HOME RUN – Rinaldi Group Project Part of a Multi-Phase Myrtle Avenue Master Plan

From Industry Magazine:

Once one of the hottest high school baseball prospects in the nation, Anthony Rinaldi chose real estate instead, and his latest project in fort Greene is just one part of a multi-phase Myrtle Avenue master plan.

by Alice Forstead

The Rinaldi Group Myrtle aveEvery life has its arrangement of defining moments… its “Which door should I choose?” conundrums, but for students of city real estate generally, and Brooklyn’s market specifically, the one faced by Anthony Rinaldi in the mid ’80s was more than a little bit unique. Born in Elizabeth, New Jersey and the son of a 33-year veteran of the Hoboken Police Department, Rinaldi was educated in the Secaucus Public Schools system, where he was quickly spotted as a more than capable athlete. In fact one of the most promising catchers in all of high school baseball, he was given the opportunity to tryout with the Cleveland Indians, Los Angeles Dodgers, and California Angels, but instead chose higher education and an engineering degree over a career in professional sports.

After more than a decade in and around city realty businesses, Rinaldi hung out his own shingle in 2003 under the name Anthony T. Rinaldi, LLC., d.b.a. The Rinaldi Group. The general contracting and construction management firm has since been responsible for the development and construction of high-rise condominium and rental towers and hotels in Arizona, New Jersey, Florida, New York City, and Westchester, and has been witness to and participant in one of the most stunning real estate valuation increases in the nation’s history. With projects like the boutique Hilton Garden Inn on E. 33rd Street, 570 Lexington Avenue, and the Garden State Plaza Mall under its belt, along with Brooklyn projects 220 Water Street and 218 Myrtle Avenue (the former reported on in the feature “The Shoe Fits” in the July/August 2013 issue) Rinaldi has focused considerable attention on the borough’s widely expanding fortunes, most recently in the form of a multiple phase Myrtle Avenue development in Fort Greene, capped by this recently-completed 15-story tower, referred to as both 81 Fleet Place and The Giovanni.

In partnership with Red Apple Real Estate, the rental tower, designed by Dattner Architects, consists of two stories of below-grade parking, two more floors of retail space, and 13 stories of luxury residential units. Encompassing some 260,000 square feet, the project was completed in late 2014, features 205 apartments, and is currently valued at just over $57 million. Siting, as always, was a key consideration—a short walk to the Barclays Center and BAM, and just around the corner from Fulton Mall.

“It has been an honor and professional privilege to build for and work with [real estate developer and 2013 Republican mayoral candidate] John Catsimatidis and Red Apple Real Estate on their mission to rebuild and revitalize Brooklyn,” Rinaldi offered at the ribbon-cutting, and it was clear from the time the first rental contracts were signed that the project included a tier of amenities new to a once-distressed eastern edge of Downtown. Its units run from $2,500 per month for a studio to $4,400 for a 907-square-foot two-bedroom (though the priciest available unit at time of press is a $4,975 919-square-foot one-bedroom).

For this healthy price of admission, renters have access to a 24-hour concierge, an indoor parking garage, secured bike storage, a garden manicured roof deck, residence lounge, media room, game room, and fitness center that features a private gym with Cyber cardio equipment and a yoga/aerobics studio. Individual unit amenities vary slightly according to size and layout, but all feature oversized windows, Caesar Stone kitchen countertops and glass-tiled backsplashes, stainless steel GE Profile and Frigidaire appliances, Casals Grande Titan Martian flooring in kitchen and bath, a stacked Bosch washer and dryer, climate control, and maple strip wood flooring throughout. Private terraces and outdoor spaces are available, too, depending upon unit number.

Read more from Industry Magazine…

 

Industry Mag on The Rinaldi Group – “The Maverick”

From Industry Magazine:

Could a city grown accustomed to century-old methods of construction think anew? One developer bet yes, and the results are stunning

By Jessica Jones-Gorman • Photos by Amessé Photography
In 2003, after years of working for some of the city’s top construction firms, Anthony Rinaldi took a risk and opened a non-union based building group in the traditionally union-heavy New York City construction landscape.

“In the early 2000s, I started to see a change in the dynamics of the city” Rinaldi said. “I started to see a desire for developers to go non-union. And as a new company, competing for work with major construction companies with long histories, I knew I had to do something that made my company unique.”

So, Rinaldi, with a degree in Mechanical Engineering from Lehigh University, and with years of experience and technical expertise, took on a sort of David and Goliath battle with some of the city’s construction giants.

“I knew if we could combine the sophistication, technical know-how, and experience of a major union construction management firm in a non-union setting, we’d have success,” he said. “We could provide the owner with a price that was 20 to 30 percent less, which is huge for developers who are paying far too much for their dirt. There has to be relief somewhere, and where we find it is in the cost of construction. I was offering a product that separated us from the rest.”

But historically, this is the largest Union City in the country, where a great many jobs and wages have been union controlled since the 1800s. However, in recent years, things started to change, Rinaldi said, and he felt it was time to modify how some of the city’s major construction projects were managed.

“I think there was a time in this country when labor was abused and unions had a function. They were necessary to protect the worker, but the pendulum has swung and unions went from necessary to almost abusive,” Rinaldi explained.

There were a number of jurisdictional disputes, Rinaldi claimed, which often stopped work and put both contractor and developer at risk financially.

“It was a mentality in the construction world that just got worse and worse,” Rinaldi said. “I’m trying to produce the best work for my client, but am unable to do so because of so much conflict and battle for control. I simply decided that I would not let anyone else control my business but me.”

The transition wasn’t exactly simple for Rinaldi. He was raised union—his father was a Hoboken police captain and his father-in-law a laborer with Local 79, both men of union backgrounds. And after earning his degree from Lehigh, Rinaldi worked for both George A. Fuller and HRH Construction, two of the city’s major union-based construction management firms.

And the developers he was courting had reservations, too. But when a number of fully licensed and insured non-union crane companies started cropping up, Rinaldi says many union guys started to convert.

He opened his Secaucus-based company, The Rinaldi Group, and secured a first big break in 2005 when a former colleague reached out for assistance on a $500 million project in White Plains.

“We worked hand in hand to build the Ritz Carlton Hotel and the two adjacent 47-story condominium towers,” Rinaldi recalled.

That led to another major project funded by John Catsimatidis’ Red Apple Group in 2008.

“Catsimatidis owns a lot of real estate and a variety of businesses, but this was his first development project,” Rinaldi said.

It was a massive undertaking, consisting of two city blocks in downtown Brooklyn: one area reserved for a 40-story high-end condominium tower, the other for a mid-rise affordable housing project. That year the financial industry collapsed, however, so Catsimatidis reorganized the project, breaking it down into four smaller phases.

The mid-rise buildings were built smack in the middle of a then-trending neighborhood—in the shadow of the Manhattan Bridge, not far from the Barclays Center and all of its booming commerce.

“Catsimatidis gave us a real big shot,” Rinaldi said.

Other Brooklyn jobs followed. One on Nassau Street (also at the foot of the Manhattan Bridge), another on Water Street (the latter named multifamily residential project of the year by the Brooklyn Chamber of Commerce).

“That project was a 200,000-squarefoot conversion of a landmark shoe factory,” Rinaldi said. “We turned it into 135 luxury high-end loft rental units and the work had to be coordinated with the Landmarks Preservation Commission and other local and state agencies. It really was a wonderful transformation.” It also served as proof that Rinaldi had carved a niche in this city for his brand of building.

“There are only a handful of companies like ours in this city, but I think our willingness to go the distance for our clients really separates us from the competition,” he said. “We do a number of things relative to cost that our competition does not do. Plus we provide a level of trust that has given our name a very good reputation in this industry.”

For Rinaldi and his staff, that translates into consistent growth. The group is currently working on a hotel, theater, and mixed-use space in Harlem which will break ground in 2015, while an ultra-high-end condominium conversion in Manhattan is slated for a 2017 completion.

The Rinaldi Group currently maintains a book of business in excess of $400 million, and was recently recognized by Inc. magazine as one of the fastest growing companies in America.

“It’s been an action-packed ten years,” Rinaldi said. “It took a lot of hard work and dedication, and we’ve certainly paid our dues to be here, but I feel very blessed and thankful to be in this position.”

Read more from Industry Magazine…

Rinaldi Group Cited as 129th Largest Privately Held Company in NYC Area

The Rinaldi Group (TRG), one of the fastest growing companies in the New York Metropolitan area has now been cited by Crain’s as the 129th largest privately held business in New York.


the rinaldi group 580

The Rinaldi Group (TRG), one of the fastest growing companies in the New York Metropolitan area has now been cited by Crain’s as the 129th largest privately held business in New York. TRG is a full service licensed general contractor and construction management firm that, as a result of its  efficiency, quality, professionalism and safety, has grown into  a financially strong business with unlimited capabilities in an industry today that is more competitive than it has even been before. http://rinaldinyc.com/about-us/

TRG employs a diverse work force of thousands of well trained and safety conscious professionals that has grown substantially in a little over 12 years. Given this fast track to success, it is no surprise that TRG has joined the ranks of billionaire John Catsimatidis and The Red Apple Group…and others like Hearst…Trump…Bloomberg…Goya Foods…Modell’s Sporting Goods…and Sam Ash Music…and construction companies like Hunter Roberts, Tully, Structuretone, Barr & Barr, Plaza, J. Fletcher Creamer, Langan Engineering, Ibex, Schimenti and Cava-recognized for its success and unparalleled growth.

TRG’s technical and design diversity reaches all branches construction, from design-build and core-&-shell to interior fit-out, renovation and rehabilitation, the firm’s abilities are endless. Whether a project is a residential high-rise condominium or a mid-rise hotel; whether it is a commercial office building or a health-care facility; whether it is a school, college or athletic facility or a theater, restaurant or library; and whether it is a public municipal building and court-house or it is a financial data hub, entertainment complex or retail center-the list of what the TRG can do, and do in the most cost effective way, is literally endless.

Success, however, doesn’t only bring accolades-it creates jealousy and resentment. As one of the largest and fastest growing merit-based contractors, TRG has a target on its back because regressive forces are looking to find any way they can to diminish all that the firm has accomplished in little over a decade.

We are here to let everyone know that we will not take the attacks lying down-because to threaten TRG is to threaten not only a successful business, but also the livelihoods of thousands of mostly minority workers who have been given tremendous opportunity to become part of the American Dream because of TRG’s rapid growth. We have no need to apologize for our success and we will do all within our power to preserve the competition in construction that is vital to economic growth and prosperity.

America is known as a land of opportunity. We at TRG are grateful that we have been fortunate enough to compete successfully and help to create hundreds of diverse facilities that the public uses and enjoys today.

It is this vibrant and unique environment that is under siege by forces that want to turn back the clock to a time when their own protection racket stymied competition and thwarted the growth the provides the jobs that drives this great economy. With all of our own effort, and the support of scores of other like minded contractors, we are prepared to do battle to preserve and promote competition in one of the foremost job-creating industries in New York and New Jersey.

HOME RUN – Anthony Rinaldi Project Part of a Multi-Phase Myrtle Avenue Master Plan

Once one of the hottest high school baseball prospects in the nation, Anthony Rinaldi chose real estate instead, and his latest project in fort Greene is just one part of a multi-phase myrtle avenue master plan.

From Industry Magazine:

Once one of the hottest high school baseball prospects in the nation, Anthony Rinaldi chose real estate instead, and his latest project in fort Greene is just one part of a multi-phase Myrtle Avenue master plan.

by Alice Forstead

Anthony Rinaldi Myrtle Ave. ProjectEvery life has its arrangement of defining moments… its “Which door should I choose?” conundrums, but for students of city real estate generally, and Brooklyn’s market specifically, the one faced by Anthony Rinaldi in the mid ’80s was more than a little bit unique. Born in Elizabeth, New Jersey and the son of a 33-year veteran of the Hoboken Police Department, Rinaldi was educated in the Secaucus Public Schools system, where he was quickly spotted as a more than capable athlete. In fact one of the most promising catchers in all of high school baseball, he was given the opportunity to tryout with the Cleveland Indians, Los Angeles Dodgers, and California Angels, but instead chose higher education and an engineering degree over a career in professional sports.

After more than a decade in and around city realty businesses, Rinaldi hung out his own shingle in 2003 under the name Anthony T. Rinaldi, LLC., d.b.a. The Rinaldi Group. The general contracting and construction management firm has since been responsible for the development and construction of high-rise condominium and rental towers and hotels in Arizona, New Jersey, Florida, New York City, and Westchester, and has been witness to and participant in one of the most stunning real estate valuation increases in the nation’s history. With projects like the boutique Hilton Garden Inn on E. 33rd Street, 570 Lexington Avenue, and the Garden State Plaza Mall under its belt, along with Brooklyn projects 220 Water Street and 218 Myrtle Avenue (the former reported on in the feature “The Shoe Fits” in the July/August 2013 issue) Rinaldi has focused considerable attention on the borough’s widely expanding fortunes, most recently in the form of a multiple phase Myrtle Avenue development in Fort Greene, capped by this recently-completed 15-story tower, referred to as both 81 Fleet Place and The Giovanni.

In partnership with Red Apple Real Estate, the rental tower, designed by Dattner Architects, consists of two stories of below-grade parking, two more floors of retail space, and 13 stories of luxury residential units. Encompassing some 260,000 square feet, the project was completed in late 2014, features 205 apartments, and is currently valued at just over $57 million. Siting, as always, was a key consideration—a short walk to the Barclays Center and BAM, and just around the corner from Fulton Mall.

“It has been an honor and professional privilege to build for and work with [real estate developer and 2013 Republican mayoral candidate] John Catsimatidis and Red Apple Real Estate on their mission to rebuild and revitalize Brooklyn,” Rinaldi offered at the ribbon-cutting, and it was clear from the time the first rental contracts were signed that the project included a tier of amenities new to a once-distressed eastern edge of Downtown. Its units run from $2,500 per month for a studio to $4,400 for a 907-square-foot two-bedroom (though the priciest available unit at time of press is a $4,975 919-square-foot one-bedroom).

For this healthy price of admission, renters have access to a 24-hour concierge, an indoor parking garage, secured bike storage, a garden manicured roof deck, residence lounge, media room, game room, and fitness center that features a private gym with Cyber cardio equipment and a yoga/aerobics studio. Individual unit amenities vary slightly according to size and layout, but all feature oversized windows, Caesar Stone kitchen countertops and glass-tiled backsplashes, stainless steel GE Profile and Frigidaire appliances, Casals Grande Titan Martian flooring in kitchen and bath, a stacked Bosch washer and dryer, climate control, and maple strip wood flooring throughout. Private terraces and outdoor spaces are available, too, depending upon unit number.

Read more from Industry Magazine…

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INDUSTRY MAG: The Maverick

From Industry Magazine:

Could a city grown accustomed to century-old methods of construction think anew? One developer bet yes, and the results are stunning

By Jessica Jones-Gorman • Photos by Amessé Photography
In 2003, after years of working for some of the city’s top construction firms, Anthony Rinaldi took a risk and opened a non-union based building group in the traditionally union-heavy New York City construction landscape.

“In the early 2000s, I started to see a change in the dynamics of the city” Rinaldi said. “I started to see a desire for developers to go non-union. And as a new company, competing for work with major construction companies with long histories, I knew I had to do something that made my company unique.”

So, Rinaldi, with a degree in Mechanical Engineering from Lehigh University, and with years of experience and technical expertise, took on a sort of David and Goliath battle with some of the city’s construction giants.

“I knew if we could combine the sophistication, technical know-how, and experience of a major union construction management firm in a non-union setting, we’d have success,” he said. “We could provide the owner with a price that was 20 to 30 percent less, which is huge for developers who are paying far too much for their dirt. There has to be relief somewhere, and where we find it is in the cost of construction. I was offering a product that separated us from the rest.”

But historically, this is the largest Union City in the country, where a great many jobs and wages have been union controlled since the 1800s. However, in recent years, things started to change, Rinaldi said, and he felt it was time to modify how some of the city’s major construction projects were managed.

“I think there was a time in this country when labor was abused and unions had a function. They were necessary to protect the worker, but the pendulum has swung and unions went from necessary to almost abusive,” Rinaldi explained.

There were a number of jurisdictional disputes, Rinaldi claimed, which often stopped work and put both contractor and developer at risk financially.

“It was a mentality in the construction world that just got worse and worse,” Rinaldi said. “I’m trying to produce the best work for my client, but am unable to do so because of so much conflict and battle for control. I simply decided that I would not let anyone else control my business but me.”

The transition wasn’t exactly simple for Rinaldi. He was raised union—his father was a Hoboken police captain and his father-in-law a laborer with Local 79, both men of union backgrounds. And after earning his degree from Lehigh, Rinaldi worked for both George A. Fuller and HRH Construction, two of the city’s major union-based construction management firms.

And the developers he was courting had reservations, too. But when a number of fully licensed and insured non-union crane companies started cropping up, Rinaldi says many union guys started to convert.

He opened his Secaucus-based company, The Rinaldi Group, and secured a first big break in 2005 when a former colleague reached out for assistance on a $500 million project in White Plains.

“We worked hand in hand to build the Ritz Carlton Hotel and the two adjacent 47-story condominium towers,” Rinaldi recalled.

That led to another major project funded by John Catsimatidis’ Red Apple Group in 2008.

“Catsimatidis owns a lot of real estate and a variety of businesses, but this was his first development project,” Rinaldi said.

It was a massive undertaking, consisting of two city blocks in downtown Brooklyn: one area reserved for a 40-story high-end condominium tower, the other for a mid-rise affordable housing project. That year the financial industry collapsed, however, so Catsimatidis reorganized the project, breaking it down into four smaller phases.

The mid-rise buildings were built smack in the middle of a then-trending neighborhood—in the shadow of the Manhattan Bridge, not far from the Barclays Center and all of its booming commerce.

“Catsimatidis gave us a real big shot,” Rinaldi said.

Other Brooklyn jobs followed. One on Nassau Street (also at the foot of the Manhattan Bridge), another on Water Street (the latter named multifamily residential project of the year by the Brooklyn Chamber of Commerce).

“That project was a 200,000-squarefoot conversion of a landmark shoe factory,” Rinaldi said. “We turned it into 135 luxury high-end loft rental units and the work had to be coordinated with the Landmarks Preservation Commission and other local and state agencies. It really was a wonderful transformation.” It also served as proof that Rinaldi had carved a niche in this city for his brand of building.

“There are only a handful of companies like ours in this city, but I think our willingness to go the distance for our clients really separates us from the competition,” he said. “We do a number of things relative to cost that our competition does not do. Plus we provide a level of trust that has given our name a very good reputation in this industry.”

For Rinaldi and his staff, that translates into consistent growth. The group is currently working on a hotel, theater, and mixed-use space in Harlem which will break ground in 2015, while an ultra-high-end condominium conversion in Manhattan is slated for a 2017 completion.

The Rinaldi Group currently maintains a book of business in excess of $400 million, and was recently recognized by Inc. magazine as one of the fastest growing companies in America.

“It’s been an action-packed ten years,” Rinaldi said. “It took a lot of hard work and dedication, and we’ve certainly paid our dues to be here, but I feel very blessed and thankful to be in this position.”

Read more from Industry Magazine…

Firms on the fast track

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Firms on the fast track. The Rinaldi Group listed third of the top 10 North Jersey companies on Inc. 5000 list of fastest-growing companies.
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81 Fleet Topping Out Party – 2014-05-16

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PRESS RELEASE: “TOPPING OUT” 81 Fleet Pl.

ANTHONY T. RINALDI, PRESIDENT OF THE RINALDI GROUP LLC IS PROUD TO ANNOUNCE THE “TOPPING OUT” OF THEIR MOST RECENT LARGE SCALE PROJECT, ON BEHALF OF JOHN CATSIMATIDIS AND RED APPLE REAL ESTATE. THE NEWEST PROJECT, LOCATED AT 81 FLEET PLACE, BROOKLYN IS 15 STORY, 260,000 SQ. FT. RESIDENTIAL AND COMMERCIAL BUILDING TO BE COMPLETED IN LATE 2014. THE PROPERTY CONTAINS 205 RENTAL APARTMENTS, 11,676 SQ.FT. OF RETAIL SPACE AND 150 PARKING SPACES. 81 FLEET PLACE IS THE SECOND OF FOUR PLANNED RED APPLE DEVELOPMENTS ON MYRTLE AVENUE. TO CELEBRATE THIS MILESTONE, PLEASE JOIN US FOR A “TOPPING OUT PARTY / PRESS EVENT”: 81 FLEET PLACE, BROOKLYN
(ON MYRTLE AVE. BETWEEN FLEET PLACE AND ASHLAND PLACE)
FRIDAY, MAY 16, 2014
12:00 NOON – 2:00 PM (LIGHT LUNCH SERVED)
1:00 PM – PRESS REMARKS “IT HAS BEEN AN HONOR AND DISTINCT PROFESSIONAL PRIVILEGE TO BUILD FOR AND WORK WITH JOHN CATSIMATIDIS AND RED APPLE REAL ESTATE ON THEIR MISSION TO REBUILD AND REVITALIZE BROOKLYN”. – ANTHONY RINALDI, PRESIDENT, THE RINALDI GROUP, LLC (TRG). THE RINALDI GROUP, LLC IS ONE OF THE CITY’S FASTEST GROWING PREEMINENT BUILDERS OF LARGE SCALE PROJECTS ACROSS NEW YORK CITY WITH PROJECTS SUCH AS THE HILTON GARDEN INN AT 45 E. 33RD STREET BETWEEN MADISON & PARK AVENUES; THE FAIRFIELD INN HOTEL BY MARRIOTT IN DOWNTOWN MANHATTAN AT 30 FLETCHER ST., AND THE RIU TIMES SQUARE AT W. 46TH ST., & EIGHTH AVE., AND IN SURROUNDING AREAS LIKE BROOKLYN WITH PROJECTS LIKE THE 220 WATER ST. IN DUMBO, THE MULTI-FAMILY RESIDENTIAL PROJECT OF THE YEAR FOR 2012 AS AWARDED BY THE BROOKLYN CHAMBER OF COMMERCE.

The Rinaldi Group Tops Out 30 Fletcher Street Project

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November 2013
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