Diversified Properties

What Diversified Properties does

Diversified Properties LLC is a privately held, vertically integrated real estate development company headquartered in Montville, New Jersey, founded in 2000 by Nicholas Minoia. The firm executes opportunistic ground-up development and value-add redevelopment of multifamily, commercial (office, flex industrial, retail), and self-storage properties across the northeastern United States (NJ, NY, PA, MD, CT), and has cumulatively developed more than 10,000 multifamily units and 800,000 square feet of commercial space representing over $1.5 billion in real estate value. The current development pipeline spans 4,000 residential rental units across 10 communities, and the company maintains an owned and managed portfolio valued in excess of $500 million, including approximately 1,000 residential units and over 300,000 square feet of commercial space.

The operating platform is fully integrated in-house: Morris Construction Management (a wholly owned affiliate acquired in 2013) handles construction, an in-house acquisitions team (led by Director of Acquisitions Jon Leifer and analyst Claudio Lopez) underwrites land and non-performing-loan opportunities, an in-house leasing function markets each property directly, and the DP Property Management division (managed by Regional Property Manager Nicole Stio with 30 years of experience) operates the portfolio and, as of 2025, is open to third-party owners. Revenue is generated through three primary streams: (1) development and disposition of stabilized assets (for example, the $11.6M sale of 480 Flatz and the $132M sale of the 393-unit Union property with Fidelco Realty Group), (2) recurring rental income from the owned multifamily and commercial portfolio, and (3) property management fees, including the newly launched third-party management offering. Distribution is exclusively direct: in-house leasing offices at each community, property-specific websites (e.g., jeffersonplacenj.com, summitcourtunion.com), and broker relationships (Gebroe-Hammer Associates, Resource Realty) for stabilized-asset sales.

The customer base spans individual residential renters, commercial tenants across financial services, healthcare, childcare, and industrial/logistics, and institutional or private investors acquiring stabilized assets. Key joint venture partners include Fidelco Realty Group, Hampshire Companies, North Jersey Builders Group, and Sterling Properties Group (entered 2026 for Connecticut expansion), with financing relationships including Kearny Bank and access to real estate crowdfunding capital. Leadership was professionalized in 2021–2022 with the hires of Greg Adami (CFO/COO, ex multi-billion-dollar Manhattan family-owned real estate firm, Georgetown/NYU Stern) and Peter Matarazzo (CFO), alongside VP of Land Development Steven Weinstein (licensed PE, LEED-accredited, 35+ years).

Name

Diversified Properties

Legal name

Diversified Properties LLC

Website

https://diversifiedproperties.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Diversified Properties is a privately held, vertically integrated Northeast US real estate developer executing ground-up and value-add multifamily, commercial, and self-storage projects across NJ, NY, PA, MD, and CT, with a 4,000-unit pipeline and $500M+ owned portfolio.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Other Real Estate Property (53119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Multifamily real estate development
• Commercial real estate development
• Luxury apartment communities
• Self-storage development
• Real estate property management

Headquarters

HQ city

Montville

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development and Property Sales: Diversified Properties generates revenue through ground-up development and redevelopment of multifamily, commercial, industrial, retail, and self-storage properties throughout the northeastern US. The company develops properties, leases them up, and either holds them in its portfolio or sells them for profit — as demonstrated by the $11.6M sale of 480 Flatz in East Rutherford and the $132M sale of a 393-unit Union rental property.
2. Property Management Services: Diversified Properties manages its own portfolio of multifamily and commercial properties and has expanded its property management division to offer services to third-party property owners. Revenue is generated through ongoing management fees from owned properties and third-party clients.
3. Debt Acquisition and Foreclosure Resolution: The company acquires non-performing loans and foreclosed properties, completing construction and repositioning them — such as the Summit Ridge Apartments (200 units acquired via non-performing loan in 2011, completed and sold in 2014) and Summit Place Apartments (148 units acquired via foreclosure, renovated and sold in 2017).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Diversified Properties is a real estate development company that executes ground-up development, value-add redevelopment, and distressed-asset acquisition of multifamily, office, self-storage, retail, and industrial properties across the northeastern United States. The company handles the full development lifecycle in-house — land acquisition, entitlements, construction management, leasing, and property management — and either holds stabilized assets in its portfolio or sells them to investors for profit. It also operates a construction affiliate (Morris Construction Management) and a third-party property management division (DP Property Management).

Product overview

Diversified Properties operates as a real estate development company offering a diversified portfolio of residential and commercial properties. Their residential portfolio includes luxury apartment communities (Jefferson Place, 30 Court, Summit Lane, Summit Terrace, Summit Court, Meadow Ridge, Irondale at Wharton, 480 Flatz, Brookside at Montville, The Farms at Stony Hill) and completed projects (Summit Ridge Apartments, Summit Place Apartments). Commercial offerings include flex industrial space (Montville Business Park, 45 Indian Lane), self-storage facilities (Hackensack, CubeSmart Montville), and office properties (Montville Center). The company specializes in ground-up development and redevelopment of multifamily, office, self-storage, retail, and industrial real estate projects throughout the northeastern United States.

Differentiator

Problem solved

Functional benefit

Brands

• Diversified Realty Advisors: Joint venture entity used for large mixed-use development projects such as Edge-on-Hudson
• Morris Construction Management
• DP Property Management

Products and services

• Jefferson Place 107-unit luxury rental community in Jefferson Township, NJ offering one- and two-bedroom apartments with luxury amenities including fitness center, outdoor lounge, private garages, and storage units; Phase I reached 50% leased early in lease-up.
• 30 Court 58-unit ultra-luxury apartment building in Morristown, NJ located two blocks from Morristown Green, offering floorplans with up to 2,000 square feet of indoor and outdoor living space.
• Summit Lane 188-unit luxury apartment community built in 2015 in the Town of Newburgh, New York, set on 27 acres with clubhouse, swimming pool, and private garages.
• Summit Terrace 270-unit luxury apartment community built in 2017 in New Windsor, New York, set on 20 acres featuring clubhouse, swimming pool, and private garages.
• Summit Court Multi-phase luxury residential community with 396 units in Union, NJ; first phase of 130 units completed and stabilized, with final phase of 266 units under construction.
• Brookside at Montville 266-unit age-restricted (55+) active adult community planned on a 30-acre scenic site in Montville, NJ, featuring multifamily homes in four-story buildings with townhomes, clubhouse, pools, and conservation land.
• The Farms at Stony Hill 117 luxury rental apartments in Bethel, CT featuring a state-of-the-art clubhouse with lounge, coffee bar, work-from-home space, and leasing center.
• Irondale at Wharton 60-unit luxury rental community in Wharton, NJ on a 1.8-acre site with convenient access to local highways and mass transit; financed using real-estate crowdfunding; now fully leased.
• 480 Flatz 35-unit luxury elevator apartment building in East Rutherford, NJ built in 2020 with spacious one- and two-bedroom units; achieved full occupancy in July 2021 and was sold for $11.6M in Q3 2021 to a private investor.
• Meadow Ridge 185-unit luxury apartment community built in 2020 in Town of Newburgh, NY, set on 18 acres with clubhouse, swimming pool, and private garages.
• Montville Business Park Flex industrial space up to 110,000 square feet located at Exit 47 off Route 287 North in Montville, NJ; currently under construction.
• 45 Indian Lane 34,000-square-foot industrial property in Towaco, NJ with 17,000 square feet available for lease.
• CubeSmart Self-Storage (Montville) 98,000-square-foot, 755-unit, fully climate-controlled self-storage facility in Montville, NJ opened via ribbon-cutting in 2021.
• Hackensack Self-Storage Facility 80,000-square-foot climate-controlled self-storage facility developed as a joint venture with Hampshire Companies and later sold to Extra Space Storage.
• Montville Center 33,900-square-foot office building at 350 Main Road in Montville, NJ; includes on-site daycare and serves as the company's headquarters; multi-tenant office leasing reached 98% occupancy.
• DP Property Management Property management division offering services for the company's owned multifamily and commercial portfolio and (since 2025) for third-party property owners, covering leasing, tenant relations, renewals, and operations across luxury residential and commercial assets.
• Morris Construction Management Affiliated construction management firm providing in-house construction services for Diversified Properties projects from initial budgeting and forecasting through Certificate of Occupancy.
• Kinsley (Sterling / Diversified JV) 117-unit luxury apartment project developed by Diversified Properties in joint venture with Sterling Properties Group at 36 Stony Hill Road in Bethel, Connecticut; ribbon-cutting held February 2026, marking Diversified's entry into the Connecticut market with Sterling as lead operating partner.

Quantifiable outcome

• Developed over 10,000 multifamily units and over 800,000 SF of commercial space since 2000
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Sterling Properties GroupcoreStrategic or Co-development Partner · 24 February 2026Sterling Properties Group and Diversified Properties formed a joint venture to develop Kinsley, a 117-unit luxury apartment project at 36 Stony Hill Road in Bethel, Connecticut. The joint venture marks Diversified Properties' entry into the Connecticut market. Sterling hosted the ribbon-cutting ceremony and serves as the lead operating partner.
• Orange County PartnershipcoreGTM or Marketing Partner · 15 January 2026Diversified Properties joined as an investor member in the Orange County Partnership, a leading economic development organization dedicated to attracting investment and fostering job creation throughout Orange County, NY. The partnership provides access to a network of influential businesses, municipalities, developers, and local professionals working collaboratively on regional economic development initiatives.
• Coast-To-Coast Storage (RK Kliebenstein)majorStrategic or Co-development Partner · 16 November 2021Diversified Properties entered into an exclusive partnership with Coast-To-Coast Storage, the largest and most respected self-storage consultancy brand in the world. RK Kliebenstein, President, will work with Diversified Properties to identify favorable self-storage development sites throughout the New York metropolitan area. Kliebenstein has underwritten over $3 billion in self-storage transactions.
• North Jersey Builders GroupcoreStrategic or Co-development Partner · 4 November 2021Diversified Properties and North Jersey Builders Group formed a joint venture to develop 480 Flatz, a 35-unit luxury multifamily building in East Rutherford, NJ. The project was completed in Q2 2021, achieved full occupancy in July 2021, and was sold for $11.6 million in Q3 2021.
• Fidelco Realty GroupcoreStrategic or Co-development PartnerDiversified Properties and Fidelco Realty Group have partnered on multiple multifamily developments, including the 393-unit Union, NJ rental property sold for $132 million, as well as joint ventures on other multifamily communities. Fidelco is a long-term joint venture partner.
• The Hampshire CompaniesmajorStrategic or Co-development PartnerDiversified Properties and The Hampshire Cos. formed a partnership to acquire industrial and multifamily assets. Their joint ventures include the acquisition of Mars Industrial Park (five-building, 100,000 SF industrial portfolio in Montville), the development of an 80,000 SF climate-controlled self-storage facility in Hackensack (later sold to Extra Space Storage), and the acquisition of a 40,000 SF industrial building in Bergenfield with adjacent multifamily redevelopment opportunity.
• Gebroe-Hammer AssociatesminorChannel Partner/ Reseller/ DistributorGebroe-Hammer Associates represented Diversified Properties and North Jersey Builders Group in the sale of 480 Flatz to a private investor. President Ken Uranowitz and SVP Debbie Pomerantz facilitated the transaction.
• Resource Realty of Northern New JerseyminorChannel Partner/ Reseller/ DistributorGreg Sabato and Tom Consiglio of Resource Realty of Northern New Jersey represented the seller as well as the new ownership team in the acquisition of 72 North Washington Ave in Bergenfield by the Diversified Properties and Hampshire partnership.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Lennar Multifamily Communities (LMCC): National multifamily development arm of Lennar Corporation, building luxury rental communities across major US metros. Broader incumbent peer; comparable on multifamily product and development model, but operates at substantially larger scale and geographic breadth than Diversified Properties.
• Toll Brothers Apartment Living: Multifamily development division of Toll Brothers, focused on luxury rental communities nationwide. Broader incumbent peer; comparable on luxury multifamily positioning and build-to-rent development model, though with significantly larger scale and national footprint.

Direct peers

• Woodmont Properties: NJ-based developer of multifamily, mixed-use, retail, and industrial properties across the Northeast. Directly comparable to Diversified Properties on product mix, geography, and scale; Anthony Ciallella (Diversified VP of Construction) previously worked at Woodmont, underscoring market overlap.
• Garden Communities: NJ-based developer of multifamily and mixed-use communities with strong Northeast presence. Directly comparable on geographic focus, multifamily specialization, and pipeline scale to Diversified Properties.
• BNE Real Estate Group: NJ-based, family-owned multifamily developer with a portfolio of luxury and mixed-income communities across the Northeast. Directly comparable on geography, product positioning, and customer base to Diversified Properties' multifamily pipeline.
• Russo Development: NJ-based multifamily, mixed-use, and commercial developer active across the Northeast. Comparable on geography, asset classes, and pipeline-driven development model to Diversified Properties.
• The Hampshire Companies: New Jersey-based real estate investment and development firm focused on multifamily, industrial, and self-storage. Long-standing JV partner of Diversified Properties (e.g., Mars Industrial Park, Hackensack self-storage), making it a directly comparable peer on geography, asset classes, and deal structure.
• Sterling Properties Group: NJ-based multifamily developer that partnered with Diversified Properties on the Kinsley 117-unit luxury project in Bethel, CT. Comparable on product (luxury multifamily), geography (NJ/CT), and execution model (JV-driven ground-up development).
• Fidelco Realty Group: NJ-based multifamily developer and long-time JV partner with Diversified Properties, including the $132M sale of the 393-unit Union rental property. Operates in the same submarkets with similar asset profile, making it a directly comparable peer.
• Pinnacle Communities: NJ-based multifamily developer co-founded by Nicholas Minoia prior to founding Diversified Properties. Comparable on geography, multifamily product, and developer playbook; represents a predecessor venture with overlapping team DNA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/DivPropNJ
• Facebookfacebook.com/DiversifiedPropertiesLLC
• LinkedInlinkedin.com/company/diversifiedproperties

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Diversified Properties