Browse Tag

real estate developer

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Adenah owns $220 Million in Real Estate, Multiple Restaurants and Creates Jobs in her Community

At age 13, Adenah Bayoh escaped the civil war in her native country of Liberia, immigrated to the United States, and is now one of the most successful entrepreneurs in New Jersey.

Adenah has amassed a $220 million real estate development portfolio of several major residential and commercial urban properties across northern New Jersey. She also operates several individual IHOP franchises and Cornbread, her own signature line of soul food restaurants.

In this interview, we discuss the ways her life experiences have contributed to her success. We also discussed her passion for giving back to her community, and how her grandmother inspired her to get into the restaurant business.

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Tony O. Lawson


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These Two Black Owned Real Estate Firms Have Closed over $60M in Deals Together

National Standard Abstract  (NSA) and CB Emmanuel Realty are two Black Owned Real Estate Firms that have closed over $60 million in transactions together.

NSA is a full-service title agency that has expertise in residential and commercial real estate transactions. CB Emmanuel Realty is a real estate developer and investor of Affordable Housing properties.

On December 12th, 2020 National Standard Abstract provided title insurance for a $32 Million deal involving CB Emmanuel Realty. This transaction involved the preservation of Calvary Baptist Senior Housing in Jamaica Queens NY.

This is not the first time these companies have collaborated on deals of this size. In August of 2020, they closed another $30 million affordable housing transaction.

In this interview, Osei Rubie, CEO of NSA, and Chris Bramwell, CEO of CBE, discuss why they decided to join forces. They also discuss the importance of networking and building relationships.

Both men credit much of their success to their fathers and are now passing lessons learned to their children. Osei and Chris also explain how and why they are giving back to the community.

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Tony O. Lawson


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African and African American Entrepreneurs Collaborate to Build a Community in Ghana

Kofi Anku is a shareholder and board member of Ayi Mensah Park, a vibrant of 200 unit townhouse community nestled at the foot of the Aburi Hills in Accra, Ghana.

This real estate development is the result of the collaboration between Black-owned businesses that operate in Ghana and in the U.S.

In this interview, we discuss:

1) The resources and opportunities available in Ghana

2) The importance and benefits of Black businesses collaborating.

3) Honoring the vision Malcolm X had for Black American and African unity.

African American Entrepreneurs

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Tony O. Lawson


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Meet David Moody, Owner of a Construction Company That Has Done $3 Billion in Deals

Our previous article about C. David Moody has been shared over 1.3 million shares and counting. That tells us that you all want to know more about the man that built C D Moody Construction, one of the largest construction firms in the country.

We caught up with Mr. Moody to find out more about him and his business.

David Moody
C. David Moody

What inspired you to start your business?

I worked for some small construction companies and a very large construction company and this might sound strange, but it just kind of happened. I had reached a point where my wife and I said we don’t have anything to lose, so let’s give it a try. That is how it all happened. Our first office was our bedroom.

What is the most challenging and most rewarding thing about being an entrepreneur?

The most challenging is not giving up during times of struggle and despair. If married your spouse must be all in. My wife went back to school and became a registered nurse, so we could have a steady income.

The most rewarding is never missing a payroll in 32 years and knowing what we started as a dream has helped others create a great life for themselves. Giving back to help others is a great feeling.

You are pretty open about your childhood trauma. Why is it important for you to speak up about it?

I speak up because I remember suffering in silence about being a survivor of childhood sexual abuse. I had a complete emotional breakdown in 1992, and our business was only 4 years. I had to suffer in silence and I had to heal in secret. That cost me some valuable time in my business growth.

I don’t want anyone to suffer in silence from trauma. I want to help others heal and see they can not only survive but thrive. We will all be knocked to our knees in life. The good news we are stronger than we realize. We can and we will get up. I speak up so others know they are not alone on the journey of healing or life.

David Moody
Former Atlanta Mayor Andrew Young (left) and David Moody.

What do you attribute the growth and longevity of your company to?

I attribute my longevity to God having a plan for me to not only be a successful contractor but to use my platform to help others turn trauma into triumph.

The other reasons are my wife and I have never had an expensive lifestyle and I have loved architecture and construction since I was a child.

I am living a dream that I didn’t think would happen for me. I grew up in the 1960s. I didn’t see any Black contractors growing up.

What advice do you have for aspiring for success in the real estate/construction industry?

First, it must be your love. Money can’t be your focus. Focus on being excellent in your craft and the money will follow. Be present in life and have a blast every day. Be patient and enjoy life. Keep your faith strong and put positive energy into the universe. Don’t cut corners and honor your word. Never lie and let honesty guide your steps.

 

-Tony O. Lawson


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Queen Latifah is Investing in a $14 Million Real Estate Project in NJ

Hip-hop icon Queen Latifah is returning to her hometown of Newark to invest in a cluster of multi-family town homes along Springfield Avenue and South 17th Street.

The $14 million project is expected to break ground in the summer.

Latifah, a co-president of BlueSugar Corporation, is working with GonSosa Development on the project, which is anchored outside of the city’s downtown, spanning the West and South wards.

The project includes 20 three-family town homes and a three-story mixed-used building with an additional 16 units. Plans for the building include a fitness center and 1,900 square feet of commercial space that will be rented to nonprofits. The 60 units in the townhouses will be market rate; the 16 units in the building will be affordable.

A rendering of the 76-unit residential town homes coming to Springfield Avenue and South 17th Street in Newark. (Courtesy: BlueSugar Corporation and GonSosa Development) BlueSugar Corporation and GonSosa Development

Rents for the market rate units will start around $1,800 a month and are expected to open by December 2020. The affordable housing building is expected to be finished in December 2021; units there will be priced according to a person’s income.

Cristina Pinzon, a spokeswoman for the developers, said both companies recognize the need for affordable housing in and around Newark.

A rendering of the 76-unit residential town homes coming to Springfield Avenue and South 17th Street in Newark.  (Courtesy: BlueSugar Corporation and GonSosa Development) (BlueSugar Corporation and GonSosa Development)

“They understand how difficult it is to make ends meet for many residents and want to be part of the solution. They remain dedicated to making life better in communities like Newark,” she said in a statement.

Latifah, who was born in Newark and raised in East Orange, has previously embraced her Jersey roots. As the commencement speaker for Rutgers-Newark last May, Latifah told the graduating class, “I couldn’t be more proud to be one of Newark’s own today, this is home.”

“Today’s Newark is stirring again, stirring because our greatest export was never a product, it’s always been the people. People like each of you — unique, strong, creative individuals,” she went on to say.

Source: NJ.com

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Meet The Black Real Estate Developer Who Built Her Own 51 Home Community

Pam Brown Courtney is a real estate developer/investor and educator. She’s also the only person I know of that has built a 51 home subdivision from the ground up. Obviously, we had to know more about this amazing woman.

Black Real Estate Developer
Pam Brown Courtney

How did you get started in Real Estate?

A friend of mine’s mother was a real estate investor and I started volunteering to help her keep up with her files, collect her rent, and help her clean out her rental houses.

So, the more I volunteered to help her, the more she taught me, and the more she taught me ,the more I liked it. The more I like it, the more I loved it, and the more I loved it was the more I asked her about it.

Black Real Estate Developer
What inspired you to develop Covenant Cove Community?

I saw this amazing community in Little Rock that looked similar to mine, in my opinion. It had the same kind of feel to it. It was cute and it was small. It was just a nice little community. So I went over there to the community to look around at some of the houses, and the people weren’t friendly toward me.

I didn’t want to live in a neighborhood where people weren’t friendly. So, I went home and said, “You know what, I can build my own community like that and I’ll be nice to the people that live there.” That’s exactly where the idea came from.

How did you locate and decide on the location for Covenant Cove?

The Universal God gave the location to me. I’d like to make it sound really fancy like I hired some architects, engineers, realtors, prospect lookers, and investors. That sounds really professional and all of that. But the real prophetic thing is that I asked the Universal God to help me.

I told him I was new at this, and I needed some guidance and direction. He sent me to a vacant piece of land and said, “Here it is right here.” I don’t even think it had a for sale sign on it.

It was just a vacant piece of woods and the Universal God said, “This is it. This is what I’ve been saving for you.” That’s the truth. I know it doesn’t sound all fancy, but I’ve got to give it to you. That’s just the way I received it.

One of your renovation projects seems to have a special personal meaning. Can you explain why the Ponder’s Drug Store project may be especially important to you?

Ponder’s Drug Store has special meaning to me because I am a Little Rock Central High alumna, class of 1982. The older I get the more I realize the benefit of being able to graduate from Little Rock Central High School.

Pam Brown Little Rock Central High School Alumni Class of ’82

With all that happened in 1957, Ponder’s is really dear to me because Elizabeth Eckford, one of the Little Rock 9, tried to escape the loveless behavior of the mob that was being rude to her and she went to Ponder’s and they locked the door in her face and wouldn’t let her in.

So now that we own Ponder’s, we are going to unlock the door and allow everybody that’s anybody to join in with all the good things we have to offer them with our upcoming Student Educational Historic District.

In this Sept. 4, 1957, photo, students of Central High School in Little Rock, Ark., shout insults at Elizabeth Eckford as she calmly walks toward a line of National Guardsmen.

The district will be the new home of Entrepreneurship, Financial Literacy, Science, Technology, Engineering, Arts, Math, Professional Development and so much more for all students.

Black Real Estate Developer
Why is it important for you to speak to the younger generation about real estate?

It’s important to me because someone invested that into me. Someone planted the seed of hope in me. I’m not going to say that every young person should get involved in Real Estate. As a matter of fact, I don’t think they should. What I do think is true is that I want to expose young people to Real Estate and what’s available in the Real Estate world.

With that being done, they get to decide. You can’t choose to do something if you don’t know it exists. So my job is just to plant the seed and to create options. That’s one of my favorite words, “Options”. I like you to know what options are available; and if I expose you to them, now you know they exist and you get to do with that information what you wish. But you can’t decide what you want to do if you don’t know it exists.

 

Tony O. Lawson


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Black Real Estate Businesses & Professionals

From the beginning of recorded time, real estate or land and property ownership has been responsible for the creation of many fortunes. Here are some Black real estate business owners and professionals who are at the top of their game.

Black Real Estate Business Owners & Professionals

Ayesha Selden (Philadelphia, PA) is a self-made millionaire who has amassed a real estate portfolio of 0ver 30 properties and 41 units. She is also an author, public speaker, and coach.

black real estate

Cedric Matheny (Atlanta, GA) is Principal and Vice at President T.Dallas Smith & Company. He specializes in Tenant and Buyer representation services for corporate users of office, industrial, retail, and land. He also advises clients on-site selection, real estate investment, and real estate development.

black real estate

Eze Okwodu (DMV area) With over fifteen years of experience as a real estate investor, Eze is committed to helping his clients find their dream properties that not only meet their needs but are sound financial investments.

black real estate

Daniel D. Thomas (Bridgeport, CT) Since starting his career at the age of 19. By the age of 23, he became one of the youngest Real-Estate Brokers in the country to open his own firm Daniel D. Thomas Real-Estate.

black owned real estate

Kofi Nartey is the founder of Society Real Estate & Development. A leading authority on luxury real estate, he is the go-to broker for celebrities, prominent sports figures, and affluent clientele around the globe.

C. David Moody (Lithonia, GA)  is the President and Chief Executive Officer of C.D. Moody Construction Company, Inc., one of the largest Black-owned construction firms in the U.S.

black owned construction company

G. Lamont Blackstone (Mount Vernon, NY) is the principal of G. L. Blackstone & Associates LLC, a commercial real estate consulting firm specializing in urban markets.

Lisa Phillips (Arlington, VA) is the founder of Affordable Real Estate Investments. She is also a real estate investor who is passionate about teaching others how to “cash in on working-class neighborhoods for higher profits.”

black real estate

Scottie Smith (Houston, TX) is the Managing Broker at Scottie Smith II & Associates. Mr. Smith specializes in sales, investments, property analysis, and valuation of multifamily and single-family properties in Texas.

black real estate

Roy Donahue “Don” Peebles (Washington D.C.) is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation, the largest African American-owned real estate development and ownership company in the US.

black real estate

 

Harrison Beacher (Washington, D.C) has dealt with and successfully helped close every kind of deal from multi-million dollar sales, to foreclosures, short sales, co-ops,estate sales, first-time buyers, Down payment assistance program deals, investors, rentals, and everything in between.

Adenah Bayoh ( Irvington, NJ) is the founder and CEO of Adenah Bayoh and Companies, a real estate development portfolio with over $250 million dollars in urban redevelopment projects.

black real estate

Quintin E. Primo III (Chicago, IL) is the co-founder and CEO of Capri Capital Partners, a real estate investment firm specializing in mezzanine investments in real estate private and publicly held companies.

Kenneth H. Fearn (Los Angeles, CA) is Founder and Managing Partner of Integrated Capital LLC, a leading hotel-focused, private real estate advisory and investment firm. 

mTkalla (pronounced T’kalla) Keaton (New York, NY) has over twenty-five years of experience managing properties in Brownstone Brooklyn.

Egypt Sherrod (Atlanta, GA) is an award winning Realtor ® and CEO of The Egypt Sherrod Real Estate Group. Egypt’s daily business activities include counseling modest first-time home buyers to quarterbacking the listing/marketing of homes owned by corporate leaders, celebrities, physicians and investors throughout Atlanta.

Brendan Wright (Atlanta,GA) is a realtor with Atlanta Fine Homes Sotheby’s International Realty and a Certified Negotiation Expert. In 2013, Brendan was recognized as Atlanta Fine Homes Sotheby’s International Realty’s youngest Multi-Million Dollar Sales Club member.

Michael Russell (Atlanta, GA) is the CEO of H.J. Russell & Company, a vertically integrated service provider specializing in real estate development, construction, program management, and property management. Michael founded the company in 1952 and led it for 50 years.

Victor MacFarlane (San Francisco, CA) is chairman and chief executive officer of MacFarlane Partners, which he founded in 1987 to provide real estate investment management services to institutional investors.

Kenneth Bacon (Bethesda, MD) is Co-founder and Managing Partner of RailField Partners. Prior to forming RailField, Ken spent 19 years at Fannie Mae, most recently as the Executive Vice President and Head of the Multifamily Business.

Sundra Ryce (Buffalo, NY) is the President and CEO of SLR Contracting & Service Company, Inc. SLRoffers commercial general construction, construction management, and design-build services for new construction and renovation projects, schools, nuclear facilities, and government projects.

 

-Tony O. Lawson

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