In 2013, Town Residential an office to cover markets from Hudson Yards to Tribeca. Set up in the meatpacking district, this was the tenth outpost the company has erected since being founded in 2010. It was founded at that time by Andrew Heiberger. The new office was a lease of the entire 7,100-square foot second floor of the office building on 446 W. 14th St. This space was designed specifically for brokers, with much space for brokers to work and meet clients. In addition to the ample floor space, there are 16-foot ceilings and access to the building’s private roof deck.
The lease agreement is a 15-year deal. In taking up the offices, the branch partnered with Thomas & Ingram a brokerage firm that concentrates on deals in the West Village. T & I moved with the new Town Residential branch into the new offices. They established this new office at a very good time, just as the area was experiencing a huge burst of growth. The office sits smack dab in the center of all of this growth. The rent of the space has not been disclosed, but it is probably pretty high considering the high demand of space in this area and the very nice accommodations.
Fortunately for Town Residential, one its parent investor is Thor Equities who owns more retail space than just about anyone in New York. This connection enabled Town Residential to obtain these highly coveted offices. The following year things changed at Town Residential when founder Heiberger stepped down as its CEO to focus on broader business-development issues. Back in 2011 Heiberger had signed a three-year contract with the company which they chose not to renew at this time. Town Residential was not Heiberger’s first company to found.
Several years earlier he had founded the hugely successful rental agency, Citi Habitats. Although there was a bit of a shakeup in Town Residential offices with Heiberger’s departure from the office of CEO, things soon got back to normal. The leadership and investors of Town Residential remain incredibly optimistic about its future in the New York area.
Omar Boraie is the visionary patriarch and president of Boraie Development LLC. The 73 year old entrepreneur and real estate mogul is considered a town hero in the up and coming community of New Brunswick, New Jersey. Through hard work, persistence, and an exemplary vision, Boraie has managed to transform the heart of a once dilapidated city into a thriving metropolis and business mecca.
Boraie first discovered the idea for the development project on boraierealty.com while studying abroad in Europe as a chemistry student. Boraie was fascinated by the close-knit communities in Europe and the way the most run-down areas seemed to be rejuvenated through commercial build-outs. Shortly after his trip, he began to pitch his vision to locals. The local government scoffed at Boraie’s idea to rebuild a dying New Brunswick. Not only did it seem like a risky and impossible project on cinj.org, but Boraie had a science background and was not yet an established businessman. In addition, the history of the city made the idea difficult to comprehend.
Read more: Explainer: How Downtown New Brunswick Has Emerged from Its Doldrums
The critics did not stop Boraie from pursuing his dream. He began to buy the vacated buildings on Albany Street and developed them into prime time office space. This change provided a refreshing perspective to the New Brunswick citizens. Boraie realized that continued growth would only come with the addition of more retail and residential spaces on boraie.com. In 2007, his team completed a 21 story mixed use condominium style building that sold out all 121 residential units in just a few short months.
Looking forward, Omar Boraie sees a bright future for New Brunswick and plans to continue to develop the area. He has plans for adding several more mixed use buildings as well as landscape and glamour additions to provide some aesthetics to the area. Ultimately, the goal is to make New Brunswick an area where young and successful people feel they can stay for the long-term.
While Boraie’s primary contributions lie in development, he also contributes in many other ways. Most recently he was named Chair in Genomic Science at Rutgers. This honor takes him back to his science-minded roots and is considered the gold standard in higher education. Boraie donates to the foundation in support of continuing cancer research and has been highly recognized for his generosity.
Overall Omar Boraie is a phenomenal businessman, visionary, and philanthropist. His efforts have made a huge impact in the city of New Brunswick and his contributions will be felt and admired for many years to come.