Category Archives: Real Estate

Chinese Buyers Increase Real Estate Purchases in New York City

The Real Deal Magazine featured an article by Hiten Samtani titled, “Chinese are spreading their wings in NYC, resi experts say at TDR Shanghai forum,” which can be found at http://therealdeal.com/blog/2015/09/12/chinese-are-spreading-their-wings-in-nyc-resi-experts-say/. The Real Deal Magazine covers real estate news in NYC and it recently held its first ever real estate showcase and forum in Shanghai. This article talks about Chinese buyers increasing their residential investment purchases in NYC and presents several influential NYC real estate brokers and developers who explain why this is happening. They talk about how NYC apartments for rent on townrealestate is safe for a big city and developers are building incredible properties creating an environment where there is a constant demand from buyers.

One of the panelist in this forum was TOWN Residential CEO Andrew Heiberger. TOWN Residential was founded in 2010, has ten offices located throughout NYC and recently formed a partnership with the Miami based real estate firm Fortune international. TOWN focuses on marketing, selling and leasing high-end luxury residential properties and property developments. Mr. Heiberger says Chinese buyers are sensitive to real estate prices and typically look for properties that are in the range of $800 million to $2 million. He went on to say that the Real Estate Board of New York and the New York Attorney General’s Office highly regulate NYC brokerages making them more transparent so that consumers can be highly protected.

The panelist at the forum, which included brokers and developers such as Fredrik Eklund, Miki Naftali, Jonathan Simon, Stephen Kliegerman as well as Andrew Heiberger went on to explain how it can be difficult for foreigners to get financing to purchase real estate in NYC, so it helps if they come in with a lot of cash reserves. Currently many Chinese buyers are looking at properties in other parts of NYC outside of Manhattan as well as Harlem and Brooklyn. The panelist seemed to be satisfied with the current real estate market in NYC and even described what their dream home would be in the NYC.

Boraie Development LLC continues to thrive in the state of New Jersey

Founded by Omar Boraie, Boraie Development LLC continues to thrive with much success. However, entering real estate wasn’t of much an interest to the Egyptian immigrant. Boraie came to the United States, New Brunswick, New Jersey to be exact, to earn his Ph. D in Chemistry, but later came to realize that the real estate market was his ultimate calling. Boraie has his own real estate business called Boraie Development LLC which focuses on real estate development, sales, marketing, and property management. Boraie Development LLC forte is to only work with the strongest financial institutions, architects with vision and contractors who understand deadlines. Boraie Development LLC works to maintain their vision, capital and reliability to every project. Maintaining a track record for 30 years, Boraie Development has been known to be a developer most people want especially the state of New Jersey. Boraie Development LLC is all about the long term ownership commitment that has been used to attract residents, financial partners and tenants.

Their property management function includes: maintenance, leasing, administration, marketing, customer service and accounting. Boraie Realty subsidiary has sold over 150 million in commercial and residential transactions. Their investment process consists of four core pillars which include: supply and demand characteristics the team sees as rewarding or a risk. Dedication of civic leadership to revitalization of distressed areas is number two. Next is the ability to allow for purchase of scale across assets. Last is the urban market determined to have positive growth factors. Boraie Development even sparked the interest of retired NBA player, Shaquille O’Neal who partnered with the real estate development in 2014. He gave 25,000 to help the community of Atlantic City by reopening the Boys and Girls Club for their 2014 summer program. Boraie Development continues to be a success in the state of New Jersey. Boraie Development is committed to completing many more projects in the future.