NYC’s Robin Hood Foundation Uses Statistics to Fight Poverty

Headquartered in New York City, Castellan Real Estate Partners is a firm that specializes in renovating and selling undervalued properties. As part of Castellan Real Estate Partners’ community outreach, co-founders John Salib and Paul Salib are actively engaged in the Robin Hood Foundation, a non-profit organization that fights poverty and homelessness in New York City.

The organization provides funding for over 210 agencies that fight poverty in the city. To make sure the money is spent wisely, the foundation uses a system of metrics to determine the effectiveness of donations.

For instance, Robin Hood analyzes the costs and benefits for each service provider and quantifies their social impact for comparison with other groups. It also employs a counter-factual method of evaluation determining what would have happened to recipients if they had not obtained assistance. These 163 metrics consider a range of performance measures; for example, the foundation looks at the number of participants who attend a high-quality preschool whose families could not have otherwise afforded it and examined their educational outcomes.

Statistics show that, years later, the preschool program had a positive impact across several markers including rates of high school graduation, participants’ health, juvenile delinquency, child abuse, enhanced parenting, the cost of child care, and working parents’ increased productivity.

For more information about the Foundation and ways you can support , please visit www.robinhood.org/.

How to Choose an Agent for Distressed Properties Sales

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Properties aerial view Photo by Alex D’Alessio on Unsplash

Castellan Real Estate Partners is a New York-based fully-integrated investment firm that deals with real estate investments and development, lending, and property management. Co-founders John Salib and Paul Salib established Castellan Real Estate Partners during the U.S. 2008/2009 financial crisis to invest in distressed real estate investment opportunities.

Distressed property sales are associated with unique challenges that every investor should be aware of. For starters, it is best to seek the services of an expert who understands the intricacies associated with distressed properties.

Numerous certifications sharpen the skills of real estate agents that want to focus on the sale of distressed properties. For instance, the National Association of Realtors introduced a Short Sale and Foreclosure Certification program in 2009 where realtors familiarize themselves with both federal and state laws associated with foreclosures and short sales. In addition, there is a Certified Distressed Property Expert Certification offered by the Distressed Property Institute. When investing in distressed properties, it is vital to seek the services of an agent who whether they’re certified or not, has previously closed deals on distressed properties and is capable of successfully guiding you through the process.

Home That Belonged to Alexander Hamilton’s Son Sold for $10 Million

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East Harlem
Image: castellanre.com

Since 2009, Castellan Real Estate Partners in New York City has handled more than $1.2 billion in transactions, guided by partners John Salib and Paul Salib.

In 2016, Castellan Real Estate Partners acquired 4 St. Marks Place, an historic home once owned by Alexander Hamilton Jr., the son of the famed Alexander Hamilton, founding father and creator of our nation’s financial system. Hamilton, Jr and his family lived there for a period of years, providing the residence with its historic cachet.

The home has retained its historic characteristics even with the dynamic growth occurring around it. It is one of the only three original structures on St. Marks Place.

St. Marks Place has long been considered one of the hippest streets of the city with a vibrant culture and personality all its own. This is a legacy that has been maintained for generations, as artists, writers, and counter-culture personalities have called this place home. Past residents have included literary heroes such as James Fenimore Cooper, W.H. Auden, and William S. Burroughs, as well as revolutionaries such as Leon Trotsky and Emma Goldman.

The street also has deep musical roots. Thelonious Monk, Miles Davis, and Billie Holiday all performed at the Five Spot jazz club. The street is also famed for its architecture with its classic brownstones being featured in films, tv shows, and even on the cover of rock albums such as Led Zeppelin’s Physical Graffiti.

Castellan Real Estate Partners Capital Division Offers Quick Financing

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Castellan Capital
Image: castellancapital.com

Co-founded by managing partners Paul and John Salib, Castellan Real Estate Partners in New York City has conducted debt and equity transactions worth more than $1 billion in its 10 years in operation. In addition to its work in the development of investment properties, Castellan Real Estate Partners also hosts a capital lending division, through which the firm provides bridge and construction loans to clients.

The capital division of the firm is noted for its ability to quickly and easily meet borrower needs, as evidenced in the following three loan cases.

1. Acquisition in the East Village. The firm was able to produce a bridge loan of $5.5 million for a client in the course of six days to meet the borrower’s desire to acquire a multifamily building in the East Village of Manhattan. The capital vision’s team worked over Memorial Day weekend to ensure the funding was secured.

2. Mixed-Use Portfolio in Brooklyn. Providing the bridge loan in just one week, the capital division was able to help a client refinance a portfolio of five mixed-use properties in the Sunset Park neighborhood of Brooklyn. The total space of the five buildings encompassed 42,000 square feet.

3. Senior community in Maryland. The division was able to offer bridge financing worth $5.4 million much more quickly than the time required by traditional lenders for a client who wished to procure a senior community for individuals aged 55 and older. The team was able to provide the loan with remarkable speed due to the small, discretionary, and highly experienced committee at the helm.