Real Estate Business

How Boraie Development Is Changing The Future Of Real Estate In New Jersey

The Northeastern state of New Jersey might not yet be known for being a hub for business and entrepreneurial activity but it definitely should be. The state currently serves as the home base for many large international companies including the skincare and health company that is known as Johnson and Johnson and the pharmaceutical company that is known as Merck. New Jersey has also served as the launching point for the rise of a successful family business that is known as Boraie Development LLC.

Boraie Development LLC is a company that is well known in the world of New Jersey real estate. The firm is the brainchild of its founder Omar Boraie who grew the company from the seed of an idea that he had when he came to New Brunswick, New Jersey many decades ago. While upscale development projects for both residential and commercial real estate is a fairly common occurrence these days in New Brunswick, New Jersey if you were to ask Omar Boraie about the state of the real estate market in New Brunswick back in the early 1970s he would probably be sure to tell you that things were not always this vibrant. In an interview with the local New Jersey publication NY Times, Omar Boraie tells the story of what things were once like in New Brunswick before development companies like his started doing business there. There were once dozens of buildings in the area that had fallen into disrepair and public safety was such an issue back then that, according to Omar, it was not safe to be outside in the late afternoon. Check out State Theatre New Jersey to see more.

While most professionals in the real estate world would have probably left New Brunswick and run to larger markets in places like New York City, Omar Boraie believed that the face of New Brunswick could be transformed. He reportedly purchased a number of buildings that had fallen into disrepair and developed a game plan for changing things in the 1970s. Boraie has been on a roll ever since then. Today Boraie Development is involved with a new project that will result in the construction of 250 apartment units in Atlantic City. According to the trade publication Real Estate New Jersey the project will cost $81 million to complete. The new apartment complex will reportedly be a bright spot for New Jersey and Atlantic City in particular which has been feeling the strain of having its local economy contract after the closing of casinos in the area.

Reference: https://www.crunchbase.com/person/sam-boraie#/entity

Real Estate Business

Omar Boraie Proves his skills in real estate

Omar Boraie is one of the most prominent figures in New Brunswick. The businessman has done very well over the years, especially in the real estate industry. His real estate company is very popular, and it is respected for its contributions to the city. Omar is an Egyptian immigrant who relocated to the United States in search of greener pastures. When he settled in the US four decades ago, he only wanted to acquire a PhD in chemistry. However, several years later, the businessman is only interested in real estate, and he has been very successful as an entrepreneur.

According to Philly Purge, in the year 1975, New Brunswick was not popular because it was not an urban city. During these times, Johnson & Johnson chose to remain there and make it their home. Sam Boraie thought that this was the perfect opportunity for him to start purchasing plots and all the other structures that had been neglected in the city. In less than ten years, he had owned several structures, and he opened the Albany Street Plaza Tower One due to his hard work. The new building offered first class offices to the individuals living in the neighborhood. By the year 2007, the businessman was ready to open a second luxury apartment. The success of the business motivated the businessman to change the city and make it even more modern. Check out Bloomberg to know more.

The Boraie Development has been very profitable over the years. When Omar established it several years ago, many people laughed at his ideas because they thought that he was only wasting time. According to them, it was impossible to make money in the area that was abandoned and lonely. It was difficult to see anyone walking down the street past six in the evening. Most of the residents knew that the area was never going to become urban. Visit Central Jersey Working Moms.

Several years later, the residents respect Omar and his Boraie Development Company because of the numerous accomplishments it has achieved in the real estate world. The company has assisted so many individuals to acquire luxury homes. Although Omar is no longer active in the real estate firm, he has left the management of the company to his son. At the moment, the son serves as the vice president of the firm, and he too has the skills and expertise needed to make the city better. The family business has done a lot for the needy communities in the society too over the years.

See more: http://www.nytimes.com/2005/03/06/realestate/at-two-extremes-of-a-housing-market.html