Boraie Development LLC was founded by Omar Boraie, an entrepreneur in real estate based in New Brunswick, New Jersey. Boraie is an Egyptian immigrant who arrived in New Brunswick over 40 years ago to study for his Ph.D. in Chemistry, before diversifying to real estate. He has constructed a New York City-style tower along One Spring Street downtown, with magnificent apartments.
The architect on boraierealty.com that worked on it is the famous Costas Kondylis & Partners. He is well known for establishing great structures in New York City, and particularly the Donald Trump structures.
In 1985, Omar Boraie built a two-tower commercial building at 120 Albany Street near the corner of Spring Street, and “it was still sort of a gamble,” he said. Only the enduring presence of the pharmaceutical giant Johnson & Johnson, whose headquarters are across Albany Street, allowed him to make the leap of faith, Mr. Boraie said.
Boraie Development Ventures in New Territories
Mr. Boraei started his construction business when the New Brunswick was devoid of tower building on cinj.org. Today, he can stand at a window in the hallway of 120-Albany Street and view an array of commercial buildings he owns and monitor the progress of the 25-storey residential building under construction.
The apartments will carry 120 one bed roomed, two bed roomed and three bed roomed units with full balconies and floor-t-ceiling windows.
The apartment tower will house a fitness center, glass enclosed swimming pool, community garden, 7-storey garage with 425 parking lots and a roof garden.
Boraie Provides Low-Cost Housing Alternatives
A state court made a decision on the lack of affordable housing in Mount Laurel town on boraie.com. Alternatively, they can trade the obligation for monetary contributions towards state fund that will enable subsidized housing rates.
Boraie Development was the first to adhere to this directive by taking up underutilized or neglected parcels of land along Albany Street and turning them into high-class structures.
Since opening the first Albany Streets class office space structure in 1988, Boraie has never looked back. In 2003, the Albany Street Plaza Tower was unveiled followed by the One Spring Street condominium in 2007.
Within the next 12 to 18 months, Boraie is planning to break grounds for the third commercial site, next to the train station, along Albany Street. He’s keen on attracting biological science and innovative tech firms that can take advantage of the proximity to Rutgers.