Boraie Development LLC are real estate developers in New Jersey. They have been managing and marketing urban properties for many years now. Sam Boraie and Omar Boraie lead the firm and are responsible for its spectacular success. The phillypurge.com site recently mentioned how Boraie development was transforming the architecture of the New Brunswick area through their ambitious projects.
According to Patch, New Brunswick has been an underdeveloped area regarding real estate. It was home to low-value tenants. Recently, it has caught the eye of property developers because of increase in jobs in the New Jersey area and its favorable location near the train station.
Sam Boraie saw a utopia of high rise apartments in New Brunswick, where others only saw a desolate landscape. The website njbiz.com recently reported on Omar Boraie’s successful real estate venture in New Brunswick area of New Jersey. His latest development has been a multi-storeyed building on Somerset Street of New Brunswick. In 1972, New Brunswick was an isolated and deserted locality, with very few takers. Omar Boraie envisioned a development project there and rapidly bought 21 empty shops in the area. Albany Street Tower One was one of the first multi-level office building constructed on the street which transformed the architecture of New Brunswick. It was built on a sprawling 25,000 square feet area. This was soon followed by Tower Two, which created even more offices for hire and buying in the year 2003. For more details visit Crunchbase.
Omar Boraie’s vision for developing residential apartments led to the acquisition of One Spring Street Condominium. It was inaugurated in 2007. It is a spectacular high-rise building with 25 levels, 121 apartments, office space covering 40,000 square feet, with an area of 10,000 square feet dedicated to retail and garages to accommodate 400 vehicles. It is a landmark building of New Brunswick, being the tallest construction in the area.
The Aspire is the next big venture that boasts of 17 levels, 238 apartments, and multi-level parking. It also has a whopping 10,000 square feet area for retail. The tenants looking for an apartment in New Brunswick now include professionals such as doctors, nurses, teachers, law enforcers and many others. An apartment at The Aspire is rented out for 2,800 dollars monthly and has become a much-sought-after property. Wasseem Boraie, Vice President of Boraie Development, has said that the construction of The Aspire has been possible only because of the Urban Transit Hub Program of the EDA, which channeled 23.8 million dollars of incentives into the project.