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Mattone’s Touch Felt Across Queens

The Mattone Group operates out of the Waldbaum’s shopping center in College Point. Tribune Photo By Lee Landor

By Lee Landor

At 75 years old, Joseph M. Mattone, Sr. is looking forward to the growth and success of the developing company he started in 1956, Mattone Group, LLC, as it continues investing in, buying and developing property all over New York City and the rest of the country.

Currently managing 1.6 million square feet of prime property all over the country with his sons, Joe Jr., Carl and Michael, Mattone said he feels he is contributing to the economy and to local communities. He said he feels especially close to Queens and its budding markets, frequently mentioning the single largest private investment ever made to Jamaica by his company, Jamaica Center Site One – home the Jamaica Multiplex Theatre.

A Vibrant Career

During his nearly 50 years of constructing and developing residential and commercial space, Mattone vividly recalls projects he considers milestones in his career and his life, as well as for his company – Jamaica Center included. From the start of his developing career, which began in 1956 after he served as a lawyer for a developing company, Mattone embarked on a large venture. In 1963, in a joint project, Mattone developed the Harway Terrace in Brooklyn, two 19-story buildings with 150 units each.

After completing the job, Mattone said he learned how to apply himself and deal with challenges, something he said he relearns after each of his projects. Through years of hard work, risk-taking and rewarding success, Mattone honed his assessment skills, risk-taking abilities and critical judgment. But, he said, with each endeavor he gains an education of different facets of development.

One important lesson Mattone learned about the developing business has helped him wade through paperwork and city offices with determination. Keeping in mind that the “key ingredients to this business are patience and perseverance,” Mattone said he has effectively accomplished his goals.

Making Big Deals

The Mattone Group completed the first major shopping facility in Springfield Gardens in Queens in March 2000 at a cost of $28 million. It was well worth it, said Mattone, as the Pathmark facility has been credited with achieving the “highest minority income” in Southeast Queens. According to Mattone, the contribution of the group’s investment in the community, while chancy, was beneficial.

amaica Center has spurred growth in Southeast Queens.

Similarly, the project in Jamaica was a test of Mattone’s risk-taking capability. The $80 million, 460,000-square-foot development was finalized in 2003, creating between 500 and 600 jobs and generating millions of dollars in direct and indirect tax revenue. Bringing hundreds of visitors and shoppers into the area has boosted the economy in Southeast Queens, said Mattone, which is a great assistance to the community.

The Mattone Group is approaching completion of an 11-acre, seven-year-long development in Whitestone, an exciting thought for Mattone. After enduring months of city approval processes and various bureaucratic delays, Waterside Estates at Cresthaven is awaiting finalization. Mattone called the 110 single-family homes “upscale,” as they cost between $500,000 and $2 million. An additional five homes, which occupy about 25,000 feet, are in the process of construction.

All About Jobs

Mattone is sticking by his credo that job creation is the greatest contribution he can make, because it has direct and indirect benefits for a community and is therefore a critical necessity. His company has spent millions developing communities and providing new jobs, new businesses and growing markets.

“Investing money helps elevate a community and make it self-sustaining,” Mattone said. But, this insight is not specific to Mattone, as proved by the transformation occurring throughout Queens, where new structures and establishments are being erected and utilized.

A Bright Future

Mattone’s company is currently managing the creation of a Home Depot in Jamaica, which is expected to generate 300 jobs by the end of 2007. The 105,000 square-foot structure, on which construction began two years ago, will have rooftop parking and, Mattone said, will replace “the eyesore” that previously sat in that space. According to Mattone, beautifying a community is an essential part of creating a successful, profitable environment.

The Pathmark facility in Springfield Gardens has been extremely successful. Tribune Photo By Ira Cohen

The 50 years Mattone has spent scheming, planning, investing and assessing have been adventuresome, he said. He has experienced growth and progress and expects to continue doing so for as long as he can. Mattone said he and his company are proud of helping communities grow and taking part in the development of Queens, physically and economically. Being a recognized developer has been an important part of Mattone’s life, one from which he can now barely separate himself.

His company is presently negotiating all over the five boroughs and in New Jersey, trying to capture what Mattone calls “reasonably priced” opportunities. With international companies and fast food chains on their list of projects, the Mattone Group is involved with “major players,” and owns real estate in several states, including Connecticut, Georgia, Florida and Ohio. The company plans to continue expanding its borders all over the country.