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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...

Angel Guardian Home poised for its next act

A new school, assisted living, affordable housing and more The storied Angel Guardian Home in Dyker Heights will soon house a new school, an assisted living facility, affordable housing and, the developer hopes, a secondcoming of the senior center that shuttered inside the facility last spring. The approximately 140,000-square-foot, blocklong property located at 6301 12th Ave. was sold for $37 million to development firm Barone Management at the end of 2017 by the Sisters of Mercy — longtime owners of the old orphanage whose “mercy” was oft-questioned in the wake of the hush-hush sa...

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 facility By Betsy Kim 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 Ridg...

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 crowd funds equity for new Queens school

New York based development firm Barone Management has crowd funded $6.5 million to build a new Queens school. The company announced it worked with online investment marketplace CrowdStreet to raised the equity which tops up a $22.5 million construction loan from Metropolitan Commercial Bank and $6.8 million in sponsor equity for the project. “This is a special project with a social impact investing component, which we thought would be appealing to individual investors on the CrowdStreet platform,” said Scott Barone, founder and principal of Barone Management. “Raising equity on ...

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 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 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 Launching First Fund To Buy New York Assets

Amid concerns about investors fleeing New York City for more tax-friendly states, one developer is banking on a swift local recovery and launching a fund to snap up assets. “Do the taxes suck here? Sure, but they were like that before. Is the political environment challenging? Sure, but that was the case pre-Covid,” Barone Management principal Scott Barone told Bisnow in an interview this week. His company is launching a fund next week with a $40M target raise to invest in commercial and residential real estate assets in the New York metropolitan area. “This city will find ...

Barone Management Purchases Mixed-Use Development Site in Brooklyn for $37.5M

NEW YORK CITY — Barone Management has purchased the former Angel Guardian Home in the Dyker Heights neighborhood of Brooklyn for $37.5 million. The seller was undisclosed. The New York-based development company plans to redevelop the site into a 300,000-square-foot mixed-use project. Sixty percent of the property will be devoted to approximately 150 market-rate condos, with an additional 15 percent reserved for affordable housing. The remaining 25 percent will be split between seniors housing and an educational use. Construction is expected to begin in 2019.

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’s Scott Barone Acquires Three Bronx Leaseholds

Lee & Associates NYC represented the fee owner and procured a leaseholder for three properties in the Bronx. Located at 629 Courtlandt Ave., 1680 Southern Blvd. and 4035 White Plains Rd., they were built in the early 1970s and total more than 66,000 square feet, with 74,000 square feet of combined air rights for community facility use.  Ben Tapper, director of Lee NYC’s National Investment Services Group, was the sole broker. The new leaseholder is Scott Barone, founder of Barone Management. The Gargiulo family owns all three buildings.  “These buildings have been owned by the ...

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...

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...

BisNow’s: This Week’s N.Y. Deal Sheet

Top Sale: Barone Management paid $37.5M to the Sisters of Mercy for the former Angel Guardian Home in Brooklyn's Dyker Heights neighborhood, the company announced last week. Barone plans to turn the site at 6301 12th Ave. into 150 market-rate condos, affordable rentals and a school. Construction is expected to start next year. Read more at: https://www.bisnow.com/new-york/news/deal-sheet/this-weeks-ny-deal-sheet-92021?utm_source=CopyShare&utm_medium=Browser...

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...

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...

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...

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