Developer Jerry Nash leaves legacy of honest real estate deals
By KIMBERLY HOUGHTON
Union Leader Correspondent |
July 29. 2014 8:15PM
Nashua developer Gerald Nash
NASHUA — In addition to his success as a New Hampshire real estate mogul, and his fame for being one of the most active developers in the state, Gerald “Jerry” Nash, who died Friday at the age of 90, was a man of his word, according to those who knew him best.
“He was a superstar for southern New Hampshire,” local developer John Stabile said of Nash, who died Friday at the age of 90.
In the 1960s, Nash teamed with Sam Tamposi, Sr. to create an unbeatable real estate development partnership.
“They were a dynamic team. They had a vision for the future of Nashua,” said Stabile, of the Stabile Companies in Nashua. “They were looking out 30 or 40 years.”
Everyone in the business knew Nash and Tamposi would look at just about any property, or try just about anything to make it a success, according to Stabile.
“They had a system, and they were two of the most honest men I knew in my life. People took them for their word,” said Stabile.
Nash was instrumental in bringing Digital Equipment, Kollsman Instruments, Anheuser-Busch and other large companies to the southern portion of the state.
Stabile described Nash as an informed risk taker who left his legacy to his children, who are also in the real estate business.
“My dad was a tough business person, but also very honest. He was a great negotiator, but when it was all said and done, he would take the person out to lunch,” said Mark Nash of Nash Construction LLC.
Failure was not an option for Nash, according to his son, who said he took the world head on, was often in the trenches making deals and at the end of the day just wanted to spend time with his family.
“My father had a great business mind. He just knew how to do it,” said Mark Nash, adding his father always wanted to be involved in the family business — even as late as last month.
Nash, of Hudson, came from a family of entrepreneurs, as his father owned Nashua Paper Box Company on Water Street. Although Nash eventually bought the company with his brother, his real passion was real estate sales and development partnerships.
Nash and Tamposi peaked at a time when southern New Hampshire was moderately undeveloped, and had a great opportunity to bring industrial and commercial businesses into the area, Stabile said.
“They were the first to build an automotive village in Nashua, which is still there today,” said Stabile. “They also built a city in Florida with thousand of lots, golf courses and recreational facilities.”
The real estate duo was virtually unstoppable, according to Stabile, who praised Nash and Tamposi for giving him some great opportunities when he arrived in the city in the late 1960s.
Sam Tamposi, Jr. said Tuesday that Nash was not only a mentor, but an impeccable man with honor and integrity.
“Jerry really enjoyed the challenge and the art of real estate deals. He and my dad always operated with a handshake,” said Tamposi. “He will be deeply remembered, and those who knew him best will never forget him. He was a renaissance man.”
Aside from being a prominent businessman, Nash was also an Army veteran, and served in Italy during World War II with the 10th Mountain Division. He was also a Boston University graduate and a long-term member of the Nashua Rotary Club.
In addition, Nash was one of the original incorporators of the 1590 Broadcasting Corporation and radio station WSMN in Nashua, and owner of the WNDS TV Channel 50 in Derry.
According to his son, Nash suffered from chronic obstructive pulmonary disease, a progressive disease that makes it difficult to breathe. He died just one day after being admitted to the Community Hospice House in Merrimack.
“It was in his mind, and he knew it was time to go. He said all of his goodbyes,” said Mark Nash.