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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 recent years 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 2008, Mr. Singer won the Real Estate Board of New York's coveted Most Ingenious Finance Deal of the Year Award for the fourth time and for the second straight year. This was a complex $225 million financing of the rehabilitation of a major apartment house in Tribeca that unlocked substantial sums of untapped equity for the ground lessor. The 2006 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. His activities 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 financing of more of the apartments created under the Financial District residential conversion program than any other party, totaling construction and permanent loans 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 engaged on numerous occasions as an "expert witness" to testify in various real estate litigation and arbitration matters. His clients in these matters have included some of the largest property owners and most prominent law firms in New York City. 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. 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. Richard is recognized as one of New York's pre-eminent real estate investment bankers and mortgage brokers - bringing lenders and equity investors to developers and owners to provide them with debt and equity for the acquisition, construction and permanent phases of a project. The numbers speak for themselves: Richard Bassuk has arranged over $4 billion for new developments and redevelopment projects. Many of these projects are located in Lower Manhattan, where Richard helped developers secure more than $1.4 billion in Liberty Bonds for their projects. Many of New York's most prolific and experienced developers look to Richard for help in securing financing for their deals - not just "money," but the smartest money with the best arrangements to insure their buildings will rise. He has been profiled by The New York Times as one of the outstanding leaders in the financial community. See RICHARD BASSUK NEW YORK TIMES PROFILE. In addition, Richard is unique in his experience: Prior to forming both SBO and TBO, Mr. Bassuk was a developer. For many years he was President of Starrett Housing Corporation (Starrett), a large public real estate company 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 the development and/or construction of 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. Using this experience, he is able to bring together lenders and developers with a singular knowledge of how all the moving pieces in a project under development fit and complement each other. With this unique background, he brings his clients a wide range of experience as a developer and owner, as well as almost 30 years of experience in successfully financing medium and large scale commercial and residential projects. Mr. Bassuk has been involved in raising substantial debt and equity for his clients on both a project (acquisition, bridge loan, construction and permanent financing) and company level. He serves as an advisor to many of SBO's clients with respect to their individual projects and their general corporate strategies. Mr. Bassuk has also been extremely active in financing 80/20 projects utilizing bond financing with credit enhancement, and has been in the forefront in developing new financing techniques in these areas. For 80/20 transactions, 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 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. Richard is also a world-traveler and takes at least five weeks off each year to visit new and exotic locations. Recently he went on Safari in Africa and took a journey to India. His office features art from his many travels. Scott A. Singer has arranged several billion dollars of construction and permanent financing on behalf of sophisticated real estate owners and developers. Major projects in New York City have included 75 Wall Street (twice), One Seaport Plaza (twice), MetLife Plaza, The Mark Hotel, Two Chase Manhattan Plaza, and 636 11th Avenue; as well as the Capital District Portfolio in Albany, NY; 215 Fremont Street in San Francisco, and 123 South Broad Street in Philadelphia. Scott has arranged financing 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. Scott 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 was Chair and Honoree of the Steering Committee of the REX (Young Real Estate Executives) Division of the UJA-Federation, and a member of UJA's Emerging Leaders & Philanthropists strategic council, the Real Estate Council of Carnegie Hall, and the Associates of Beth Israel Medical Center; and 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. Scott writes a monthly column for The New York Observer's "Commercial Observer", has appeared on CNBC's "Power Lunch", and is frequently quoted in a variety of national and regional publications including The New York Times & Wall Street Journal. He is a guest speaker for numerous organizations and educational institutions including the Cornell University Hotel School, 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, Real Estate New Jersey, Real Estate Weekly, and others. Scott received a B.A. from Cornell University and lives in Chappaqua, NY with his wife and two 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 $4 billion. Ms. McSharry received her Masters Degree in Finance from New York University in 1992. She has served 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. Ms. McSharry and Andrew J. Singer of SBO are four time winners of the Real Estate Board of New York's Most Ingenious Finance Deal of the Year Award, having won in 2008, 2007, 2005 and 2001. 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. Andrew Rosen, Associate Director, joined SBO in 2006 and has been involved in the financing of over $1 billion of closed real estate transactions. Asset types have included multi-family housing, condominium developments, office, retail, industrial and land. Responsibilities include new business development as well as performing due diligence, financial underwriting, creating investment packages, placing debt and arranging strategic joint venture equity. Andrew also serves as an asset manager for a mixed-use investment property located in Saratoga Springs. 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. |