Alfred Sanzari Enterprises is headquartered at its Court Plaza complex in Hackensack — Courtesy: ASE
By Joshua Burd
Alfred Sanzari Enterprises has hired a longtime industry executive as its new chief financial officer.
In a news release, the Hackensack-based owner and developer said Timothy DeCola joins its team with more than 25 years of experience in real estate financial management. He will leverage his background in financial analysis, management and planning, along with qualifications in investor relations and acquisitions, as he works closely with the company’s leadership team and oversees the accounting and finance departments.
That will encompass areas such as budgeting, forecasting, credit and cash management and lease administration, ASE said. DeCola will also oversee the organization’s risk management.
“We are thrilled to be able to bring Tim on board,” Alfred Sanzari Enterprises CEO David Sanzari said. Tim is no stranger to the impact a well-executed financial strategy has on a real estate organization, and the skills and experiences he brings to the table are exactly what we are looking for.”
DeCola most recently was the chief financial officer at Black Spruce Management, a multifamily real estate investment and management company owning more than 5,500 units in New York City, the news release said. During his tenure, the company successfully implemented a state-of-the-art, technology-powered budgeting process and accounting and HR solutions that led to enhanced efficiency and organizational transparency paired with substantial cost savings.
He is also a former chief financial officer for several real estate management and development companies including McConnell Development, The Commonwealth Group, Pettinaro Construction Co. and Levin Management Corp.
“Tim is an expert in his field whom we have no doubt will bring tremendous value to our company as he streamlines our financial operations and ensures that we continue to be a resilient and agile organization that is well-prepared to respond to any opportunities and challenges that the future might present,” said Ryan Sanzari, ASE’s president.
DeCola holds a bachelor’s in finance and an MBA in accounting from LaSalle University, the news release said. He is also a decorated veteran of the wars in Iraq and Afghanistan, having reached the rank of master sergeant in the Marine Corps Reserves, and was awarded the Marine Corps Achievement Medal in 2003 and the Meritorious Service Award in 2011.
“I consider myself fortunate,” DeCola said. “Working in the real estate industry is my passion, and I am thankful for the opportunity to join one of New Jersey’s most successful and respected commercial real estate companies. I look forward to working with the Alfred Sanzari Enterprises team to help them build upon their seven-plus decades of commercial real estate success.”
