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 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...

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...

The Powerful Pontes

Real estate family makes changes to longtime Tribeca holdings New York City is known for its loud, splashy developers. But quieter landlords often have equally valuable holdings. The low-profile Ponte family, for example, started buying parking garages, former warehouses and auto shops in northwestern Tribeca in the 1960s. Today, the family owns at least 30 properties in the now-trendy area, according to public records. The family’s firm, Ponte Equities, has rarely sold or developed any of its properties over the years and is sitting on a goldmine today, industry experts said. “Th...

Page 3 of 3123