TEANECK, N.J. – Real estate development, construction and management firm Key Properties of Teaneck has been named a 2017 “New Jersey Family Business of the Year” honoree by Fairleigh Dickinson University’s Rothman Institute of Innovation and Entrepreneurship. Key Properties’ selection in the Institute’s 25-year-old awards program recognizes the firm’s significant contributions to both the economy and community.

While formally founded in 1983, Key Properties maintains roots dating back to 1952 when Abraham Schlussel launched his construction business. Beginning in the 1970s and through the following decade, he expanded into real estate investment as a private owner and joint venture partner. His sons, Marc and David, joined the company in the mid-1980s as co-managing partners, and have continued to guide and expand the company’s portfolio. In 2017, David’s son, Jonathan, joined Key Properties – marking the involvement of a third generation of Schlussels.

“We are extremely proud each day to continue the legacy our father started more than 60 years ago,” Marc Schlussel said. “Being recognized as a leading family-owned business in New Jersey is a great honor, and it is meaningful to share this achievement with so many other successful and deserving organizations.”

The 25th New Jersey Family Business of the Year Awards will honor 16 companies at an awards luncheon on Oct. 25 at the Crystal Plaza in Livingston, N.J. “This prestigious award recognizes the ‘best of the best’ in family business success in New Jersey,” said Timur Pakay, executive director of the Rothman Institute. “This year’s recipients exemplify a multigenerational impact on the community, perseverance, and commitment to family and business success.”

Key Properties invests in a diverse range of commercial property types – with a focus on value-added potential – and is a leading expert in Brownfields redevelopment and condemnation proceedings. Concentrated in Northern and Central New Jersey, the Key Properties portfolio today includes approximately 500,000 square feet of assets and over 30 acres of developable land. Since its inception, Key Properties has completed a variety of projects including office, industrial and retail properties, as well as mixed-use developments.