Our Story
With a passion for entrepreneurship, Calabrese Development was founded by brothers Dominick and Matthew Caruso – both representing institutional quality experience in real estate investment, development, asset management, and construction management.
Rooted in the Southern Italian region of Calabria, our company's story pays tribute to our courageous ancestors who left everything behind in search of the American Dream. As founders, Dominick and Matthew are the embodiment of that dream carried out by Italian immigrants who set sail on a journey hoping that they could offer a better life to the lineage that followed in their wake. Our core identity is to channel that same courageous and entrepreneurial spirit day-in and day-out to execute our vision of building something better for the people and communities we serve. This is our story, and together we can help build yours.
Dominick Caruso IV Co-Founder
Dominick Caruso IV has 13+ years in real estate construction and development experience. He holds a B.S. in Construction Management with a minor in Business Finance, magna cum laude, from New Jersey Institute of Technology.
Prior to co-founding Calabrese Development, Dominick spent 7 years at Belle Associates, a construction management firm partnered with Roseland Residential Trust (a Mack-Cali Company). He spent his time at Belle as a Project Manager where he participated in just over $400M in residential multifamily and hotel construction (1,000+ units) and $600M in cost estimating and conceptual budgeting.
Dominick's development portfolio spans diverse projects ranging from larger 30+ acre, 3-5 story wood frame projects to 1 acre, 10+ story hollow core plank/cast in place structures all boasting 200-375 units in size.
His skill sets include conceptualized budgeting, cost estimation, value engineering, design review, project accounting, cash flow projection, contract negotiation, scheduling, and comprehensive project oversight.
Matthew Caruso
Co-Founder
Matthew Caruso has a decade’s worth of real estate investment, development, and asset management experience and holds a B.S. in Real Estate with a minor in Business Law, summa cum laude, from Penn State’s Smeal College of Business.
Prior to co-founding Calabrese Development, Matt worked for Tishman Speyer’s New York investment group focusing on asset management, investment, and development.
Prior to that, he worked for Wells Fargo’s real estate finance group in New York, specializing in the underwriting/origination of over $2.6Bn worth of construction & development loans.
Matt has also held analyst positions for both Silverstein Properties and Advance Realty as part of their investment & development groups.
Matt’s investment experience spans complex and institutional debt/equity transactions including distressed loan workouts, distressed asset repositioning's, residential land entitlement (200+ units; 50+ acres), major redevelopment master-planning, commercial leasing, ground-up development, and hands-on asset management of 3M+ SF of office space.
Thomas Walker
Partner - Director of Construction
Thomas Walker has 10+ years in real estate construction and engineering experience. He holds a B.S. in Civil Engineering from Penn State’s College of Engineering. Thomas is also LEED AP BD+C accredited and holds his 62 Hour Site Safety Supervisor Card.
Prior to joining Calabrese, Thomas spent over 7 years at CNY Group, a construction management firm based in Manhattan, NY. As a Senior Project Manager at CNY he oversaw the estimating, procurement, construction, and turnover of over $270M of work in residential multifamily across multiple asset classes ranging from affordable housing rentals to luxury condominiums in NYC and NJ. Among Thomas’ extensive construction portfolio is multiple award winning 64 University Place in New York featuring intricate hand laid brick designs, tiered private terraces, and custom luxury interior finishes.
In addition to his construction experience, Thomas helped found CNY’s Sustainability programs, and was an integral part of the development and implementation of multiple site specific sustainability measures, including site waste diversion, construction water and energy use reduction, and green concrete research and execution. Thomas’s sustainability efforts helped earn CNY’s B Corp status, and Thomas was recognized as one of Crain’s New York Business 2024 Notable Leaders in Sustainability.
His skill sets include pre construction services, project planning and coordination, project estimating, scheduling, value engineering, design review, sustainability practices, site safety, project supervision, and a commitment to servicing clients.
