Difference between revisions of "Simon Baron Development"

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Simon Baron Development is a property developer and landlord, operating in New York City.[1] In fall 2019 the firm was invited to prepare plans for the development of the neighborhood around Anable Basin in Long Island City, Queens, on the east bank of the East River across from Roosevelt Island, together with two other property development firms.[2] The firm, in conjunction with TF Cornerstone and LL & Mag, set up fora to discuss their plans with local residents, in order to avoid the community distress locals felt when they thought the Amazon HQ2 proposal had been imposed upon them.[3][4]

In July 2019 the firm secured a $240 million loan to develop a property at 29-22 Northern Boulevard, in Long Island City, from Société Générale and Deutsche Pfandbriefbank.[5]

The firm helped introduce co-living to the United States.[6]

The firm is also known for introducing micro-unit apartments.[7] In Los Angeles, in 2016, the firm was a partner in refurbing the Hotel Cecil, which Curbed LA described as "historic and creepy". The firm would turn half the hotel's rooms into micro-unit apartments.

On November 1, 2019, when he was a speaker at a conference on New York City real estate issues, Matthew Baron, President of the firm, criticized recent New York State rent reform legislation, on the grounds it would damage New York City's budget, which relied on property taxes, which were, related to property values, which were, in turn based on property owner's rental revenue.[8]

References

  1. Ryan Brady (2019-10-24). "A plan to transform LIC’s Anable Basin: Developers aim to create an energetic, 24/7 community on the LIC waterfront". Queen's Chronicle. https://www.qchron.com/editions/queenswide/a-plan-to-transform-lic-s-anable-basin/article_53352fa8-ca0d-5051-ac0a-b46964f04ac9.html. Retrieved 2019-11-14. "Following Amazon’s dropping of its plan to build a complex on the East River around Anable Basin, several area property owners — though not the biggest — are working together at the city’s behest on a new, comprehensive plan to redevelop the Long Island City site. Strong community engagement is promised." 
  2. Shane O’Brien (2019-11-08). "Community Engagement Process on LIC Waterfront to Begin Later This Month". Long Island City Post. https://licpost.com/community-engagement-process-on-lic-waterfront-to-begin-later-this-month. Retrieved 2019-11-14. "The developers will be holding four public workshops over the next few months to gather community feedback about the 28-acre area." 
  3. Mariah Brown (2019-10-30). "Long Island City Landowners Team-Up On Former Amazon Site". Globe Street (New York City). https://www.globest.com/2019/10/30/long-island-city-landowners-team-up-on-former-amazon-site/?slreturn=20191014130658. Retrieved 2019-11-14. "Toward the end of summer, landlords who include real estate firms Simon Baron Development, TF Cornerstone and L&L Mag united for a discussion about developing the site slated for Amazon’s headquarters, and in and around the waterfront, Matthew Baron, president of Simon Baron Development, tells GlobeSt.com." 
  4. Amy Plitt; Caroline Spivack (November 14, 2019). "Developing Long Island City’s waterfront a year after Amazon: Assessing Long Island City’s future a year after Amazon". Curbed NY. https://ny.curbed.com/2019/11/14/20963632/amazon-hq2-new-york-long-island-city. Retrieved 2019-11-14. "That land, controlled by the three developers and longtime Queens manufacturer Plaxall Inc., includes private and city-owned property around the East River and Anable Basin." 
  5. Miriam Hall (2019-07-02). "This Week's N.Y. Deal Sheet New YorkDeal Sheet". Bisnow. https://www.bisnow.com/new-york/news/deal-sheet/this-weeks-ny-deal-sheet-99719. Retrieved 2019-11-14. "Simon Baron Development locked down $240M to refinance its rental at 29-22 Northern Blvd. in Long Island City, known as ALTA LIC. The lenders were Société Générale and Deutsche Pfandbriefbank, according to a release from HKS Real Estate Advisors, which advised Simon Baron. Eastdil Secured arranged the financing for the developer. The building has 467 units, and 14 floors are run by co-living company Ollie." 
  6. Dean Boerner (2019-09-04). "Smaller Apartments Are Doing Big Things For Developers NationalMultifamily September 4,". Bisnow. https://www.bisnow.com/national/news/multifamily/smaller-apartments-are-doing-it-big-100556. Retrieved 2019-11-14. "Based in New York, Baron and fellow Simon Baron Development co-founder Jonathan Simon helped launch Ollie, the operator of the country's largest co-living property. Dubbed ALTA LIC, it has brought co-living and smaller units to Long Island City in the borough of Queens." 
  7. Dean Boerner (2019-09-04). "Smaller Apartments Are Doing Big Things For Developers NationalMultifamily September 4, 2019". Bisnow. https://www.bisnow.com/national/news/multifamily/smaller-apartments-are-doing-it-big-100556. Retrieved 2019-11-15. "To Baron, the site's success is a sign that smaller units are more than a flash-in-the-pan trend — in part because of what Simon Baron Development has found to be a surprisingly broad customer base." 
  8. Nicholas Rizzi (2019-11-01). "Smaller Floor Plates and Flexibility Is Key to Brooklyn Office Market: Panelists". Commercial Observer. https://commercialobserver.com/2019/11/smaller-floor-plates-and-flexibility-is-key-to-brooklyn-office-market-panelists/. Retrieved 2019-11-15. "Matthew Baron, the president of Simon Baron Development which owns residential projects in Long Island City, Queens, worried that since real estate taxes make up about half of the city’s budget each year, the new law might not make them keep up with the city’s needs in the future." 

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