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, the two have gone on to develop over 1 million square feet of property, including hotels, charter schools, and retail and office space.

“I definitely like having the variety,” says Silviano, who is now a principal with the firm.

In the industry, Silviano says Barone Management is unique in its practice of underwriting its own development projects and facilitating the construction management of those projects.

“We’re very hands on. We’re willing to take calculated risks that maybe some of our competitors aren’t, and we try to do many different facets,” Silviano says.

Despite challenges facing the real estate and construction sector as a result of the coronavirus pandemic, Silviano says the firm has continued to undergo tremendous growth, citing its new leap into crowdfunding, through which it raised $7 million in an hour.

Recently, Barone Management has launched its first capital fund with the goal of raising $40 million to complete 10 projects in the next 12 to 24 months.

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