Wealth & Finance International - February 2017

Wealth & Finance International 66 The Real Deal in Real Estate imone Development is a full service commercial and resi- dential real estate investment and development company. Principal, Joseph Deglomini Jr, tells us about one of the firm’s greatest successes to date. “Our Hutchinson Metro Center is a 42-acre parcel we developed. It features an office, retail and prime medical space on campus along with a 125 room Marriott Residence Inn. This development really changed the Bronx, NY real estate market. The economic development that has been created here is something we are really proud of.” As a Principal, Joseph gets involved in all aspects of the business on a daily basis, spending most of his time with his leasing, management and finance departments, as well as spending time looking at new deals. He is passionate about the work that he does, and tells us a little bit more about the firm’s ongoing key to success. “We focus on long term relationships - our tenants are our partners,” he enthuses. “I have seen some of our tenants grow from 2000 square feet of space to 50,000 square feet of space. As they grow, we grow. Our tenant relationship programme is very important to us. “I really love what I do. I think any entrepreneur needs to be passionate about their business in order to succeed.” Joseph is also quick to sing the praises of his hard-working, dedicated team who operate behind the scenes, and who are imperative to the firm’s success. “We have really talented real estate professionals in our office. Every department is really important and we all work together well. Commu- nication between departments is key to ensure optimum running of the business.” With regards to the future, Joseph foresees both challenges as well as opportunities. “We do many healthcare developments and the hospitals we deal with are unsure about how the repeal of ObamaCare will play out. I believe it may take six months to a year to figure it out. Maybe longer, unfortu- nately. “Finding new deals is also becoming harder. You really have to be cre- ative. Buying an investment property is not difficult but a development from scratch takes knowledge and experience. You have to plan for the worst.” Company: Simone Development Name: Joseph Deglomini Jr Web Address: www.simdev.com Joseph Deglomini Jr of Simone Development takes us through some of the highlights the firm has seen and gives us his predictions for the future. S 1702WF70