Selling even the most prized of properties can often run into unexpected setbacks – building damage and unruly tenants, for example, hurt the value of the property and make it hard to sell for a suitable price. Unforeseen circumstances such as these can get in the way of even the most sought-after deals. A successful developer addresses such problems and creates value where it might not be easily seen.
As the CEO of real estate investment company Singer Financial Corporation, developer Gregg Singer has nearly 30 years of experience in the real estate industry. He and his company specialize in acquiring or revitalizing blighted properties and adding value. Such projects include The Chesterfield Condominiums in the Upper West Side, the Westchester County townhouse community known as Villas on the Lake, as well as the transformation of the former New York City public school known as P.S. 64 in East Village. His work is nationwide, with a focus in New York, California, and Florida.
One project he has worked on is the Sussex House in Hackensack, New Jersey. Despite the major advantage of a great location, the apartments were vacated due to a major structural flaw. The problem was that the Sussex House complex had the hard-to-fix issue of waterproofing – it would leak inside the apartments and cause severe damage every time it rained. Gregg’s team solved the flooding issue and these New Jersey apartments were able to be rented, the building financially stabilized, and were ultimately sold for a premium.
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