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...

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...

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:

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.

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...