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Frank Nitti
Frank Nitti grew up in a family of real estate investors. He
determined at an early age to learn as much about all aspects of the business
that he could, setting specific educational goals for himself. During college,
he started to sell residential Real Estate for a Bergen County New Jersey
Realtor in the early 1980’s. Though the interest rates were at historic levels
he succeeded where his contemporaries did not. He was instrumental in having
his brokerage firm be one of the first to use original artist vignettes,
instead of the typical photo of the day.
Mr. Nitti then went into the field of Property
Management with a major commercial New York
metro area firm. He quickly became the point man in the department dealing with
the company’s major financial investment partners. Mr. Nitti
analyzed the markets, created budgets, leasing strategies, capitol
improvements, etc. for the holdings under management for clients such as, J.P.Morgan, Citibank, Summit Bank, Wells Fargo and
individual investors. The portfolio included several million square feet of
office and retail space, along with approximately 4,000 apartments. His duties at this firm also included the
supervision of and responsibility for the retrofitting of numerous office,
retail and residential complexes.
He was then recruited by and went to work for a large private holding
company. There he successfully accomplished
his mission of restructuring their leased residential
apartment holdings to condominiums and co-op units.
Mr. Nitti then joined Custom Living as a Regional
Manager of Land Acquisitions. Shortly thereafter he was promoted to Director of
the Department. Along the way he was instrumental in creating the companies
urban development division. At the time, Custom Living was unique in
recognizing that urban redevelopment was to be a forefront in the future. Mr. Nitti is an expert in dealing with properties that require environmental cleanup and/or have issues related to inner
city approvals, infrastructure and construction obstacles.
After Custom Living ceased its building and development operations, Mr. Nitti was tapped by a NYSE retail business to provide
acquisitions, and turn key completion of their retail units. He determined site
locations, directed all governmental approvals, professionals, contractors,
expansion plans, refrigeration equipment, phone systems, security systems, etc.
for dozens of new locations around the country.
He has also worked as a receiver for institutions, managed
construction for major pharmaceutical companies, medical organizations and
national hospitality firms.
Recently Mr. Nitti has developed for his personal
holdings a 25 lot residential development in Morris County New Jersey. He had to guide the project through a
complicated and arduous multi-year approval process costing over a million
dollars and involving several environmental, open space and green acres issues. Upon completion of the entitlements for the
project, the development
was lauded by the host Township for its contribution to open space parkland and
as the most environmentally conscience project introduced to their community
ever.
Now, Mr. Nitti has been asked to contribute his
knowledge and experience to the opportunities available to Chartwell
Capital, joining Jerry
Long and Bob Casse, with whom he worked for many
years previously, and Dan Gural.
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