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CrowdStreet: 10 Gordon Drive Self-Storage

The real estate investment platform CrowdStreet launched an offering for a ground-up development of a self-storage facility in Long Island, New York. In times of adverse market conditions and economic uncertainty, a historically resilient and inflation-hedging investment avenue is self-storage facilities. The 10 Gordon Drive Self Storage project is in a market that’s seeing high demand for such facilities, which have seen a 94% occupancy rate and 10% rent growth over the last 12 months according to management company Extra Space Storage, which will provide the facility with its proprietary ...

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RealtyMogul: Bronx Charter School For Children

Real estate investment platform RealtyMogul opened the pledging window for an equity investment in a children’s charter school in New York City’s Bronx borough. Bronx Charter School for Children offering sponsor Barone Management acquired a 99-year ground lease for a 24,300-square-foot vacant commercial building in the South Bronx neighborhood. The property will undergo a renovation, including the addition of an additional floor to add 4,200 square feet to the building, which will become a school. Construction is underway and is expected to be completed by December 2024. An experienced te...

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CityPickle will open its first permanent location this week — here’s where

Getting into a year-round pickleball craze just got easier, as CityPickle's long-awaited indoor courts in LongIsland City — plus a bar, a shop and a restaurant — will open on Friday Sept. 15, The Post has learned. CityPickle's co-founders and long-time friends, Mary Cannon and Erica Desai, leased the permanent location —CityPickle's first brick and mortar, no less — at The Woodworks at 9-03 44th Rd., a newly developed red-brickindustrial property between Ninth and Tenth streets near Vernon Boulevard in the Queens neighborhood. “CityPickle is hoping to remove all the weather anxiety...

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Talonvest Arranges $13.8M Construction Loan for Long Island Self-Storage Facility

SYOSSET, N.Y. — California-based boutique advisory firm Talonvest Capital has arranged a $13.8 million construction loan for a self-storage facility in the Long Island community of Syosset. The facility will consist of 1,025 climate-controlled units and 86 drive-up units for a total of 103,440 net rentable square feet. Talonvest arranged the loan, which carried a five-year term and four years of interest-only payments, through an undisclosed commercial bank. The borrower and developer is Barone Management. Delivery is slated for late 2024. See the original article here. ...

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 ...

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How Lessons Learned In The Great Recession Are Helping One CRE Firm Grow During The Pandemic.

The pandemic, with its government-mandated closures, supply chain disruptions and other challenges, forced many companies to pivot hard to stay in business. For many business leaders, it was their first experience operating during a global crisis.  Others, however, could apply lessons learned during previous disruptions to not only help them navigate through the unpredictability of the pandemic, but to expand and seek new investors during uncertain times. Barone Management benefits from an organizational structure characterized by vertical integration, a shift that the company made during ...

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John Silviano featured in The Top 100 People in Real Estate Magazine

John Silviano’s career in real estate unexpectedly evolved out of a high school job working in a jewelry store located in his hometown of Whitestone, Queens, owned by a man named Frank Barone. During that time, John befriended Frank’s son, Scott, and after working under his tutelage for four years, joined Scott as principal and partner of his namesake firm, Barone Management, which was previously founded in 1999. Today, John still serves in that role, leading the New York City-based construction and development firm in major projects throughout the five boroughs. Having established a repu...

Bisnow/Miriam Hall View's Brian Klanksy, GFP Real Estate's Tom Ortinau and Silverstein Properties' Brian Collins speak at Bisnow's Queens event Oct. 27, 2021

Queens Real Estate Leaders Pin Hopes On CRE-Friendly Adams Administration

Property sales prices have come roaring back, apartments are filling up again and investors are looking for assets across Queens, but real estate power players in the borough home to more than 2.4 million people say government policies are still stymieing development. “A lot of our zoning laws are just outdated,” First Pioneer Properties President Suresh Sani said at Bisnow's Queens and Long Island City event Wednesday. “There is industrial business in Queens, but not as much as that the city is trying to preserve … Those people are moving to Mexico, Illinois and Ohio to do thei...

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Woodworks selected for 2021 building recognition awards by the Queen’s Chamber of Commerce.

The Queens Chamber of Commerce has announced the 29 outstanding construction projects that will be honored at its 2021 Building Recognition Awards October 27th, 2021. The Queens Chamber of Commerce has hosted a Building Awards ceremony since 1926. For over 90 years, business and community leaders have gathered to honor buildings and projects that have contributed to the architectural betterment of Queens and keep the borough vibrant, sustainable and livable. We are proud to announce that we have been selected as a top construction project by the Chamber of Commerce. ...

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Woodworks in LIC Draws Seven New Tenants

Cushman & Wakefield has arranged seven leases at The Woodworks LIC at 9-03 44th Rd. In Long Island City representing more than 30% of the building’s rentable space in less than four months since leasing efforts began in earnest. The Woodworks LIC is a 90,000-square-foot industrial and office property that represents the first ground-up industrial development in the neighborhood in more than 30 years.  A Cushman & Wakefield team of Joshua Kleinberg and Dale Braverman represented the landlord, Barone Management, in all leasing transactions.  “We’ve seen significant ...

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The Woodworks industrial property in LongIsland City is already 30% leased

The Woodworks LIC, a 90,000-square-footindustrial and office property in Long Island City,New York, is 30% occupied just months after itopened for leasing, according to Cushman &Wakefield. The real estate services firm said it arranged sevenleases at the building at 9-03 44th Rd. in theHunters Point neighborhood in less than fourmonths since leasing efforts began in earnest.  The Woodworks LIC is a 90,000-square-footindustrial and office property in Long IslandCity, New York. Cushman & Wakefield’s Joshua Kleinberg and DaleBraverman represented the landlord, BaroneManagement, in th...

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Little guys eat up 30,000 s/f of industrial space at Barone’s LIC property

Cushman & Wakefield has leased nearly 30,000 s/f of office and industrial space at Barone Management’s The Woodworks in Long Island City.  Situated at 9-03 44th Road The Woodworks LIC is a 90,000 s/f property developed by Barone to cater to small businesses being squeezed out of so-called last-mile space by e-commerce and logistics giants. The first ground-up industrial and light manufacturing building to be constructed in Long Island City in excess of 30 years, it features 21 ft. ceilings on the ground floor, 14 ft. ceilings on the second and third floors, heated and air-conditioned w...

Renderings Revealed For Apartment Building And Charter School At 80-52 47th Avenue In Elmhurst, Queens

Proposals to construct a new nine-story apartment building and charter school in Elmhurst, Queens are now under review by the Department of City Planning. The development site is approximately 70,000 square feet and bound by Long Island Railroad train tracks to the south, Whitney Avenue and 83rd Street to the east, and 82nd Street and 47th Avenue to the west.   Rendering of proposed residential building at 80-52 47th Avenue - Stephen B. Jacobs Group Aerial map of the project site for the proposed residential building and charter school – Stephen B. Jacobs Group The address of the reside...

How Online CRE Investment Platforms Have Unlocked a New Source of Capital

How Online CRE Investment Platforms Have Unlocked a New Source of Capital

Crowdfunding, also known as online syndication, has grown from a “nice to try” to a “must-have” source of capital for hundreds of CRE sponsors. Online investing platforms have helped firms raise billions of dollars in private equity by providing direct access to thousands of accredited investors across the U.S. But how did this way of raising capital get started? Why are some of today’s largest CRE firms turning to this new source of capital?

John Silviano in 2021 Real Estate/Construction 40 Under 40

At just 16 years old, John Silviano was introduced to New York City’s real estate sector while working at a jewelry store. Scott Barone, founder of Barone Management, was the store owner’s son, and, after taking a liking to each other, they started working together to grow the property management firm, Silviano says. The first large venture the pair took on involved a 99-year ground lease they acquired in 2011. After selling the property to a private equity firm in 2012, Silviano and Barone signed a development contract to eventually construct a hotel. Since their first major project...

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 ...

Work Wrapping Up On Pestana Hotel At 338 West 39th Street In Midtown

Construction is wrapping up on 338 West 39th Street, a 25-story hotel from Portugal-based Pestana Hotels. Located in Midtown between Eight and Ninth Avenues, the project is designed by Stephen B. Jacobs Group and developed by Brarone Management, according to permits filed in 2015. Sam Chang, a well-known hotelier in New York City, purchased the 50-foot-wide site for $22.5 million. Photos of the main northern profile show the exterior substantially finished with only the ground floor left to be worked on. 338 West 39th Street, photo by Michael Young 338 West 39th Street, p...

Ivy Realty acquires hotel at 338 West 39th Street

Ivy Realty has acquired a hotel at 338 West 39th Street in the Garment District from Sam Chang’s McSam Hotel Group for $31.5 million, Crain’s reported. The 175-key hotel spans 59,244 SF, and was originally scheduled to open for business this year, but the pandemic has likely changed those plans. Worth Noting: The development was branded under Pestana’s lifestyle hospitality flag CR7, a partnership with soccer star Cristiano Ronaldo. Barone appears to have been partner: Chang paid $22.4 million for the 50-foot-wide site in 2015, which originally housed a 12-story factory buil...

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