38-40 Park Ave

Paterson, NJ

Novus undertook a comprehensive interior remodeling of the building. Their efforts were recognized in 2014 when they received the prestigious Paterson Historic Preservation Award for their remarkable preservation work. The building holds great significance in Paterson’s history, as it once accommodated a theater and a speakeasy during the 1920s. Presently, the building serves as a venue for various events and also features two ground floor retail establishments. Walking distance to main NJ Transit station.

Leslie Seale

Leslie Scott Seale’s life’s work has been informed by a lifelong love of our urban experience. Leslie grew up, and attended public schools in Jersey City, NJ. Jersey City is one of our most diverse communities in the country. This diversity of all peoples drives his passion for urban real estate.

Leslie’s first property was in Jersey City in 1984. In 1985 they did one of the first condominium conversions in the state of New Jersey. In 1987 Leslie converted their first building in a national historic district, on Hamilton Park, bringing back to life an 1890’s apartment house. Leslie did a land assemblage in the Journey Square area in 1989 which was stalled with the recession of 1990. They continued renovating residential properties, all in New Jersey urban communities, Jersey City, East Orange and Newark.

Leslie has always been committed to what design, and a community’s history can bring to the public’s experience. Leslie was on the Jersey City Planning Board in the 1990’s where they led an effort to get the LeFrak organization to begin topping out their Newport buildings with decorative lighting as a public beacon. They also led the effort to save the historic Colgate Clock on the Jersey City waterfront. The corporate owner at the time was advocating demolishing this piece of history, which now stands on the waterfront adjacent to the Statue of Liberty.

In 1997, Leslie and partner Steven Hess formed Novus Equities, a “new way” of transforming our urban core. Their company today has invested in over 700 apartments, urban retail, and office buildings. Highlights include two Affordable Housing projects in Paterson, NJ, one a 60- unit rental building, as well as new construction of 21 For Sale two family homes. On the For Sale project, Novus partnered with a Local Community Development group. Novus Equities also won a Historic Preservation award for the restoration of a commercial building/dance hall dating back to the Burlesque years.

Other notable projects include the Passaic Arts and Music building, where Novus Equities converted a 35,000 square foot apartment former meatpacking warehouse, into live/work artist lofts and ground floor retail. An example of their interest in public space is the inclusion of a 16-foot Treble Clef in multicolored neon, lit nightly, providing a waypoint for Passaic’s downtown. As well as, in West New York, Novus Equities built a 12-unit apartment building which includes a horizontal light bar, glowing the street up at night.

Today the Novus team continues to work on unique urban projects such as a multicultural food market/restaurant concept adjacent to Jersey City’s newest park.

Steven Hess

For over 24 years, I have been investing with my business partner, Leslie Seale, in North Jersey’s urban communities; buying, renovating, and managing apartment buildings. As a real estate investor and rehab professional, and a principal of Novus Equities, LLC, I specialize in turning distressed multifamily properties into “the best building on the block.”

My early career in apparel manufacturing fueled my passion for making and building things. My background in finance and business, coupled with my lifelong dream of making a difference in our communities through real estate are what fuel my professional life today. It all started with my first investment in a 12-family apartment building and has now become a portfolio of 700 apartments, retail spaces, and office buildings.

I’m proud of the work we are doing, rehabilitating, and reimagining New Jersey’s urban core. Whether gut renovations or new construction, our goal is to create quality, affordable housing while also beautifying blighted blocks and lots. By investing in these communities, we are playing a part in urban revitalization in East Orange, Elizabeth, Irvington, Jersey City, Newark, Passaic, Paterson, and West New York—cities that, as I often say, were “unloved” for many years. We understand the value of nurturing our urban downtowns and maintaining the live/work and transit hub areas so many people rely on.

As landlords, my partner and I are also investing in people. Over the years, we’ve seen families thrive, kids grow up and go off on their own, and mom & pop retailers build businesses that are the cornerstone of their communities.