What Simone Development does

Simone Development Companies is a third-generation, family-owned real estate investment and development firm founded approximately 1975 and headquartered in the Bronx, New York. The company acquires, develops, leases, and manages ambulatory healthcare facilities, mixed-use and medical office campuses, retail shopping centers, industrial and flex space, and residential properties across the New York City metropolitan area, Long Island, Westchester County, Orange and Fairfield Counties, and New Jersey. With a portfolio exceeding 7 million square feet across more than 100 properties, the firm serves enterprise healthcare systems (Montefiore Health System, Mount Sinai Health System, Catholic Health, Northwell Health, Westmed/Summit Health, St. John's Riverside, Burke Rehabilitation), national retail anchors (Target, LA Fitness, Krispy Kreme, Kamco Supply), industrial and e-commerce tenants, and residential end users, and is system-neutral in healthcare to avoid conflicts of interest with any single provider.

The firm's core platform is a vertically integrated real estate development engine that performs site selection, acquisition, planning and approvals, financing, design, construction, leasing, and ongoing property management in-house. Notable assets include the 42-acre Hutchinson Metro Center campus in the Bronx (1.4+ million sq ft of Class A office and medical space, 125-room Marriott Residence Inn, 1,100+ parking spaces, 80+ tenants, 8,000+ on-site employees anchored by the 280,000 sq ft Montefiore Ambulatory Care Center), the 300,000 sq ft Throggs Neck Shopping Center (repurposed from a former U.S. Postal Service distribution center, anchored by Target), the 85,000 sq ft Boyce Thompson Center mixed-use property in Yonkers, Purchase Professional Park in Westchester, and the Mount Sinai Doctors multi-specialty building in Greenlawn, Long Island. Recent project deliveries include the 24-story West View Apartments with 186 affordable housing units at 26 Garden Street in New Rochelle (2024), developed in partnership with Stagg Group, and several co-developed Connecticut office and medical assets with Fareri Associates.

Revenue is generated through three principal streams: recurring rental income from a diversified portfolio of healthcare, mixed-use, retail, industrial, and residential assets; one-time proceeds from property development, repositioning, and disposition (notably residential for-sale and land); and professional services revenue from comprehensive healthcare facility development engagements that span site selection through construction management. The firm finances growth through a combination of its own equity and capital markets access (construction and permanent loans, bank and securitized bond funding), which it cites as a basis for best-in-class pricing and execution. Distribution is handled through a direct in-house leasing organization, supplemented by external broker relationships (Colliers, DY Realty) and an available-spaces portal covering six sub-markets, with awareness supported by the corporate website, LinkedIn, Facebook, and earned media in regional business publications such as Crain's New York and the New York Business Journal.

Name

Simone Development

Legal name

Simone Management Group Inc.

Website

https://simonedevelopment.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Simone Development Companies is a third-generation, family-owned real estate investment firm that acquires, develops, leases, and manages healthcare, mixed-use, retail, industrial, and residential properties across the New York metropolitan tri-state area from a 7-million-square-foot, 100-plus-property portfolio.

Ownership category

akta.pro rank

Headquarters

HQ city

Bronx

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Commercial Property Rental Income: Long-term rental income from leasing healthcare facilities, mixed-use properties, retail centers, industrial/flex space, and residential properties. Properties include medical office buildings, ambulatory healthcare facilities, retail shopping centers, warehouse/distribution facilities, and residential units.
2. Property Development and Disposition: Development and sale of residential properties including luxury single-family homes and multi-family developments. Past projects include Stone Manor at Twin Lakes in Bedford, NY and luxury high-rise condominiums in Long Island City.
3. Healthcare Development Services: Comprehensive healthcare facility development services including site selection, financing, architecture/engineering management, and construction management for outpatient healthcare facilities, ambulatory surgery centers, medical offices, and urgent care facilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Simone Development Companies is a privately owned, full-service real estate investment company that acquires, develops, and manages commercial real estate across the New York tri-state area. The company operates five core service lines: healthcare facility development (ambulatory care, medical offices, urgent care), mixed-use developments combining medical/office/retail, retail shopping centers, industrial/flex warehouse space, and residential properties. Its portfolio exceeds 7 million square feet across more than 100 properties.

Product overview

Simone Development Companies is a third-generation family-owned real estate investment and development company with a portfolio exceeding 7 million square feet across more than 100 properties. The company operates through five core service offerings: Healthcare Development (specializing in ambulatory healthcare facilities with full lifecycle services from site selection to property management), Mixed-Use Development (combining medical offices with retail and Class A office space), Retail Development (service-oriented shopping centers), Industrial Development (warehouse/distribution for e-commerce and last-mile delivery), and Residential Development (luxury homes and multi-family projects). Key properties include the 42-acre Hutchinson Metro Center complex in the Bronx (with Montefiore Ambulatory Care Center, Atrium, and Marriott Residence Inn), Purchase Professional Park in Westchester, Boyce Thompson Center in Yonkers, Catholic Health Ambulatory & Urgent Care in Centereach, and various industrial/flex properties. The company focuses on the New York metropolitan area and tri-state region including New York City, Long Island, Westchester County, Connecticut, and New Jersey.

Differentiator

Problem solved

Functional benefit

Products and services

• Healthcare Development Full-service development of ambulatory healthcare facilities for hospital systems and medical practices, covering site selection, acquisition, planning, financing, design, construction, leasing, and ongoing property management. Targets outpatient facilities such as medical office buildings, ambulatory surgery centers, urgent care centers, and multi-specialty practices.
• Mixed-Use Development Development of properties that combine medical offices with retail and Class A office space within single integrated campuses. Flagship examples include Hutchinson Metro Center and Boyce Thompson Center.
• Retail Development Development of service-oriented shopping centers that combine retail tenants with outpatient medical facilities in high-traffic locations across the Bronx, Queens, Westchester, Long Island, and Connecticut.
• Industrial Development

Quantifiable outcome

• 100+ properties developed and managed across the tri-state area
• +2 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Fareri Associates, LPcoreStrategic or Co-development PartnerGreenwich-based real estate investment and development firm. Co-development partner with Simone Development on One Sound Shore Drive (Class A office building in Greenwich, CT), 644 West Putnam Avenue (mixed-use building in Greenwich, CT with CVS and Westmed), and Purchase Professional Park expansion (additional 46,000 sq ft office building at 3050 Westchester Avenue).
• Stagg GroupcoreStrategic or Co-development PartnerPartner in the 26 Garden Street mixed-use development in New Rochelle, NY. Simone Development Companies in partnership with Stagg Group created the six-story building (completed summer 2021) housing Westchester Family Court and West View Apartments (24-story, 208,000 sq ft tower with 186 affordable housing units completed in 2024).
• DY RealtyminorChannel Partner/ Reseller/ DistributorMathew Diana of DY Realty represented Simone Development in the QSAC lease transaction at 1200 Zerega Avenue. External broker support for in-house leasing team.
• ColliersminorChannel Partner/ Reseller/ DistributorJosh Kleinberg of Colliers represented Quality Services for the Autism Community (QSAC) in the lease transaction at 1200 Zerega Avenue. External tenant representation broker.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RXR Realty: Tri-state focused mixed-use, office, and residential real estate developer and owner. Most comparable to Simone given overlapping NY metro footprint, mixed-use development expertise, and family/privately-held ownership profile.
• The Witkoff Group: Privately held NYC-based real estate developer active in office, hospitality, residential, and mixed-use. Comparable as a New York metro-focused, vertically integrated family-owned developer pursuing similar asset class diversification.
• Related Companies: Major NYC mixed-use, affordable housing, and commercial developer. Comparable to Simone on mixed-use expertise, affordable housing execution (e.g., 186-unit West View Apartments), and tri-state market focus.
• Hammes Partners: Healthcare-focused real estate development and advisory firm. Directly comparable to Simone's Healthcare Development practice given shared focus on ambulatory facilities, MOBs, and system-neutral healthcare real estate strategy.
• NexCore Group: Healthcare real estate developer specializing in MOBs, ambulatory care, and outpatient facilities. Comparable to Simone's healthcare niche given similar build-to-suit and acquisition model for medical office product.

Broad incumbents

• Vornado Realty Trust: Public NYC-focused office and retail REIT. Comparable as a major NYC office/retail owner-operator in the same geography, though at much larger scale and with a public REIT capital structure.
• Tishman Speyer: Global real estate developer and owner with significant NYC presence in office, residential, and mixed-use. Comparable given overlapping product types and tri-state footprint, but operates at substantially larger scale globally.
• Healthcare Realty Trust: Publicly traded MOB-focused REIT with national outpatient medical office portfolio. Comparable to Simone's medical office business line and healthcare tenant base, but operates as a capital-light landlord rather than vertically integrated developer.
• SL Green Realty: Largest NYC-focused office landlord. Comparable on NYC office/mixed-use exposure and Manhattan submarket presence, but operates exclusively as a public office REIT.
• Brookfield Properties: Major global real estate owner-operator with large NYC office and mixed-use portfolio. Comparable on Manhattan office and large-scale mixed-use development, though at significantly larger scale and with institutional capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SimoneDevelopmentCompanies
• LinkedInlinkedin.com/company/simone-development-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Simone Development