Boraie Development: Developing New Jersey Real Estate For 40 Years
New Jersey is now at the real estate crisis in the United States’ epicenter. A Philly Purge article pointed out that when it comes to states with foreclosures and extremely delinquent mortgages, New Jersey record is among the worst. What’s befuddling is lots of new houses are being built and sold, few older homes are hitting the market, home prices are rising, unemployment is falling and there is a housing shortage. But soon thousands of houses will hit the market and cause a glut. However, interest rates on mortgages are rising and homeowners are waiting for home prices to rise before selling creating a tight market.
Even though New Jersey’s real estate market has been fractured ever since the Great Recession ended, it’s an exciting time in New Jersey real estate. There is an incredibly high housing demand in some towns coupled with excellent inventories. Plus, a new development is changing the market for houses. There are thousands of amazing new apartments now available in many towns and cities in New Jersey. And these apartments are mere minutes from New Jersey Transit stations. These apartments are increasingly attractive to many prospective homebuyers and could offer a viable solution to New Jersey’s housing shortage.
One of the companies that is building spectacular apartment homes in New Jersey is Boraie Development. Omar Boraie, an Egyptian immigrant, founded the company over 40 years ago. This visionary real estate developer started snapping up real estate in New Brunswick and predicting a bright future for the city, while others only saw doom and gloom. Boraie surprised even city officials with his commitment to redeveloping many burnt out, abandoned properties. Not only did Boraie Development build apartment homes, he created Class A commercial space as well. He envisioned new businesses coming into the city and bringing young professionals and their families with them. Check out his website boraie.com
Boraie Development built a 25-story condominium building with 121 top-flight residential units, retail space in excess of 10,000 square feet and 40,000 square feet of top-of-the-line office space. Its parking garage holds 400 cars and there’s lots of greenspace. People called him nuts. Within two months all the condos were sold. Then came the 17-story, 370,000-squre-foot development called The Aspire. It featured 238 luxurious residential units and retail space in excess of 10,000 square feet. Since then, Boraie Development has built a long list of stupendous real estate developments all over New Jersey.
Click here: http://www.boraie.com/company/