According to an article published on Realty Today, New Jersey Real Estate is still recovering from the slumber that was witnessed back in 2006. Residents of New Jersey are still not willing to list their properties on the market because there is a possibility of price undercut due to presence of mortgages in the market; however, the future is bright for New Jersey real estate because it’s expected to bloom.
This new project by Boraie Development will eventually transform New Brunswink because they have already had overwhelming response from potential renters across the city. The apartments have all features you would need in a residential area such as; cool design, 24/7 doorman, a fitness and yoga center and onsite parking.
Another building that brought the city much needed Class A office space is Albany Street plaza Tower Two that was completed in 2003, added more office space to the city. The tallest building in the city is twenty-five stories with 121 residential units, office and retail spaces as well as 400-space parking garage. The building was sold out in two months and people were surprised that such a building was built in New Brunswick.
Omar feels that luxury accommodations will bring more professionals back in to the city. People like doctors, teachers, nurses, professors would enjoy the facilities offered in New Brunswink. The units on offer are targeted by individuals as well as companies employing them. Omar is still focusing on a new project Albany Street Tower Three-a commercial and residential building. He would be very happy to see more office and commercial users in this city.
These major developments that have been initiated by Boraie Development LLC, Johnson & Johnson, Rutgers, medical school and expanding hospitals will eventually upswing the price of NJ real estate. The use of modern technology especially marketing and advertisement through social media and other online sites will play important role of ensuring the slumber is over and investors can reap huge benefits from NJ real estate.