Omar Boraie arrived in the United States from Egypt keen to get a Chemistry Ph.D. He then saw the potential that New Brunswick held in terms of Real estate. Johnson and Johnson had just decided to stay in the city and Mr. Boraie saw the opportunity to provide the employees of Johnson and Johnson with proper housing. Back then that side of New Brunswick was not safe to be around in past 4 pm.
The Boraie journey
Starting out in the late 1980’s up to early 90’s with twenty-one run down empty apartments that he had steadily bought off, Mr. Boraie turned the apartments into 250000 square feet Class A office spacing. These apartments are what is currently referred to as Tower One along Albany Street. He was to later put up Tower Two next to Tower One.
Condominium and Aspire
He then put up a condominium in a part of New Brunswick that no one thought suitable for such a 25 story building. He named it One Spring. One Spring has 121 residential units having floor to ceiling windows and balconies. 4,000 feet has been left for office spacing. It also has a garage that can park 400 cars. The retail space has been allocated 10,000 square feet. Other features include space to stroll dogs and outdoor barbeque. Boraie, through his company Boraie LLC then put up Aspire, which offers luxury housing to young professionals. It has 238 residential houses with a Yoga center. There is also 10,000 space for offices. Check out Press of Atlantic City to see more.
Boraie Development LLC
According to NY Times, founded in 1986 by Omar Boraie, the company deals with the development of real estate. The company develops and manages properties. Through Boraie Realty services, the company runs property sales and marketing business. So far the company has managed sales of about $150 million. Under property management, the company does leasing, customer services, marketing, maintenance and administration of property.
Beach at the South inlet
This is a new project by Boraie development in Atlantic City. It is also Atlantic’s first development that is market rated in a quarter century. The complex, costing about $81 million is bounded by four avenues (Atlantic, New Jersey, Connecticut and Pacific). Upon completion, it is expected to serve 50,000 within the resort town with 250 apartments it will contain. This is welcome news to a city that has been grappling with the closing down of its many Casinos due to competition from neighboring States. You can search on Yahoo to see more.