Sam Boraie is the vice president of operations for Boraie Development, https://www.bloomberg.com/profiles/companies/0601263D:US-boraie-development-llc, one of the East Coast’s most prominent and innovative real estate development firms. Sam Boraie has long held the philosophy that the best opportunities can be found where others have irrational fears of going. This has led to some spectacular successes over the years. But it has also ensured a steady chorus of naysayers who view the firm’s more daring projects as exercises in futility at best, insanity at worst.
Teaching the critics a lesson
But none of this has ever bothered Sam Boraie in the least. His firm’s track record of almost single-handedly transforming New Brunswick, New Jersey from a hellish ghetto into a cutting-edge, luxury refuge for the hip speaks far louder than any critic’s impotent bleating.
Now, Boraie has set his sights on an even bigger challenge. In a report by PR News, he has started construction on what will be Newark, New Jersey’s first high rise building since 1962. One Riverview will be a 23-story, 311 foot postmodern monolith of steel and glass. The structure will make heavy use of the existing structure on the site, a 1920s malting factory that’s a pristine example of that era’s industrial Art-Deco architectural style. Make no mistake, One Riverview will be a world-class luxury residential tower that would be right at home on the Upper East Side, Miami Beach or the San Francisco waterfront.
The project has left many observers scratching their heads and many more questioning how anyone could make such a risky bet. Normally, such people would have a strong point. But Sam Boraie is one of the few developers in the country who has the track record and expertise to prove that these types of projects can not only turn out to be profitable for the owners, but they can ultimately transform entire cities.
And Boraie is not to be underestimated. Always coy, he’s not one to reveal that he’s thinking 10 moves ahead or even that he’s engaged in a chess match at all. But given other Boraie Developments, it’s very safe to assume that One Riverview, far from being Boraie’s end game in Newark, is only his opening move.
For moreinfo, check out Sam Boraie’s crunchbase page.