Browse Tag

Osei Rubie

/

Father and Son Duo Close over $1 Billion Launch Podcast Focused on Building Black Wealth

NEW YORK – National Standard Abstract is launching a new podcast centered on the economic empowerment of Black communities. With the Black buying power expected to reach $1.5 trillion this year, the Black- and family-owned business is now streaming interviews with industry leaders and influencers to help propel students and professionals towards entrepreneurship and sustainability.

The podcast, “All Boxes Checked,” will be hosted by the father-son duo behind National Standard Abstract, a full-service title insurance agency that has closed over $1 billion since 2015. From commercial and residential real estate to financial investment and community empowerment, this podcast will educate listeners on building wealth while circulating money within the Black community.

national standard abstract
Osei and Nadir Rubie

The “All Boxes Checked” podcast will feature guests such as business professionals and philanthropists to public officials and government agencies that will share their insights on the real estate and title insurance industries in addition to the growth of Black-owned businesses.

As the former epicenter of the global COVID-19 pandemic, New York City businesses and homeowners faced financial uncertainty and ruin. The health crisis spanning nearly two years threatened to destabilize the Black community, which faced a higher unemployment rate, foreclosures, evictions, and business closures without emergency federal coronavirus relief funding. National Standard Abstract is closing the opportunity gap – one conversation at a time.

Some of these guests include Quentin Hardy of Movement Mortgage, who is among the top one percent of loan originators in America; Ralph McDaniels, founder of the Video Music Box who was at the forefront of broadcasting hip hop culture; and other notable individuals whose invaluable expertise will help shift the paradigm.

“Six years ago, National Standard Abstract and Shoppe Black were established with a common goal – to advance cooperative economics. Today, we are forging ahead with the launch of a podcast that amplifies Black voices and elevates our culture. We are dedicating resources to engage in conversations about race, education, and economic mobility,” said Osei Rubie, president and founder of National Standard Abstract.

“It has always been our commitment at National Standard Abstract to serve as a bridge to building community at a time. We are excited to launch a new podcast that will connect listeners of any age at every stage of their careers with resources to become financially secure,” said Nadir Rubie, a partner at National Standard Abstract.

“Shoppe Black is excited to assist National Standard Abstract with the launch of a platform that will complement the work that we do every day – promoting all things Black-owned, globally. We are excited to create new spaces and opportunities for people to connect and exchange ideas. By working together, we are expanding our reach while empowering our audience to grow as individuals and professionals,” said Tony O. Lawson, CEO and co-founder of Shoppe Black.

National Standard Abstract is a full-service title insurance agency with expertise in faith-based developments, residential and commercial real estate transactions. Since launching in 2015, the family- and black-owned firm has closed over $1 billion in transactions within the New York metropolitan area.

As the bridge to building one community at a time, National Standard Abstract expanded its footprint into philanthropy through the Osei Rubie Charitable Fund to help end racial inequity and support the organizations working on the ground to create real change.

All Boxed Checked will be available on YouTube, listening apps, and streaming services. 

/

Billion Dollar Black Owned Real Estate Company Launches a Fund to invest in over a dozen Black organizations

The Osei Rubie Charitable Fund is the philanthropic arm of National Standard Abstract (NSA), a family – and Black-owned title insurance firm that in just four years has closed over $1 billion in real estate transactions.

Osei Rubie Charitable Fund
Osei Rubie

In its inaugural year, the fund awarded $100,000 to help more than a dozen organizations advance black culture, education, and generational wealth.

From education to entrepreneurship, the organizations sponsored by the Fund are shifting the paradigm and changing the narrative for thousands of youth and their families.

Impact

“Our greatest achievement in life is the inheritance that we leave behind for our children. As a father, I wanted to create new pathways that would empower us as descendants of Africa to reclaim and rebuild what was lost in the past 400 years,” said Rubie, a longstanding advocate for community and economic development.

“A high school education is often a dream deferred for so many deserving students unable to afford the cost of tuition to attend some of Jamaica’s leading high schools.

The Osei Rubie Charitable Fund has helped us expand our capacity to provide six additional scholarships totaling forty-two and offer new laptops to 10th-grade students for this academic year,” said Dwight Green, the executive director of Future Leaders of Jamaica.

“One gesture of goodwill, such as purchasing a team’s uniforms, is all it could take to forever transform minds and communities. With the generous support from the Osei Rubie Charitable Fund, we were able to subsidize the enrollment fees for several of our scholar-athletes whose families did not have the financial wherewithal,” said Jacques M. Léandre, Esq., president of the Rosedale Jets Football Association.

The Osei Rubie Charitable Fund is empowering families of all sizes and economic backgrounds by expanding access to supportive services, scholarships, mentoring, and career development.

“Our No. 19 ranking among all HBCUs underscores both the high quality of the education we provide and the cost-effective, real-world value a degree from Lincoln University represents.  We are able to achieve this important ranking because of the committed support from donors like Mr. Osei Rubie and the Osei Rubie Charitable fund,” stated Brenda A. Allen, president of Lincoln University.

“This has been a very long five years; college has really been hard for me. I learned a lot from experiences that taught me lessons that I will take with me for the rest of my life. I would have never expected to end my college years with a scholarship in the form of a computer, and I am truly grateful for it,” said Ellisa Martin, a Lincoln University senior and first recipient of the Osei Rubie Technology Scholarship.

Rubie hopes that his Fund will serve as a blueprint to establish a pipeline for young, seasoned, and retired professionals to make monetary contributions and impart their life experiences towards building a better tomorrow.

 

/

This Family Owned Business Closed over $500 Million in Real Estate Deals In One Year

National Standard Abstract is a family-owned title insurance company located in Floral Park, NY. In 2018 they closed more than $500 million in commercial real estate transactions and have since closed over $1billion in transactions!

In June 2018, NSA closed a total of $432 million in faith-based and affordable-housing development transactions. The non-faith-based deals include the $189 million Archer Green in Jamaica, Queens; the $47 million Regina Pacis Housing in Gravesend, Brooklyn; and a $42 million project in Harlem.

We spoke with NSA founder and CEO, Osei Rubie to learn more about him, his background and future plans.

family owned
Osei Rubie

What led you to get involved in the title insurance industry?

14 years ago, I was refinancing my personal residence and once I realized that title insurance was required; I did not want to pay for this cost, perceiving it as optional. The bank attorney then explained that this was a mandatory cost that the bank required to confirm that they were no current defects in title, violations, liens, or outstanding judgments.

I then asked the bank attorney, who happened to be a friend of mine, if he had a business relationship with the title insurance company; which led to him setting up a meeting for me to speak with them after the closing. After meeting with the company, I learned that they were not only publicly traded, but the largest underwriter of title insurance in the country.

At the time I was working with a pharmaceutical company, so when a permanent position to begin as a sales executive 2 weeks after we met was offered, I accepted thus beginning my career in the title insurance industry.

NSA focuses on faith-based affordable housing development projects. Why did you decide to focus on this niche?

New York City’s independent churches represent a significant portion of land ownership. As a result of Mayor de Blasio’s housing initiative, developers are constantly looking for new opportunities to create development projects, leading to the partnering of the two entities to create a faith-based affordable housing market.

This opportunity allowed us at National Standard Abstract to achieve our business mission in conjunction with our social mission.  Here at National Standard Abstract, we strive to identify new sources of transactions to provide title insurance; as well as focusing on underdeveloped communities and advancing the growth of affordable housing.

It has been said that it takes the same amount of time to close a $100,000 deal as it does a $1M deal. Would you agree or not? 

The layered complexities of real estate transactions vary dependent upon the sector of real estate the specific transaction falls under, (ie: residential, commercial, affordable housing, faith-based development, multi-state transactions). There have been times where the amount of effort for a transaction under $500,000 may resemble a multi-million-dollar transaction.

But normally, no I do not find it commonplace that a multi-million-dollar transaction and a $100,000 residential transaction, require the same amount of problem-solving and transaction focus.

Your father is an entrepreneur. Briefly describe his influence on your professional life.

My grandfather (Costa Rican), as well as my mother and father, were all entrepreneurs, in addition to numerous other family members. We lived in Liberia, West Africa for several years during my childhood, during which my mother and father started multiple businesses that included, 3 clothing retail stores for men and women, a clothing manufacturing facility for school and military uniforms, as well as a restaurant.

Upon our return to the United States, my parents were driven by the void of representation for black children within the toy industry. The passion to fill this void gave birth to one of the first mass-produced black toy lines in the country, Huggy Bean Doll. This product was in all major retailers on a national basis that sold toys (Toys R US, Walmart, Kmart, Target, etc.).

I was directly involved in this process at the end of my high-school career, by actively presenting new toy product lines to these retailers. This intense exposure to entrepreneurship both domestically and internationally was the ultimate training ground.

family owned
Osei Rubie (right), founder and CEO of NSA and his son, Nadir Rubie.

In the past 5 years, what new belief, behavior or habit has most improved your life?

The Power of Faith and Overcoming Doubt.

When I started in title insurance, they were many comments made to me that it was unlikely that I would be able to succeed as an entrepreneur in title insurance. So much so that people would tell me that my aspirations of owning my own firm were time not well spent.

In October of 2017 I was diagnosed with prostate cancer. This potentially terminal illness also has another layer of complexity in that there has been a significant advancement in technologically for this procedure (laparoscopic radical prostatectomy (LRP)). In the past, 10-12 years ago, this procedure could have a variety of results including impotence, but with new laparoscopic radical prostatectomy, this risk has been substantially minimized.

I had the surgery February of this year and when first diagnosed I was told that because of my aggressive and intense schedule with my business I would need to adjust my schedule accordingly and to expect my business revenue and sales goals to be reduced. Mental and physical conditioning has always been a major part of my business and life prep toolbox.

I’m happy to say that I defeated cancer this year making a complete recovery; while simultaneously having my best year in title insurance in my 14-year career.

Where do you see this business in 5 years?

Our goal within the next 5 years is to be the premier provider of title insurance nationally. We have provided title insurance for 2 multi-million-dollar commercial transactions in the state of New Jersey since we have begun in 2015, one for $15 million and the other for $35 million.

Our pipeline is filled with new out of state multi-million-dollar commercial transactions. Our focus on continuing to strengthen our position of leadership in the state of New York on multi-million-dollar commercial transactions will grow from this year’s banner accomplishment of over $600 million dollars closed and $274 million in Faith-Based development

What advice do you have for aspiring entrepreneurs?

First, assemble an informal team and then transition to a formal advisory team, including but not limited to legal, accounting, financing, and expert or experts within the field that you have an interest in.

By surrounding yourself with these individuals to give feedback and technical instruction on processes and procedures in your industry of interest, you can maximize your ability to bypass traditional problems and errors in a startup environment, and also maximize your ability to accomplish “stretch goals” in a short period of time.

 

-Tony O. Lawson

Related: This Black Owned Commercial Real Estate Firm Has Done Over $15 Billion in Transactions


Follow us on Facebook, Instagram & Twitter