Peter Feldman was appointed president of Legacy Real Estate Developers by Salvatore V. Frassetto, chairman of Fairfield-based Saddleback Real Estate Developers and founder and co-chairman of Tulfra Real Estate. 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.
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. Feldman has managed more than 20 million square feet of office and industrial properties, with projects valued at more than $1 billion.
“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 said. “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 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 potential to turn into revenue-generating properties for their communities.
“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.
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.
