Union, N.J. (August 9, 2023) – Diversified Properties, one of the region’s most experienced and active commercial real estate developers and owners, announces that Founder and Managing Partner Nicholas Minoia was recognized as an ICON at NJBIZ’s seventh annual ICON Awards event on Tuesday, August 8th at The DoubleTree by Hilton in Somerset, N.J.
Held annually, the NJBIZ ICON Awards recognize business leaders over the age of 60 for their notable success and demonstration of strong leadership both within and outside of their chosen fields.
“It’s a tremendous honor to be named as an NJBIZ ICON alongside so many respected and accomplished individuals who make such a positive impact on our state of New Jersey,” said Minoia. “However, this award would not have been possible without my team at Diversified Properties as well as the countless professionals who I have had the pleasure of working with throughout my career. I am eternally grateful for their support and guidance and look forward to building on our success together in the years to come.”
Minoia founded Diversified Properties in 2000 and his leadership has helped the company and affiliated entities grow into one of the most respected commercial real estate developers, investors and managers in the Northeast. Over the last two-plus decades, Diversified Properties and affiliated partners have successfully created dozens of multifamily communities comprising over 10,000 units across N.J., N.Y., Pa., MD and CT. Today, it manages an existing portfolio and development pipeline spanning several thousand residential units across multiple properties in three adjacent states. The company has also brought over 750,000 square feet of office, self-storage, retail, and industrial space to the market since the company’s founding and today manages a portfolio comprised of over 350,000 square feet of commercial space that is home to over 50 commercial tenants.
Recently, Minoia led the construction of Summit Court, a 393-unit, luxury multifamily community in Union, N.J. Constructed during the height of the COVID-19 pandemic and the subsequent macroeconomic turbulence, Minoia’s steady hand and vision enabled the company to overcome significant obstacles to bring the community to completion and provide hundreds of people their ideal new home.
Minoia’s ability to excel in one of the nation’s most competitive real estate markets is driven by his significant experience across the real estate industry. He began his career as a Project Manager for various Manhattan-based real estate developers overseeing the construction of high-profile buildings including a new mid-rise residential tower and a 40-story building at Lexington and 57th Street. He went on to be President of Real Estate Subsidiaries for a Bergen County savings & loan institution where he was responsible for loan workouts, liquidation of joint ventures and REO. In 1992, Minoia co-founded Pinnacle Communities, an affiliated Garden Homes Company based in Short Hills, N.J.
With Pinnacle Communities, Minoia oversaw the construction of luxury custom single-family homes, townhomes, and condominium communities as well as the acquisition and development of apartment complexes, office buildings, industrial spaces and retail properties. In 1998, he continued his climb up the corporate ladder becoming President of Westminster Communities, one of the largest private development companies in the Northeast. Under Minoia’s leadership, in just two years, the company was responsible for the construction and development of several thousand residential units which included several large-scale redevelopment projects.
Minoia is also dedicated to giving back to his local community. He currently serves as a board member for ConnectOne Bank, a chartered New Jersey commercial bank that provides various commercial banking products and services. Minoia also serves on ConnectOne Bank’s Corporate Governance and Audit Committee and is the Chairman of the Loan Committee. In addition, he is a member of the Board of Trustees of RWJBarnabas Health’s Clara Maass Medical Center, a fully accredited acute care facility offering world‐class medical treatment to patients across northern New Jersey. Minoia also serves as a Trustee for the Summit Conservancy, a non-profit organization that creates positive and lasting environmental change within New Jersey.