Category Archives: Real Estate Development

Town Residential – An Upscale Agency

One of the largest cities in the world is New York City. The city is vastly diverse and has many neighborhoods filled with people of all backgrounds and income groups. For those looking for a property on the upper end in certain neighborhoods, Town Residential is a luxury real estate agency ready to meet all of your property needs.

 

Town Residential has been in business for five years. They are led by their founder and CEO, Andrew Heiberger. He founded Town Residential in 2010 and has been expanding his company ever since. He has assembled an elite staff that has years of experience under their belts. They are also well versed in the neighborhoods in New York City and are ready to help any client that comes through their doors.

 

Recently, Town Residential announced that they were opening an office that will be located in the meat-packing district of Manhattan. This is a highly sought after location and after much negotiation, Town was able to secure the office space. This location is also situated in the middle of many neighborhoods and will make them more accessible to their clients located nearby.

 

The office space itself will be located on the second floor. It will take up the entire 7100 sq. ft. space. There are 16-foot ceilings to add to the appeal of the space. Also included within the space is a rooftop deck and plenty of meeting rooms available to the clients and the agents. The design of the space will make it so that the area is easy to navigate and clients feel welcome and comfortable in the office.

 

The location is the biggest advantage of the new office space. There are many neighborhoods nearby that are home to many residents. For anyone looking to utilize a real estate agency, having a real estate agent nearby and easily accessible helps to speed along the home buying and selling process. Town is hoping to take advantage of that.

 

Also moving with Town Residential is Thomas & Ingram. They are a brokerage firm that does many deals with Town. Having them close by will add to their appeal to their clients. Clients can have everything they need all in one location.

 

Town Residential is an upscale real estate agency with the experience to back it up. They cater to all their client’s needs and do everything they can to please their client and find them the best property possible. Working with Town Residential will produce positive results for both the client as well as the agency itself.

 

Newark: The Rise of Residential Projects and the Economy

Commercial real estate leaders have expressed that if what Newark needs to fuel its long-awaited renaissance is critical mass, then the city is well on its way to achieving it. A group of industry insiders said the city of Newark finally has a number of simultaneous projects that will create a market, as well as provide options to prospective residents, which is something it had been missing in recent years.

Wasseem Boraie, executive vice president of Boraie Development LLC, noted the city now boasts five to ten “Class A projects” currently in the works, consisting of thousands of units. That’s a significant reversal from the past, he said, when city officials believed that one major project would realize all the potential in the city.

Boraie, whose firm is building a 168-unit residential high-rise on Rector Street expressed that residential consumers are not going to move to a huge city for a single project. Therefore what the current administration is doing now is very smart; there are going to be choices. He also said that it is a model that has worked in other cities and noted that additional choices also lead to more opportunities to invest and will attract private capital.

Wasseem Boraie is the oldest son of Omar Boraie, the founder and president of Boraie Development LLC. He graduated from the New York University – Leonard N. Stern School of Business after earning a degree in International Business and Finance in 1994; and has held his current position in the firm since January 1999.

While at the company, Wasseem has been a key part of major construction endeavors. Its 168-unit residential high-rise is part of a plan to help stimulate Newark’s economy. The same can be said about Atlantic City, where Boraie Development looked to reinvigorate a barren area and be part of a community of projects that will lead the revitalization of the city for nongaming, because every city needs a balance between commercial and residential in order to be prosperous.

Part of Wasseem Boraie’s motivation for his projects are rooted in his father, Omar Boraie, the founder of the Boraie business. He too saw himself involved in projects such as this one that saw significant growth and success in the New Brunswick area.

Of notable importance, as expressed by Richard Tucker, CEO of Tucker Development Corp., is that it is not easy to bring these sort of projects to the finish line, given that they take some time. Each of these projects can be a combination of private capital, traditional debt as well as subsidies at city and state level.

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