Salvatore Frassetto, chairman of Fairfield-based Saddleback Real Estate Developers and founder and co-chairman of Tulfra Real Estate, has appointed Peter Feldman as president of Legacy Real Estate Developers.
Frassetto founded Legacy Real Estate Developers in 2023 to diversify and expand the family’s real estate investment portfolio.
Legacy focuses on identifying, acquiring, and managing distressed or undervalued properties that need a strong financial partner with deep resources to best serve their tenants and communities.
Feldman joined Saddleback in 2018, where he was responsible for overseeing the accounting and financial operations of the Frassetto family’s commercial real estate portfolio in New Jersey—gaining deep insight into asset performance, budgeting, and portfolio management. Feldman has successfully managed more than 20 million square feet of office and industrial properties, with projects valued at more than $1 billion.
Initially, Feldman focused on financial oversight at Saddleback, handling all facets of its finance and accounting functions while making sound investment decisions for the firm’s portfolio. Frassetto said that he saw Feldman’s potential to grow beyond a financial role from his earliest days, planting seeds for Feldman’s growth and involvement in the firm years before founding Legacy Real Estate Developers.
“For years, Pete has been an integral part of managing Saddleback’s finances and has demonstrated a keen understanding of, and passion for, the needs of northern New Jersey’s commercial real estate market,” Frassetto shared about the appointment. “The reins at Legacy Real Estate Developers are in incredibly capable and talented hands.”
As president of Legacy Real Estate Developers Feldman is responsible for all financial, managerial, and operational oversight of the firm and its projects. His goal is to rapidly grow the Legacy portfolio over the next few years, identifying and investing in a wide range of industrial and warehouse properties, including distressed commercial real estate that shows great potential to turn into revenue-generating properties for their communities — with the right management and resources behind them.
“Legacy Real Estate Developers was created to service the many well-located properties throughout New Jersey that simply needed more resources to attract tenants and bring value to the municipalities in which they’re located,” Feldman said. “By tapping into the incredibly valuable experience Sal and the Frassetto family bring to commercial real estate, Legacy Real Estate Developers is well-positioned to service distressed and undervalued assets that will benefit from this collective experience, knowledge, and connections.”
Legacy Real Estate Developers is one of several real estate-focused firms established and built by Sal and the Frassetto family. His daughter, Andrea Frassetto-Sidlovsky, runs the Franklin Lakes-based custom residential property company Garden State Homes, while his son-in-law, Robert Adams, is Principal and Broker of Record of Fairfield-based Garden State Realty.
“For decades, the Frassetto family has been an essential part of northern New Jersey’s commercial and residential real estate development, and I’m honored to carry that legacy forward as president of Legacy Real Estate Developers,” Feldman said.
