Since 1986, when Greg Singer, a prominent New York City property developer and rehabber, formed Singer Financial Corporation, there has been some rather rotund turn-around to many previously blighted and unsightly properties that used to mar the residential acumen of New York City. The key goal of rehabbing any property is to be able to turn around the property and revitalize it, making it more economically profitable and ultimately contributing to a greater yield in land value in the immediate surrounding areas and to the benefit of all residents. This is a quest that has been more than two decades in the making for Greg Singer in New York City, and one that has yielded some rather respectable showings for his past endeavors as well; developments that benefit all residents nearby and that aid in resuscitating the slow-to-restart New York State economy.

OF NOTABLE INTEREST

The Villas in the Lake – located in the Mohegan Lake section of York Town, in Westchester County, had about a third of the property left abandoned by a previous developer who went bust during the economic slowdown. That one-third proved costly to the project and ultimately killed it, as no lending institutions were willing to finance the remaining portions of a failed project, which just sat there empty, like an eyesore. Greg Singer saw opportunity knocking and rebuilt the remaining units, including the parking lots and common areas located throughout the entire complex. The complex was revitalized for a realized increase in equity after it was finished being built-out.

Hackensack, NJ, hit hard by the recession had a stagnant apartment building that was vacant and plagued by a waterproofing problem. The rain would sweep in and flood the units, making them unsafe to occupy. Singer Financial Corporation revamped the entire unit and corrected the water flooding issue, revitalizing an abandoned area of a neighborhood relic that was called the Sussex House.

Manhattan, NYC – On the upper West Side, a popular building called the Chesterfield Condominiums was financially struggling. But seeing a way to rehab this poorly managed property, the Singer Financial Corporation purchased the building and remodeled it into beautiful and modern condominiums that provided free housing and social service for financially challenged seniors.

New Project Pending
The most current project on the ballot is an abandoned old school building that is located in Manhattan. It is commercially zoned and able to be zoned for a dormitory. Greg Singer has sets his sights on this property with hopes of revitalizing it and the surrounding area while providing affordable inner city housing for thousands of students who otherwise would be unable to live and afford to attend college in New York City. The project is being called The East Village Dormitory, and will offer affordable leases to several nearby universities so they can offer their students realistically priced dorms in Manhattan.