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PEOPLE ON
THE MOVE
LEGACY TAPS
FELDMAN AS
PRESIDENT
Legacy Real Estate Developers
has named Peter Feldman as its
president, fi lling the role with a
trusted executive from the affi liated
Saddleback Real Estate Developers.
In his new post, Feldman is
responsible for all fi nancial, managerial
and operational
oversight of
the Fairfi eld-
based fi rm and
its projects,
according to a
news release.
His goal is to
rapidly grow the
Peter Feldman
Legacy portfolio
over the next few years, identifying
and investing in a wide range of
industrial and warehouse properties,
including distressed commercial real
estate with the potential to become
revenue-generating properties for
their communities with the right
management and resources behind
them.
Feldman takes on the new position
after seven years with Saddleback
Real Estate Developers, the fi rm
founded in 1985 by the Frassetto
family as an outgrowth of Frassetto
Construction.
“For years, Pete has been an integral
part of managing Saddleback’s
fi nances and has demonstrated a keen
understanding of, and passion for,
the needs of northern New Jersey’s
commercial real estate market,” said
Salvatore V. Frassetto, Saddleback’s
chairman and founder and cochairman
of Tulfra Real Estate. “The reins at
Legacy Real Estate Developers are
in incredibly capable and talented
hands.”
The news release noted Frassetto
founded Legacy Real Estate
Developers in 2023 to diversify
and expand the family’s real estate
investment portfolio. The fi rm
has since focused on identifying,
acquiring and managing distressed
or undervalued properties that need
a strong fi nancial 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
fi nancial operations of the Frassetto
family’s commercial real estate
portfolio in New Jersey, gaining
deep insight into asset performance,
budgeting and portfolio management,
the news release said. He has
successfully managed more than
20 million square feet of offi ce and
industrial properties, with projects
valued at more than $1 billion.
The fi rm added that Feldman initially
focused on fi nancial oversight at
Saddleback, handling all facets of
its fi nance and accounting functions
while making sound investment
decisions for the fi rm’s portfolio.
Frassetto said he saw Feldman’s
potential for an expanded role from
his earliest days, planting seeds for
Feldman’s growth and involvement in
the company years before founding
Legacy Real Estate Developers.
“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
benefi t from this collective experience,
knowledge and connections.”
Feldman’s role with Saddleback
included taking on the added
responsibility of managing a portfolio
worth more than $100 million, the
news release said. That dovetailed
with efforts to redevelop hundreds
of thousands of square feet of offi ce,
industrial, multifamily, self-storage
and retail space.
He also remains integral to the day-to-
day operations at Tulfra Real Estate,
working closely with its leadership
team. Over the past 18 months,
Feldman has helped generate more
than $60 million in new business for
Tulfra and Saddleback Realty.
“All the work Pete has put in over the
years, combined with the hands-on
experience and lessons learned by
working closely with the leadership at
Saddleback, has made him the perfect
candidate to lead Legacy Real Estate
Developers into its next growth
phase,” Frassetto said.
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