Month: August 2018

Scott Barone

How ballsy Scott Barone is gonna keep on tickin in NYC

After nine years of steady, if unexciting work as a general contractor, Scott Barone’s big break was supposed to come in 2008 when his firm landed a ground-up residential project in Tribeca. But that job never got on its feet. Months after Ponte Equities filed permits for the 11-story condo as 231 Hudson Street, Lehman Brothers went belly up and the bottoms fell out of the banking industry, real estate market and economy, at large. “I’d just gotten married, my wife was pregnant at the time, we were in the middle of building a white whale of a house and I had a warehouse in Queens t...

Former Angel Guardian Home complex in Dyker Heights, Brooklyn/ Image provided by Barone Management

Barone Acquires $37.5 Million Former Angel Guardian Home

The developer purchased the 140,000 square-foot former orphanage property with plans to build market-rate, affordable and senior housing and educational facilities. NEW YORK CITY—Barone Management, a development, construction and investment company based in New York City, purchased the former Angel Guardian Home for Little Children from the Sisters of Mercy for $37.5 million. The roughly three-and-a-half acre lot is bound by 63rd and 64th streets and 12th and 13th avenues, in the southwest Brooklyn neighborhood Dyker Heights, which is located between Bay Ridge and Bensonhurt. Scott Baron...

Barone closes on $37M Dyker Heights buy

Developer plans 300K sf mixed-use project Scott Barone’s Barone Management closed on the $37.5 million acquisition of the former Angel Guardian home in Dyker Heights from the Sisters of Mercy, the company said Thursday. Barone plans to build a 300,000-square-foot mixed-use project at 6301 12th Avenue including 150 market-rate condos along with affordable rental units, senior housing and a school. Construction is set to start in 2019. According to Barone, the sale includes a deed restriction requiring 15 percent of residential units to be affordable. 60,000 square feet will be set as...