Barone Invests in School and Multifamily Development in Jamaica, Queens
Barone Management has acquired two parcel of land, 295,000 buildable square feet at 89-25 161st St. and 89-25 162nd St, with two buildings and a parking lot, in Jamaica, Queens. The Manhattan-based development, construction and investment company paid $20 million in cash to the sellers, the Sisters of St. Dominic. The real estate firm plans to redevelop the school facility and build ground-up two residential buildings. Scott Barone, president of Barone Management, does not refer to development trends in Jamaica as “gentrification.” But he tells GlobeSt.com, “Overwhelmingly, the growth...