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...

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...

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, ...

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...

Public School Coming to Angel Guardian Home Redevelopment

Barone Management has closed on the sale of a parcel of land to the New York City School Construction Authority in Brooklyn’s Dyker Heights neighborhood. The land sits within a 140,000-square-foot site that Barone acquired in August 2018. The new school building represents one of three development phases on the property, and has been part of the development plan since Barone acquired it. The plan also includes a new three-story residential building and the long-term preservation of the original Angel Guardian Home for Children building located at 6301 12th Ave.  This historic building ...

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...

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...

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...

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...

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...

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