Omar Boraie Mints Fortunes from Dilapidated Downtown New Brunswick

Housing challenges are some of the problems associated with immigrations in most American Cities; However, Mr. Omar Boraie sees this as a golden opportunity to make money and to actively participate in the restoration of these towns.

Mr. Omar’s love for real estate was unforeseen since he had come to America to pursue a Ph.D. in Chemistry. Though he did not accomplish this mission, Omar is now a leading real estate development mogul with many development projects in New Jersey, Newark and Atlanta city.

Omar’s foresight has helped him create a real estate empire for himself, and he optimized the decision by Johnson and Johnson’s Pharmaceutical to stay in New Brunswick in 1975. He acquired old and neglected parcels in downtown Albany Street and transformed them into luxurious apartments and commercial buildings.

In 1988, Mr. Omar put up the Albany Street Plaza tower one just to test the market reception to high-end buildings in the downtrodden areas of New Brunswick. The reaction was terrific with building space selling out in less than two months. In 2007, Omar Boraie later constructed the second Tower, which received a similar reception; the building is located directly opposite the New Brunswick Train Station and has 250,000 square feet of leasing.

Read more: Boraie Development LLC Opens Leasing Center in New Brunswick, New Jersey

Through his company Boraie Development LLC, he has built one of the biggest luxury apartments on Albany Street, The Aspire. It is a 280-unit studio luxurious apartment block on about.me; the building comes with a community kitchen, adequate parking, fitness center and a rooftop patio.

Always on the lookout for lucrative deals, he has worked with other developers such New Brunswick Development Company (Devco) in restoring the architectural beauty of the town on nytimes.com. In all his major developments, Mr. Omar is a beneficiary of incentives of EDA’s Urban Transit Hub as well as several millions in tax credits.

Mr. Omar is the current president of Boraie Development LLC; a firm he founded over 30 years ago he runs it together with his son Mr. Wasseem Boraie, who is the company’s Vice President.

He recently pledged $1.5 million to Rutgers Cancer Institute of New Jersey. He also gives generously to health care institutions. Together with NBA’s former star Shaquille O’Neill, they raised funds to reopen an Atlantics City Boys and Girls summer camp hall.