Paul Profeta is one of two sons born to immigrant parents in Maplewood, New Jersey. He went to local public schools but finished at Philips Exeter Academy in 1962, graduated from Harvard College in 1967 and then got an MBA from Harvard Business School in 1971.
Since graduation, Profeta’s career has followed three paths: business, education and philanthropy.
After working for Eastdil in New York and then Feist & Feist in Newark, Profeta launched Paul V. Profeta Associates, Inc., in 1976, a real estate investment company that is actively engaged in procuring value added investment properties throughout the country. Paul V. Profeta’s various entities have owned or still own millions of square feet of office space, industrial space, retail space, and thousands of apartment units. Profeta also owned Feist & Feist Mortgage Corp., a mortgage-banking representative for Mass Mutual, State Farm, Mutual of New York, Penn Mutual and Security Mutual. This company is presently inactive.
Simultaneously, Profeta pursued a career in education. After lecturing 3-4 times per semester at his alma mater, Harvard Business School, he became an Associate Adjunct Professor at Columbia Graduate School of Business and was cofounder of the Real Estate Finance Department at that institution from 1980-1989. He actively wrote cases, lecturer and taught in the M.B.A. program and the M.D.P.E. program (M.B.A. Program for Returning Executives). Mr. Profeta has had two cases published by the Harvard Business School Press and Columbia Business School. Mr. Profeta has also lecturer extensively at the Johns Hopkins Graduate School of Business and Rutgers Business School.
In 2008, Mr. Profeta founded the Profeta Urban Investment Foundation at Rutgers Business School, which is a 501(c)(3) not-for-profit corporation that he has funded to provide seed capital for start-up and stage one minority owned commercial ventures in Newark, NJ. The analysis, monitoring and mentoring of these minority owned businesses is being carried out by graduate students at Rutgers Business School, who are enrolled in The Center for Urban Entrepreneurship and Economic Development (CUEED) program, whose creation was funded by the Profeta Urban Investment Foundation. To date, the Foundation has launched ten businesses representing 50 new jobs, with five more set to go shortly.
The creation of Radius magazine was a natural extension of the Foundation’s activities. The magazine’s mission is to portray Newark in a positive light, as opposed to the treatment it receives from the local print media.
Profeta is a member of the Board of Overseers of Rutgers University, the Board of Advisors of Rutgers Business School, the Board of Overseers at New Jersey Institute of Technology and was formerly on the Board of Trustees of Rutgers, the 200 Club of Essex County, Our House Inc., the Intersect Fund and Union Center National Bank.