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With Amazon Looming, The Need For More Construction Workers Grows More Dire New York Construction & Dev

The New York City building boom shows no sign of slowing down, and the industry is faced with a profound challenge: making sure there are the people to fill the jobs in the years to come. Construction spending is set to reach $61.8B by the year’s end, according to the New York Building Congress. Employment has expanded as a result, with construction jobs to exceed 150,000, the seventh year in a row there has been an increase. But amid the wave of construction, developers and builders have grappled with a tight labor pool. Some expected an eventual pullback in development of luxury resi...

Dyker Heights Site Will Yield Market-Rate and Senior Housing

Barone Management has closed on its $37.5-million purchase of the former Angel Guardian Home in Brooklyn’s Dyker Heights neighborhood from the Sisters of Mercy. The proposed development site is the largest to become available in the Brooklyn neighborhood in over 40 years. Plans call for over 300,000 square feet of mixed use development. The complex will include a mix of market-rate condominiums, affordable rentals, senior housing and school facilities. “We’ve been working closely with local elected officials and community leaders for months in order to craft a plan suited to meet the s...

New Clinton Hill Charter School Wins Community Board Support

The charter school planned for Clinton Avenue faced some concerns about its industrial space, but was ultimately approved by the local board A new charter school is proposed for 30 Clinton Ave. (Barone Management) CLINTON HILL, BROOKLYN — A new charter school planned for Clinton Avenue has won the support of the full local community board. Community Board 2 members supported the recommendation of their Land Use Committee to approve the school's application by a vote of 27 in favor, seven opposed and six abstaining, district manager Rob Perris said. The approval is the second round of c...

Barone Management acquires Dyker Heights complex for $37.5 million,New York City

Brooklyn, NY According to Scott Barone, founder and president of Barone Management, a NY-based development, construction and investment company, the firm closed on its $37.5 million purchase of the former Angel Guardian Home in Dyker Heights from the Sisters of Mercy. The proposed development site is the largest to become available in the neighborhood in over 40 years and will yield much-needed housing for seniors and families as well as schools and other community facilities. Tim Sheehan of CBRE represented seller. “This is the perfect example of the private and public sectors working clo...

Barone Sells Part of Dyker Heights Site to City for Public Elementary School

Barone Management has sold off a portion of its big development site in the Dyker Heights section of Brooklyn to the School Construction Authority (SCA) for $17.5 million, Commercial Observer has learned. The SCA purchased a 24,000-square-foot piece of the former Angel Guardian Home property on Tuesday with plans to build a 600-seat public elementary school on the site, according to information from Barone. The firm, led by Scott Barone, bought the historic former orphanage complex at 6301 12th Avenue last August for $37.5 million from the Sisters of Mercy, an order of Catholic nu...

MORE MONEY CHASING DEVELOPMENT SITES, INDUSTRIAL IN QUEENS AFTER RENT REFORM

New York’s real estate community is still coming to terms with the impact of the historic rent reform legislation passed last week and how it could shape the commercial market. In Queens, some are banking investors will chase industrial and development assets in even greater numbers as a result of the landmark laws. Like most of the city, the investment sales market in Queens has slowed in 2019. A total of $1.1B worth of investment sales were recorded in the first quarter of this year, according to Cushman & Wakefield data, a 2% drop from 2018. The number of properties sales dropped, too, ...

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...

Barone’s CR7 by Pestana Tops Out in Times Square West

Barone Management has topped out on its eighth New York City hotel development, the CR7 by Pestana Hotel at 338 W. 39th St. The 177-key property will be Portugal-based Pestana Hotel Group’s second in this country and will serve as its U.S. flagship. The CR7 by Pestana lifestyle hotel brand is a partnership between Pestana and soccer star Cristiano Ronaldo. Barone Management founder Scott Barone said the 78,069-square-foot Times Square West location offers Pestana “the ideal location to launch its unique product.” 338 W. 39th joins a Barone roster of local developments that also include...

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 ...

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...

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...

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 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...

Angel Guardian developer reveals plans for beloved Dyker Heights property

The Sisters of Mercy have finally lifted the vow of silence. The confidentiality agreement that blocked the mystery buyer of the Angel Guardian Home in Dyker Heights from revealing his intentions for the block-sized complex finally loosened enough for him to speak about his plans for the site, and how the community’s voice helped shape them. Developer Scott Barone credited Brooklyn Paper sister the Bay Ridge Courier’s extensive coverage of local needs and concerns since the property’s sale last year as what informed his decisions to include a senior center, affordable housing, seni...

Warehouse frenzy spawns another Queens project

Long Island City building will cater to small users Barone Management is raising a building in Long Island City to tap into the city's warehouse craze. The firm plans to spend about $30 million to develop a three-story, 88,000-square-foot commercial building at 9-03 44th Road with warehouse space on the ground floor. Interest in warehouses has grown dramatically among investors as e-commerce and other logistics tenants have sought out storage space for last-mile deliveries in the city. Scott Barone, the founder and president of Barone Management, said that has displaced demand from tradit...

New Hotel at 456 Greenwich Street in Tribeca Officially Breaks Ground

It’s been more than two years since we’ve heard any news about 456 Greenwich Street, a large eight-story hotel development that’s been inactive since the extant structures were demolished. The silence was broken Friday, December 22nd, when Caspi Development, Mactaggart Family & Partners, and Barone Management celebrated the official groundbreaking in Tribeca. [caption id="attachment_283" align="alignright" width="350"] Approved design for 456 Greenwich Street, rendering by Stephen B. Jacobs[/caption] [caption id="attachment_282" align="alignright" width="350"] 456 Greenwich...

Revealed: 538 West 58th Street

Another site on the far West Side is moving along; permits indicate 538 West 58th Street will soon become an 18-story hotel with 230 rooms, measuring 62,544 square feet. The architect of record is Gene Kaufman, and the developer is Barone Management. Sam Chang is also involved, and the project has apparently been upsized since last year, when it was originally slated to have 208 rooms. Renderings have been posted on the perimeter fencing, and the project looks fairly typical for a Chang & Kaufman collaboration. The scope of 538 West 58th Street is more impressive than their average projec...

Sam Chang sells Hudson Square lease to hotel investor for $50M

Sam Chang’s McSam Group has sold the lease on a development site in Hudson Square to Eagle Point Hotel Partners, a New-York based hotel investment firm, for just under $50 million, city records filed Feb. 20 show.  The development parcel — which covers lots at 2 Renwick Street, 231 Hudson Street and 503 Canal Street — is owned by Ponte Equities, which leased the land to McSam in July 2011. In collaboration with partner Barone Management and architect Gene Kaufman, McSam has been building a 160-room hotel at the site, for which it purchased air rights from Rosar Realty in October...

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