Father-son duo Osei Rubie and Nadir Rubie lead National Standard Abstract, a Black-owned title insurance firm that has reportedly closed more than $2 billion in transactions, Shoppe Black reports.
According to reports, the achievement was reached thanks to public-private partnerships spanning decades and a portfolio, which includes commercial and residential transactions such as affordable and market-rate developments in the New York metropolitan area.
“With 1 million ways to fail, we came up with 2 billion reasons to succeed as Black entrepreneurs,” said Osei Rubie, President and Founder of National Standard Abstract, according to Shoppe Black.
From the beginning, it was clear a bright future may be ahead.
They rang in transactions said to be valued between $24 million to $43 million just within their first year of operation. In 2023, they are smashing their goal with plans to close individual commercial transactions surpassing an impressive $300 million.
What’s more, the founders are using the firm to support the Black community. Each percentage of every closed transaction will go toward areas such as education, entrepreneurship, youth programming, sports, and community development.
“This $2 billion milestone is significant because it illustrates the correlation between representation, investment in marginalized communities, and their long-term impact on thousands seeking jobs or homes for their families,” said Nadir Rubie, partner at National Standard Abstract, Shoppe Black reports. “I am proud of what we have accomplished by being true to ourselves since day one. We value every client and partner because relationships matter; that is the core principle of our business.”
Amoy Chin, Vice President of Closing Operations at National Standard Abstract also made a statement: “Every problem solved brings us one step closer to our mutual goal of transforming communities. We have supported our diverse clientele for the past eight years at every phase. It has been an incredible experience to watch the progression of their confidence alongside their projects.”
Looking ahead, the founders are working on providing title insurance for multifamily apartment buildings in the Big Apple.