Boraie Development

What Boraie Development does

Boraie Development LLC is a privately held, family-owned real estate development company headquartered at 120 Albany Street in New Brunswick, New Jersey, founded in 1972 by Egyptian-born Omar Boraie. The company develops, constructs, and operates residential and commercial properties in three New Jersey urban markets: New Brunswick (Albany Street Plaza, One Spring Street, The Aspire), Newark (50 Rector Park, Iconiq 777, 930 McCarter Highway), and Atlantic City (600 NoBe, M Residences with MGM Resorts). Its portfolio comprises seven named developments encompassing luxury high-rise condominiums, market-rate and mixed-income rental apartments, and Class A office space, with notable civic-leadership projects including Newark's first high-rise built in over 50 years and Atlantic City's first market-rate housing in decades. There is no proprietary technology platform; the company operates as a traditional developer using direct sales (condominium units priced $350K–$500K+) and direct leasing (apartments from $1,800/month), with a partnership-driven growth model including co-development with MGM Resorts and a celebrity-investor relationship with Shaquille O'Neal.

The company's revenue model combines one-time real estate development sales with recurring rental and commercial leasing income. Distribution is direct-to-end-user via company-managed sales/leasing processes supported by a corporate website (boraie.com), earned media in regional outlets (ROI-NJ, NJ Biz, Wall Street Journal), and local PR around groundbreakings. Customer segments are diversified across urban professionals, mixed-income residents, and corporate office tenants near major employers such as Johnson & Johnson and Rutgers University. Strategic relationships include financial and implementation partners — Shaquille O'Neal as investor, MGM Resorts International as JV partner, and AECOM's Tishman Construction as implementation partner — alongside multi-generational family leadership (Omar Boraie, Chairman; Wasseem Boraie and Sam Boraie, VPs). Recent awards include ROI-NJ Power List 2025 and ROI Real Estate Icons 2021, reflecting regional but not national brand prominence.

Name

Boraie Development

Legal name

Boraie Development LLC

Website

https://boraie.com

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

51–100 employees

Short description

Boraie Development LLC is a family-owned New Jersey real estate developer founded in 1972, building luxury, mixed-income, and Class A office properties across New Brunswick, Newark, and Atlantic City for urban professionals, mixed-income residents, and corporate tenants.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (23611), Land Subdivision (23721), Nonresidential Building Construction (2362), Commercial and Institutional Building Construction (236220)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Spec Home / Production Homebuilding (Tract & Volume Builders) (IMAFABAD)

Keywords

• Urban real estate development
• Mixed-income housing
• Luxury high-rise apartments
• Commercial property leasing
• Urban revitalization projects

Headquarters

HQ city

New Brunswick

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Real Estate Development and Sales: Boraie Development generates revenue through the development, construction, and sale of residential and commercial properties. This includes luxury condominiums, market-rate apartments, mixed-income housing, and Class A office space across New Jersey urban centers.
2. Property Leasing: The company generates recurring revenue through leasing residential units (studios, one-bedroom, two-bedroom apartments) and commercial office/retail space in their developed properties.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Boraie Development is a New Jersey-based real estate developer that acquires, develops, constructs, and operates residential and commercial properties in urban centers. Its core products are large-scale mixed-use developments, including luxury high-rise condominiums, market-rate and mixed-income apartments, and Class A office space, sold or leased directly to end-users across New Brunswick, Newark, and Atlantic City.

Product overview

Boraie Development is a New Jersey-based real estate development company that creates visionary communities in urban centers. The company's portfolio consists of residential and commercial real estate developments across New Jersey, including luxury high-rise apartments, mixed-income housing, and Class A office space. Their product portfolio includes seven major developments: Iconiq 777 and 930 McCarter Highway in Newark, The Aspire and One Spring Street in New Brunswick, 600 NoBe in Atlantic City, and Albany Street Plaza commercial complex. The company also partnered with Shaquille O'Neal on Newark developments and has a joint venture with MGM Resorts for the M Residences project in Atlantic City.

Differentiator

Problem solved

Functional benefit

Products and services

• Iconiq 777

Quantifiable outcome

• Albany Street Plaza spurred over $2 billion in subsequent development in New Brunswick
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• MGM Resorts InternationalcoreStrategic or Co-development Partner · 1 May 2019MGM Resorts International partnered with Boraie Development to explore a residential development project known as 'M Residences' on land owned by MGM in Atlantic City's Marina District. The land was previously targeted for casino development. This represents a significant strategic partnership for Boraie's expansion into Atlantic City market-rate housing.
• AECOM's Tishman ConstructionminorImplementation/ SI/ Consulting PartnerAECOM's Tishman Construction was managing the construction of Somerset Mews, a residential tower project in New Jersey developed by Boraie Development.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• The Michaels Organization: Family-owned New Jersey-based residential developer focused on urban and mixed-income housing, with a similar scale and product mix to Boraie, including both market-rate and affordable/mixed-income developments in the Mid-Atlantic.
• Russo Development: New Jersey-based real estate developer with a portfolio of mixed-use, urban redevelopment, and residential projects in NJ cities, directly comparable to Boraie's urban revitalization focus and geographic concentration.
• Ironstate Development: Jersey City-based urban developer of mixed-use, market-rate, and mixed-income residential properties along the Northeast Corridor, with a similar urban revitalization and luxury apartment/condo model to Boraie.
• Two Trees Management: Brooklyn-based mixed-use developer renowned for pioneering urban revitalization (notably DUMBO), with a comparable model of building residential and commercial product in legacy urban markets — a closely analogous thesis to Boraie's NJ playbook.
• Extell Development: New York City-based luxury residential and mixed-use developer known for high-rise urban product, directly comparable to Boraie's luxury high-rise apartment and condo projects in core Northeast urban submarkets.

Broad incumbents

• K. Hovnanian Homes: Long-established, publicly traded homebuilder headquartered in New Jersey with significant operations across the state, providing a broad incumbent comparison point for residential development capacity in the same regional market as Boraie.
• Toll Brothers: National luxury homebuilder with a substantial New Jersey footprint and similar exposure to affluent urban and suburban buyers, offering a broader incumbent benchmark for Boraie's luxury residential product.
• AvalonBay Communities: Public multifamily REIT with a major New Jersey apartment portfolio, comparable as a large, institutionalized owner/operator of Class A urban rental housing in the same Northeast markets Boraie targets.
• Related Companies: Major national urban real estate developer (notably Hudson Yards and large mixed-use projects), broadly comparable as a much larger incumbent pursuing large-scale, mixed-use urban development in gateway markets.
• Brookfield Properties: Large institutional owner/developer of office, multifamily, and mixed-use urban real estate across the U.S., comparable as a broad incumbent with significant urban office and residential exposure similar to Boraie's Albany Street Plaza and residential portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/boraiedev
• Facebookfacebook.com/boraiedev
• LinkedInlinkedin.com/company/boraie-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boraie Development