New Brunswick, NJ at one time was seen as the place in Jersey where everyone wanted to leave and nobody was likely to settle in. But today public perception of it is changing and various urban planners and investors are seeing it as a strategic location for workers commuting across the river into Manhattan as well as others looking to be near office space in New Brunswick. That was thinking behind Boraie Development’s project The Aspire, an 18-story housing complex that has been leased by hundreds of these commuting workers. Best of all, Boraie Development has put in first class amenities at this property that have helped make it attractive to very young tenants and made it more accommodating for long-term housing needs. Boraie Development’s portfolio has many other commercial and residential properties like this. For more details visit Crunchbase.
Boraie Development has been a family-owned real estate investment firm that seems to believe in making returns in markets where most experts would advise to stay clear of. The founder, Sam Boraie showed he was not going to stick to his real estate investment goals right from the get go when he began buying properties in the Albany Street area of the city, a section of it that was mostly abandoned and even deemed unsafe to be in after dark. But city leaders became shocked when Boraie’s buildings started rising in what’s now a regular plaza occupied by two 8-story buildings.
Prior to the beginning of The Aspire, Boraie Development brought the idea of high rise housing when they announced a plan for One Spring Street. The reason most city experts thought this project would fail to get a return on investment was because high rises had been largely ignored by previous property management companies and contractors, and they thought the demand for that housing was non-existent in New Brunswick. But Boraie Development proved critics wrong once again when One Spring Street became occupied in less than two months. For more details visit boraie.com
Sam Boraie has somewhat stepped down to allow his sons Wasseem and Sam to run Boraie Development today, but he was honored for his contributions to Rutgers University with a special Omar Boraie Chair at their Genomic Research Department. The company has also had some notable partners who’ve contributed to funding building projects in Newark, including NBA legend Shaquille O’Neal who announced he would be buying apartment space in the new One Rector Street property this last Spring.
Click here: http://www.boraie.com/company/