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Deals & Dealmakers

For Simone Development’s Deglomini, every project offers exciting challenges

Joseph Deglomini, Jr. is a principal of Simone Development, a full-service real estate investment company specializing in the acquisition and development of medical, office, retail, industrial and residential properties in the New York tri-state area.

Deglomini has been investing in New York real estate for nearly 20 years and the Simone Development team currently has over three million square feet of new space in various stages of planning, construction, leasing and delivery to the market.

The privately held company owns and manages more than 5 million square feet of property in the Bronx, Westchester County, Queens, Long Island and Connecticut.  The company’s portfolio includes more than 100 properties and ranges from multi-building office parks to retail and industrial space.

“I guess you could say that development has always been in my blood,” says Deglomini.

“Ever since I was a child, from Lego sets to tree houses to working as a helper for my father’s mechanical contracting company in Manhattan throughout high school, I always had a fascination with how things got built.

“I was fortunate to have the opportunity to work on buildings at a young age for such quality developers as Glenwood, Rockrose and the Brodsky Organization. It was the most amazing feeling to watch these masterpieces constructed from the ground up.”

Prior to becoming a principal of Simone Development, Deglomini was a partner of Tower Properties Co., a prominent commercial real estate development and management firm in the Bronx. Joe began his real estate career as an intern and after college working as a tenant rep leasing associate at Studley, a top national commercial real estate services firm headquartered in Manhattan.

“Doing tenant representation gave me important insight and knowledge of what most tenants are looking for when searching for space,” he says.

“It was tremendously helpful to view the leasing process from the tenant’s side of the table before moving into commercial real estate development and working on the landlord’s side. That experience was very valuable to me.”

In reviewing his career to date, Deglomini says that almost every deal has been a memorable experience to him.

“The beauty of the real estate business is that each deal is different. It is constantly exciting and new from one deal and development to another, but if I had to pick a highlight as the most exciting thus far, it would have to be our Hutchinson Metro Center Complex in the Bronx.”

The Hutchinson Metro Center is a 42-acre suburban-style campus offering the Class A office space and a host of first-class amenities never before offered in the Bronx market.

The company recently acquired an additional 33-acre site adjacent to the Hutchinson Metro center that will allow them to eventually more than double the size of the complex to more than three million sqwuare feet of office, retail, medical, educational and hospitality space.

A recent addition to the Hutchinson Metro Center is the Hutch Metro Atrium, a 370,000-square-foot office/retail/hotel complex that includes the borough’s first Marriott Hotel, operating under the Residence Inn brand, Applebee’s, GNC and a 43,000 square-foot LA Fitness center.

Montefiore Medical Center has also leased a new 12-story, 280,000 square-foot multi-specialty care center developed by Simone Healthcare Development at the Hutchinson Metro Center that offers New Yorkers the latest in ambulatory medicine.

Montefiore’s new campus is one of the largest ambulatory surgery centers in the New York metropolitan region.

The building was specifically designed to provide a healing environment and give patients a better experience, offering an array of services in one, convenient location: primary and specialty care visits, diagnostic imaging, surgery, and even a full-service pharmacy.

The campus’s layout provides space for interdisciplinary approaches to care – with teams of doctors and nurses located on the same floor, allowing for stronger, easier collaborations and referrals.

In addition to Deglomini’s career in real estate development, he has a long track record of service to the community. He is a member of the Board of Directors of the Bronx Chamber of Commerce since 2008. Joseph Deglomini also sits on the board of the Westchester Square District Management Association and the Board of Directors of the Bronx Council Boy Scouts of America.

A native of Nyack, NY, Deglomini holds a Bachelor Degree in Business Management from Lynn University.

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