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The Singer & Bassuk Organization arranges debt and equity financing and provides consulting services for major property owners headquartered primarily in the New York metropolitan area, on properties they own throughout the United States. Our corporate goal is to develop long term relationships with our clients in which we function as their "finance department" and work on all of their projects, large and small. In development transactions, we become a trusted part of the development team, with our involvement often beginning as the project is being conceived. A representative sampling of our clients can be seen on our Recent Deals page. The size of any one deal is less important to us than the potential for beginning or enhancing a lasting business relationship. While our average deal size exceeds $50 million, in the past year we have closed transactions ranging from under $5 million to more than $400 million. Undertaking a large range of deal types mandates that we keep in close contact with hundreds of lenders and equity providers, of different types, throughout the world.
Andrew J. Singer Andrew J. Singer is the Chairman & CEO of The Singer & Bassuk Organization. Mr. Singer is a member of the Board of Governors of the Real Estate Board of New York, past Chairman of the Finance Committee of the Real Estate Board of New York and the past Chairman and current Vice Chairman of the Real Estate and Allied Trades Division of UJA Federation of New York. In April 2007, Mr. Singer won the Real Estate Board of New York's coveted Most Ingenious Finance Deal of the Year Award for the third time. The transaction was the $256,500,000 construction financing of 20 Exchange Place in Lower Manhattan. It was the first time a broker has won the Award twice for arranging separate financings on the same property. In 2005, Mr. Singer won the Award for arranging the acquisition financing of 20 Exchange Place - combining first mortgage, senior & junior mezzanine, and mezzanine credit enhancement of an adjacent Liberty Bond project to procure 96% acquisition financing for a 40% occupied property with declining cash flow. In 2001, the winning transaction was The Kaufman Portfolio, which involved arranging loans totaling $205 million in a single placement covering the office buildings at 437 Madison Avenue, 747 Third Avenue, 777 Third Avenue, and 77 Water Street in Manhattan. Since 2003, Mr. Singer has been directly responsible for arranging mortgage and mezzanine financing in excess of $10 billion. In 2007 his activities have included arranging financing, often for the second, third or fourth times, for major office and residential properties including Carnegie Hall Tower, 747 Third Avenue, 777 Third Avenue, 230 Park Avenue South, The Archive, 50 Murray Street, The Lucida condominium, and 255 East 74th St, a condominium. In the past 8 years, SBO has arranged more financing for apartments created under the Financial District residential conversion program than any other intermediary, with construction and permanent loans totaling in excess of $2 billion. Among the Financial District projects in which Mr. Singer has been involved are 63 Wall Street, 67 Wall Street, 20 Exchange Place, 200 Water Street, 45 Wall Street, 88 Greenwich Street, 71 Broadway, 99 John Street and 50 Murray Street. Mr. Singer has been a guest lecturer on numerous occasions at Columbia University, New York University, The University of Wisconsin and at a variety of corporate meetings. He has been engaged as an "expert witness" to testify in various real estate litigation matters. Richard Bassuk is the President of The Singer & Bassuk Organization ("SBO"), and Chairman and CEO of The Bassuk Organization, Inc. ("TBO"), an affiliate of SBO. In this capacity, during 2005 and 2006, he has closed more than $2.7 billion in financing transactions for developers and investors. Mr. Bassuk serves as a trusted advisor to many of SBO's clients with respect to their individual projects and their general corporate strategies. He was recently profiled by The New York Times as one of the outstanding leaders in the financial community. See RICHARD BASSUK NEW YORK TIMES PROFILE. Prior to the organization of both SBO and TBO, Mr. Bassuk was President of Starrett Housing Corporation ("Starrett"), at the time one of the country's largest public real estate companies with substantial development, construction, single family and management operations. As Starrett's President, Mr. Bassuk was responsible for the initiation and supervision of all of Starrett's development activities, including over 20,000 units of residential housing and numerous projects involving government subsidies, including 80/20 projects. He was also responsible for the operations of (i) Levitt Corporation, which engaged in the single-family housing and rental housing business in the United States and Puerto Rico, as well as in the congregate care and assisted living business; (ii) HRH, one of the largest U.S. construction companies, which built CitiCorp Center, the Jacob Javits Convention Center, Trump Tower, and many other residential, commercial and institutional facilities; and (iii) Grenadier Realty Corp., a real estate management company with over 30,000 housing units under management. Previously, he practiced tax law at the firm of Carter Ledyard & Milburn. Mr. Bassuk's experience as an international developer, builder and owner is reflected in the sound and beneficial financing he arranges for his clients' medium and large-scale commercial and residential projects. The hallmarks of Mr. Bassuk's transactions are: the structuring of highly creative and sophisticated financing solutions; and the introduction of a vast spectrum of lenders to the process. Mr. Bassuk has arranged substantial debt and equity for his clients on both a project (acquisition, bridge loan, construction, and permanent financing) and company level. He is widely recognized for his mastery in employing special financing programs on behalf of his clients and in particular, rental buildings developed under the 80/20 program. In connection with the 80/20 program, Mr. Bassuk handles all processing required by the applicable State or City agency, and arranges the required credit enhancement. See SCOPE OF SERVICES for a list of typical services provided on these transactions. Mr. Bassuk also arranged over $1 billion in financing for Liberty Bond projects, utilizing bond financing with credit enhancement, and has been in the forefront of developing new financing techniques in these and other areas, working with both the State and the City. In addition, Mr. Bassuk has participated in projects that shape the landscape and economy of the City. Recently, he played a role in the development and redevelopment of many projects surrounding and revitalizing the Ground Zero area, and is currently involved in helping finance developments that will produce a new and vibrant Williamsburg. Mr. Bassuk graduated from the Wharton School, University of Pennsylvania, Magna Cum Laude in 1962, receiving a Bachelor of Science degree in Economics. He received an LL.B. from Harvard Law School in 1965. Since joining the real estate industry after graduation from Cornell University, Scott A. Singer has arranged construction and permanent financing in excess of $3.2 billion. Major projects have included 75 Wall Street (2006 and 2007), One Seaport Plaza (2002 and 2007), MetLife Plaza, The Mark Hotel and Two Chase Manhattan Plaza in New York City; as well as the Capital District Portfolio in Albany, NY; 215 Fremont Street in San Francisco, and 123 South Broad Street in Philadelphia. The Two Chase Manhattan Plaza transaction and his financing of 22 River Terrace in Battery Park City were finalists for the Real Estate Board of New York's Finance Deal of the Year award. Mr. Singer has arranged loans covering more than 8,000 apartments, 16 million sq. ft. of commercial and retail space, and a variety of more specialized properties including art galleries, schools, and the headquarters of both the United Federation of Teachers and the American Jewish Congress. Since September 11, 2001, he has closed loans totaling more than $1.3 billion in the Financial District of Lower Manhattan. Mr. Singer is a member of both the Board of Directors of UJA-Federation of New York and the Board of Directors of the Real Estate Board of New York's Commercial Division. He is a past Chair and Honoree of the Steering Committee of the REX (Young Real Estate Executives) Division of the UJA-Federation, as well as a former member of UJA's Emerging Leaders & Philanthropists strategic council; serves on the Advisory Committee of Vacamas Programs for Youth - an organization which provides educational opportunities and support to over 5,000 inner-city children from Newark and Patterson, NJ and Washington Heights in New York City; and is a member of the Real Estate Council of Carnegie Hall. He has served on the Associates of Beth Israel Medical Center and is active in his local synagogue. Mr. Singer has been a guest speaker for numerous organizations and educational institutions including the Cornell University Hotel School and the Real Estate Committee of the New York State Society of CPA's. He has been named one of Institutional Investor's "20 Rising Stars of Real Estate", Real Estate Forum's "Tomorrow's Newsmakers", and Real Estate New York's "40 under 40"; and has authored articles published in Real Estate New York and Real Estate Weekly; and is frequently quoted in a variety of national and regional publications including The New York Times. Mr. Singer resides in Chappaqua, New York with his wife and two young daughters. Kathleen McSharry, Senior Managing Director, has been with The Singer & Bassuk Organization and its predecessor firm since 1982. During that time she has had primary responsibility for managing the placement process of construction and permanent financing exceeding $2 billion. Ms. McSharry received her Masters Degree in Finance from New York University in 1992. She currently serves as a Board member of the Young Mortgage Bankers Association and the Association of Real Estate Women, and has acted as an advisor to the Board of the Notre Dame School in New York City. In both 2005 and 2001, Ms. McSharry and Andrew J. Singer of SBO won the Real Estate Board of New York's Most Ingenious Finance Deal of the Year Award Jeffrey Moroch, Managing Director - Mr. Moroch joined SBO in May 1999 and is responsible for the quantitative analyses provided to lenders and clients including cash flow projections, market analyses and offer comparisons. Prior to joining the firm, Mr. Moroch was an associate in Citicorp Real Estate's Global Real Estate Equity and Structured Finance group where he was involved in numerous asset disposition and sale-leaseback transactions. Mr. Moroch has an MBA from the Haas School of Business at the University of California at Berkeley and a BS from Columbia University. In 2003 he was a finalist for the Real Estate Board of New York's Most Promising Commercial Salesperson Award. James O'Reilly, Vice President - Mr. O'Reilly joined The Bassuk Organization ("TBO") in 2002 and is responsible for the qualitative and quantitative analyses provided to lenders and TBO clients, including development and cash flow pro formas, as well as the preparation of comprehensive financing packages. Prior to joining the firm, Mr. O'Reilly was a Senior Manager at Arthur Andersen LLP, heading the Real Estate Valuation and Consulting practice in their New York office. While at Andersen, he was responsible for the successful completion of portfolio projects involving securitizations and valuations of institutional office, industrial, multi-family residential and hospitality properties on both a national and international basis. Mr. Reilly has a Masters Degree from New York University, and is a Member of the Appraisal Institute with an MAI designation. Evelyn Savino, Analyst, joined The Bassuk Organization, Inc. ("TBO") in May 1996 and is responsible for the qualitative analysis provided to lenders and TBO clients, including development and cash flow pro formas, as well as the preparation of comprehensive financing packages. Prior to joining TBO, Ms. Savino was an analyst with Wexford Management, a company engaged in the real estate management business. |