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PROFETA JOINS NJIT
BOARD OF TRUSTEES
Editor’s note: Paul Profeta is the
owner and publisher of
Real Estate NJ.
Gov. Phil Murphy has appointed
Paul V. Profeta, a commercial
real estate investor and
developer for nearly 50 years, to
New Jersey Institute of Technology’s
board of trustees.
Profeta, the founder of Paul V.
Profeta & Associates in Roseland,
has been involved with the Newark-
based university for a decade and
is responsible for the single-largest
donation in its history. Announced
in 2021, the gift led to the launch
of the school’s Profeta Center for
Innovation and Entrepreneurship
and Profeta Real Estate Technology,
Design and Innovation Center.
He joined the board of directors for
the Foundation at NJIT in 2014.
“I have met and gotten to know
most of the members of the board
of trustees through my involvement
with NJIT,” Profeta said. “Most of
them are alumni. They care deeply
about the school and work hard on
committees and in board meetings
to make NJIT the best it can be.
They are an inspiring group.”
Profeta, who launched Real Estate
NJ in 2016, owns commercial
properties all over the country
and has decades of experience
in business, education and
philanthropy that has largely
focused on revitalizing Newark.
That includes the Profeta Urban
Investment Foundation, which he
launched in 2008 to help start or
expand minority-owned businesses
in Newark by providing expertise,
mentorship and interest-free loans.
In recent years, he has also
helped NJIT secure an offi ce
lease in downtown Newark for
administrative use, creating space
for expanded academic facilities.
The school also pointed to his
support of the community and his
efforts to supply fresh produce
from his family’s organic farm to
NJIT’s Food Pantry, which supports
students in need.
“Paul is an exceptional friend
of NJIT, generous with his time,
wisdom and expertise and loves
Newark as much as we do,”
President Teik C. Lim said. “We are
grateful to add his enthusiasm and
experience to a diverse group of
alumni and business leaders who
serve generously as Trustees.”
NJIT said Profeta’s appointment to
the board of trustees, confi rmed
by the state Legislature on Sept.
30, underscores his dedication
to the university’s mission.
Meantime, NJIT’s Profeta Center for
Innovation and Entrepreneurship
recently graduated its fi rst two
classes of minority entrepreneurs,
paving the way for the launch
of dozens of businesses led by
Newark-area residents.
Profeta has also launched real
estate centers at Columbia Business
School in New York in 1980 and at
Rutgers Business School in Newark
in 2013.
“We greatly value Paul’s deep
experience as a business leader
and what he has accomplished in
partnership with NJIT, particularly
on behalf of students and local
entrepreneurs,” said Robert Cohen,
who chairs the board of trustees.
“We look forward to building on his
relationship with NJIT as he begins
his tenure on the board.” RE
Courtesy: NJIT
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