Archive for the ‘Real Estate Business’ Category

Omar Boraie and his Vision for New Brunswick

Tuesday, June 27th, 2017

I came across a blog post on the Central Jersey Working Moms website that painted a vivid picture of how New Brunswick was like in the 1970s. New Brunswick would turn into a ghost town after 4 p.m. as everyone left work and headed to their residential suburbs. However, one man had the vision to transform this downtown area into a decent residential and commercial hub.

Omar Boraie founded Boraie Development LLC in the 1980s after seeing an opportunity where others saw a wasteland. In the late 1970s, people and businesses were deserting the area due to plummeting property values and a rising immigrant population. Boraie chose to buy the properties that had been neglected by fleeing property owners on Albany Street. After he had bought enough properties to fit his vision, he revealed his plan to the city. They all thought he was crazy. In 1988 Boraie Development opened its first commercial building on the street, the Albany Street Plaza Tower One. This building attracted high-class businesses, and the offices were rented out to a variety of professional companies. The success of this real estate development led Boraie to follow it up with Albany Street Plaza Tower Two. You can visit Bloomberg to know more.

The rising number of professionals who worked in the city provided a potential market for high-class residential buildings in the city. Boraie Development jumped on this opportunity, and in 2007, the company opened the One Spring Street condominium which was meant to house some of the many workers that occupied its office towers during the day. Despite the renewed critics who were convinced that the project would fail, the One Spring Street Condominium took just two months after its opening to sell out.

Boraie Development LLC has continued to invest in various visionary real estate projects in New Brunswick. Its latest installment, The Aspire, is a luxury ultra-modern residential apartment that is located near the New Brunswick train station. The tower is 17 stories high and rents studio, one, and two bedroomed apartments. This development adds to the already decorated portfolio of Boraie Development. The company’s founder, however, attributes the transformation of New Brunswick to other companies that held the same vision as he did. Certainly, the decision by the Johnson & Johnson to remain in the city while others were leaving influenced Boraie and other real estate developers to invest in the city. All in all, it seems like Boraie Development LLC is going to continue coloring the skyline of New Brunswick.

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

Arthur Becker’s Venture In Real Estate

Monday, February 6th, 2017

Arthur Becker is a tech investor who has made a foray into real estate. He initially served as CEO of Zinio LLC. He is well recognized to be one of the co-founders of Atlantic Investors, LLC. According to NY Mag, he served as president of Navisie inc. from 2003 to 2010. Becker was a senior advisor at the Vera Wang fashion company for seven years and has since become a private investor in real estate and technology. Arthur Becker has an excellent ability to find profitable investment opportunities. Although regarded as the tech mogul, it is in his real estate involvement that has put him among the top investors in New York.

In a report by therealdeal.com, Arthur Becker recently acquired a worthwhile investment at the Suvillan Street in New York City. He now owns three elegant and strategically placed townhouses. He traded his stake in the 16 story boat shaped condo development for these town homes. They are 30,40 and 50 block of the same building, and Becker is very much pleased with his acquisition as he may use them as he pleases. Although the townhouses were not complete at the time of purchase, Becker said that he would even take one for himself upon completion. As for the other two, he plans on leasing or even selling them.

These town homes acquired by Becker are among the four homes that Madison Equities and the Property Markets Group developed. Arthur Becker seemed to have landed the better part of the deal when he completed the ownership of these properties in exchange for his state in the new development that these two companies are involved in. It is estimated that the value of these assets will hugely increase once they are completed mostly due to their strategic positions.

In addition to the 10 Sullivan Street investment, Arthur Becker also invested alongside JDS Development Group, AmBase Corp. at 111 West 57th Street and Property Markets Group. This venture at the Suvillan street feels more stable for Becker and is aggressively making a move into the real estate as it is widely perceived to have more stability in the business world.

Read More: http://www.nydailynews.com/life-style/real-estate/vera-wang-wealthy-nabs-30k-month-union-sq-rental-article-1.2244221