Month: June 2018

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...

BARONE MANAGEMENT ACQUIRES TWO SITES – INCLUDING DOMINICAN COMMERCIAL HIGH SCHOOL BUILDING – IN HEART OF JAMAICA, QUEENS

Plans Include Redevelopment of School Building and 225,000 SF of Residential Space Across Two New Buildings Barone Management, a New York-based development, construction and investment company, announced it acquired two parcels of land – 295,000 buildable square feet at 89-25 161st St. and 89-25 162nd St. – in Jamaica, Queens from the Sisters of St. Dominic. Upon completion in 2021, the two sites will include an educational institution – a tribute to the important work of the Sisters of St. Dominic -- and two new residential buildings. The announcement was made by Scott Barone, presiden...

BARONE MANAGEMENT TOPS OUT PESTANA HOTEL AT 338 W. 39TH STREET

Ceremony Marks Company’s Eighth Successful Hotel Development in NYC in as Many Years Barone Management, a New York-based development, construction and investment company, announced today the topping out of its eighth New York City hotel development. The firm is the developer and ground lessor of the property located at 338 West 39th St. in Times Square West where Barone is building a 177-room CR7 by Pestana Hotel for Portuguese-based Pestana Group. This site will be the second of many hotels planned in the United States and will serve as the hotel group’s US flagship. The announcement wa...

Choosing the Road Less Traveled In Long Island City

Barone Management is developing a 100,000-square foot office and industrial-flex space building, in Long Island City, NY. Multifamily and hospitality development has soared over the last decade in Long Island City,  the slice of Queens hugging the East River's eastern shore. One- and two-story warehouses had long squatted along the city's industrial byways, but steel-and-glass high-rises have supplanted those aging industrial edifices in a wholesale upending of Long Island City's traditional character. It seems everything in Long Island City has been purpose-built, designed and constructed...

What’s New With New-Builds?

NATIONAL REPORT—There are shovels in the ground for a slate of new-build projects in the U.S. CR7 by Pestana Hotel tops out; a new dual-brand has broke ground in Orlando, FL; Thompson Hotels returns to Miami; and more. CR7 by Pestana Hotel Tops Out Barone Management, a New York-based development, construction and investment company, has topped out of its eighth New York City hotel development. The firm is the developer and ground lessor of the property located at 338 West 39th St. in Times Square West where Barone is building a CR7 by Pestana Hotel for Portuguese-based Pestana Group. This ...

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