In 1922, Sidney and Irving Benerofe started the Port Chester Lighting Fixture Company that transformed into Port Chester Electrical Construction Corp. and then into Benerofe Properties Corp., the real estate and private equity investment company of today. This evolution has been a true American success story.
Some of the better-known work of Port Chester Electrical Construction included Camp Smith (U.S. Army), General Foods' Headquarters in White Plains, IBM World Trade Headquarters and Indian Point Nuclear Power Plant.
During the 1940's, 50s and 60s, in addition to electrical contracting, the company acquired residential, undeveloped, commercial and office properties. Florida became an important focus for residential building in the 1950's with the company even developing a private utility firm. Investment activities broadened in scope to include securities, venture capital transactions, real estate development and mortgage lending.
In the mid 1950's, Sidney Benerofe's three sons, Andrew, James and Mitchell, began working for their Dad during summers in the electrical contracting warehouse. In 1961, Jimmy joined the firm and worked in property management. In 1964, Andy joined the firmed and Mitch followed in 1970, as the business continued its expansion.
In the early 1960's, Benerofe Properties built Kingsley House, a Mitchell Lama senior housing project in White Plains, NY. Shortly thereafter, the city of Tuckahoe chose Benerofe Properties as its Urban Renewal developer. This resourceful downtown project also included the construction of Marble Hall, a mid-rise apartment building.
The 1970's and 1980's were both transitional and exciting for the firm. After the death of Sidney Benerofe, Andrew and Mitchell refined operations and implemented the first urban renewal project in the city of White Plains, a retail mall. More properties were purchased in White Plains and additional shopping centers were acquired throughout the eastern third of the U.S.
Commercial and residential development continued from Florida to the Northeast. Corridor and as necessary, Benerofe Properties formulated successful re-positioning plans for those properties in need of upgrading. Also at that time, Benerofe Properties implemented a new venture strategy; investing in young companies with growth opportunities, unrelated to its real estate holdings.
Through decades of growth and transformation, the company's core philosophy of applying strong owner energy and interest to all transactions remains a constant. Capitalizing on their experience and sound track record, Benerofe Properties has entered the new millennium committed to the continuity of building quality and pursuing solid investments.