THE PROMENADE AT SUMMIT OFFERS AFFORDABLE LUXURY AND UNMATCHED CONVENIENCE

SUMMIT, NJ, OCTOBER 2007 – The Promenade at Summit has something for everyone!

Nicholas Minoia, President of Diversified Properties, is using his "one step ahead of the trend" vision to create The Promenade at Summit which promises to be one of the most unique and successful mixed use developments in New Jersey in recent memory. Conveniently located at 545 Morris Avenue, just blocks from downtown Summit, The Promenade features 22 upscale condominiums and seven custom designed, single-family homes as well as over 15,000 square feet of upscale retail and office space. The Promenade is perfect for empty nesters, first-time homebuyers and those wishing to reside in such an ideal location as Summit.

Luxury Condominiums Feature Elegant Touches
The community of 22 luxurious 2-bedroom condominiums average 1400 square feet of living space which feature spacious 9 ft. ceilings inside soffited areas, designer gourmet kitchens with raised panel oak or maple wood cabinets, granite counter tops, top-of-the-line stainless steel appliances, as well as master suites with walk-in closets and private bathroom, oak hardwood flooring, energy efficient amenities and the latest technology. Also included is a private underground garage and elevator access. Preconstruction prices range from the high $500's to low $600's.

Single Family Homes – Upscale Living at an Amazing Value
A limited number of upscale 4-bedroom homes offer 2500 - 3500 square feet of living space which feature impressive 9 ft. ceilings throughout the first floor, designer gourmet kitchens with raised panel oak or maple wood cabinets, granite counter tops, top-of-the-line stainless steel appliances, spacious master suites with walk-in closets and a large private bathroom, energy saving features – thermostat, windows, 75 gallon gas hot water heater, 2-zone gas warm air/heat and central AC. Elegant exteriors are designed for beauty and energy-efficiency. Prices range from the mid $800's.

Summit... a Commuter's Dream
This beautiful tree-lined suburban community, a mere 30-minute train ride from Manhattan, has become a major transportation hub with easy access to Routes 24 & 78, the Garden State Parkway and Newark International Airport.

Known for its flourishing downtown retail district, Summit is a tapestry of retail and commercial businesses with an abundance of specialty and gift shops, fine clothing stores, excellent restaurants and ample free parking all within short walking distances. Within a short drive from Summit is The Mall at Short Hills, anchored by Neiman-Marcus, Nordstrom, Saks 5th Avenue, Bloomingdales and Macy's, one of the finest retail malls in the country.

Education and the Arts
Summit was rated by New Jersey Monthly magazine as the second most highly rated school district in New Jersey for 2006. The Summit Free Public Library offers a diverse array of cultural readings, movies and special events. The private schools of Oak Knoll, Kent Place and Oratory Preparatory are proud to call Summit their home.

Summit offers an array of programs, facilities and events to engage and educate the community in arts, recreation, cultural and spiritual guidance. The Summit Boards of Recreation and Education, the Summit YMCA and many other non-profit organizations enable residents of all ages the ability to participate in leisure and health-related programs. Summit has numerous playing fields, tennis courts, a running track, a 9-hole public golf course and a municipal pool, as well as a private tennis club. Additionally, Summit is home to Overlook Hospital, which was rated as the Number One hospital in New Jersey and the first in the Nation to be certified for Superior Care for Stroke Patients.

The historic Grand Summit Hotel, with its period architecture, is a local treasure where fine dining, meetings, weddings and holiday get-togethers are legendary.

Diversified Properties – A History of Quality and Success
Diversified Properties, headed by the Company's Principal, Nicholas Minoia, is a full-service real estate group having the resources and vision to address the challenges of today's real estate market. Mr. Minoia has conceived and developed numerous, high profile projects in New Jersey, New York (including Manhattan) and Connecticut.

Mr. Minoia's 25 year history includes brokerage, construction, construction management, finance and real estate law. Projects have included building custom single-family homes, townhomes and condominium communities, active adult and age-restricted communities, as well as, multi-family apartment complexes and land development for commercial and retail uses.

Mr. Minoia's success is attributed to his ability to be "one step ahead" of the trends in the real estate market. His vision has been pivotal to the success of projects he created and/or Joint Ventured as a Senior Partner with two of the largest and most successful residential and commercial real estate developers in the country, both based in New Jersey. It is this vision that has led him to create The Promenade at Summit which promises to be one of the most unique and successful mixed-use developments in New Jersey.