community. NSA has demonstrated this philosophy in action after every transaction they complete. For that reason, we hire NSA to provide title insurance for all of our real estate transactions,” said Christopher Bramwell, principal of CB Emmanuel Realty, LLC.
NSA is a title insurance agency owned by father-son duo, Osei and Nadir Rubie, widely-renowned as industry leaders after closing over $1 billion in commercial and residential real estate transactions in less than five years.
With a focus on dynamic urban neighborhoods, CB Emmanuel Realty LLC develops ground-up market-rate and affordable apartments through the preservation and upgrading of historic, irreplaceable assets.