Patrick Fasano – Real Estate Developer, Restauranteur

 

Patrick Fasano has over forty years of real estate development experience. It all started in 1974 while he was working at his first restaurant job in New Brunswick. With the savings he earned, Patrick began buying boarded up houses and renovating them. He even rented these single and multi-family homes to the staff that worked along side him in the restaurant. The owners of the restaurant eventually invested in Mr. Fasano to begin his first business, Reliable Properties. After buying and flipping the first four houses they bought together, he decided to branch off on his own. By the time 1985 rolled in, he bought and mostly sold fifteen properties and the ones he still owns today are currently rented to Rutgers University students.

Through the years Mr. Fasano rehabbed properties in Newark, Jersey City and then during a ski trip in the early 90’s he acquired a mixed-use downtown commercial building in Utah. He relocated to Salt Lake City to gut rehab this thirty-four unit building. It was sold in 2000, prior to the 2002 Winter Olympics and those proceeds invested in the Asbury Park area.

From 1995 to 1999 Mr. Fasano purchased boarded up hotels in Ocean Grove. Three of them were converted to condominiums and two of them were restored to hotels. During this time period he also tackled a large project in New York State where he converted an old school into an eighteen-unit condominium building. The Ulster Academy Lofts in Kingston was completely within a year and received high praise from the Community Preservation Corporation who financed the project.

In 1998 he acquired his first building in Asbury Park on Bangs Avenue. The first floor of this building he donated to the gay & lesbian community and the second floor was converted into apartments to provide housing for his contracting employees as they began rehabbing more buildings throughout the beachfront city. Over the past fifteen years Mr. Fasano has focused on developments in Asbury Park. In the past decade he built over two hundred condominium units for sale with a market value of over $50 million. Additionally he built a number of commercial spaces and restaurants such as Brando’s, The Asbury Lanes, The Wonder Bar, Plaza Tapatia, The Bond Street Complex, and Passion as well as twelve storefronts on Cookman & Mattison Avenue.

In the past year Patrick Fasano has acquired two locations and two liquor licenses in Atlantic City. 3426 Atlantic Avenue and 205 South New York Avenue will soon become part of his restaurant brand, something that has been thriving in Asbury Park since 2009. He has even purchased and began rehabilitation on a house located on Tallahassee Avenue to once again provide lodging for his crew. With a proven history of positive redevelopment and a team of restaurant professionals, Mr. Fasano is excited for the opportunity to be part of Atlantic City’s redevelopment.