In early 1970s, Omar Boraie approached potential investors with a great vision. He wanted to transform New Brunswick by constructing high rise residential and commercial units. They immediately thought he was crazy. Mr. Boraie proved them wrong by transforming New Brunswick into the gem it is today.
Downtown New Brunswick was often looked down upon as a potential area to invest. Economic progress was slow and many of its commercial buildings were listed for demolition. In short, the town was an economic ghost town.
However, Omar Boraie saw downtown New Brunswick as a gem. Omar came to the USA as an Egyptian immigrant following his dream of real estate investment. He has a knack of identifying markets that many investors overlook. Mr. Boraie realized that many of the corporate professions stationed in New Brunswick lacked decent office space. Right there, the budding real estate developer knew what he had to do. Check out Bloomberg to know more.
Omar Boraie launched his real estate company, Boraie Development, in early 1970s. He then proceeded to buy 21 dilapidating buildings with an idea of renovating them. Through hard work, often running short of funds, he managed to renovate the first building located on Albany Street. He named this building Tower One.
Tower One converted into a high-rise business center with plenty of office space. His first clients were doctors, lawyers, teachers, firemen, policemen and business professionals. After the success of Tower One, Omar Boraie proceeded to renovate his second building which he renamed Tower Two. This new edifice stood next to the first one.
According to Rutgers, today New Brunswick stands out as a decently developed town that targets the younger trendy professionals. One of Omar Boraie’s greatest achievements is the completion of sophisticated Aspire Apartment Units. A one-bedroom apartment in this complex would fetch $1800 per month in rent. A studio apartment in the same building would go for $1650 per month in rent.
Omar Boraie has a mission to transform New Brunswick. Today, he stands at the 8th floor of his office in Tower One enjoying the beauty of the new town he has created.
About Boraie Development
According to NY Times, Boraie Development is based in New Brunswick, New Jersey. Under the leadership of Omar Boraie, the real estate firm develops complex office and residential units for the high rise market.
Boraie Development began developing New Brunswick back in 1972. The completion of the Tower One building marked the first introduction of Class A office units in New Brunswick. Today Boraie Development boasts of completing several high end real estate projects, including a 25 business unit with over 121 business spaces.
Posted in: Real Estate Business