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Pat Simone

Pat Simone - Founder

Born just before the start of the Great Depression, Pat Simone spent many hours during his youth as a helper on his father’s ice delivery truck, and a good bit of the helping involved climbing tenement staircases with a block of ice on his shoulder. In his “spare time” he worked in his own business – polishing shoes with a portable shoebox. His final teenage years were spent in the United States Navy. The creation of a commercial real estate ownership business was not a conscious focus of this returning World War II veteran’s ambitions. But earning a good living was! And having his own business was! The path to today’s Simone Development Company was not direct, nor was it easy. First a truck business. Then a salvage business. And before too long the Simone-owned salvage yard became more valuable as the site for a warehouse. A less-expensive property was found for the salvage yard, and the warehouse was built. Pat Simone had become a builder of commercial property – and a landlord, too! By the mid-70s, a portfolio with more than a few commercial tenants had been developed, and Pat Simone started thinking about a retirement-type lifestyle centered around long boat journeys – this time on his boat, not the Navy’s! Any ideas about retirement quickly receded, however, when he was proudly captivated and re-energized by the ambitions and achievement strategies of his sons: - To start an auto-parts recycling business, but one unlike any that had ever existed; and - To build a real estate development business. Hunts Point Auto Parts became a nationally recognized leader in the industry and was sold to a NASDAQ-listed company some 25-years later. Simone Development Company likewise experienced steady successes, some part of which was propelled by the fact that during the late-1970s and the 1980s very few other investors saw value in properties in such communities as the Bronx and the cities of lower Westchester County. With a steady earnings flow from a flourishing auto parts business and a growing net cash flow from real estate activities, Simone Development added retail and office space holdings to its portfolio of industrial and warehouse properties. Pat Simone is actively involved in all aspects of Simone Development, and he is especially focused on the management of the commercial portfolio and on all construction activities. He has no present thoughts about retiring, nor about heading off on a long boat journey, and he still shines shoes – but only his own!
 The Simone Executive Team

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