According to a report released on the New Jersey Spotlight, New Brunswick was faced with similar challenges like many cities in the U.S. in the last ten years of the past century, despite serving as a major city of Middlesex County and also hosting the Rutgers University main campus. Unlike other old urban towns, New Brunswick rebounded back in the early 80s, although the progress has been at slow pace. Downtown area of New Brunswick boasts to have major restaurants and entertainment joints, but there are many low-rent houses available.
Today, several stakeholders in the real estate industry in New Brunswick including public institutions and private companies are redrawing the landscape of this area so that it can fit into the modern day needs. One of the major development projects underway is the construction of The Aspire, a 17-storey privately developed residential building. It is an addition of more luxury units in New Brunswick area. It is located adjacent to the train station which commutes to New York City. Tenants of two-bedroom apartments are charged up to $2,800 per month. The building has been developed by Boraie Development LLC.
According to Vice President of Boraie Development, Wasseem Boraie, the office space of the building began leasing late November, and a good number of potential renters had shown interests. He credits the stability in this city to the fact that Rutgers University was included among the Big 10 learning institutions for its ability to progress in the medical research and education. Residents of New Brunswick are searching for more features and options when deciding on the apartments of their choice, a condition that didn’t exist 15 years ago.
About Boraie Development LLC
Boraie Development is a real estate firm based in New Brunswick. Recently, the firm completed development of a new luxury residential apartment which is located at the center of New Brunswick, that is available for renting. The Director of Marketing at the company said that increase in population in this city has led to upscale of luxury apartment.
Tenants of The Aspire are allowed to use online systems to pay for their rents. In addition, they are updated whenever there is an event happening in the locality. Studio apartments are offered at $1,650, one-bedroom at $1,800 while two-bedroom apartments are offered at $2,700 p.m., all available with balcony and private terrace.
Mayor Rahm Emanuel’s property tax is set to begin next year, changing the real estate market for Halsted and Division streets, the very center of Chicago’s hottest piece of property. This neighborhood has also seen a hike in tax assessments by 48% this year. It is anyone’s guess as to how realtor’s will deal with inflated pricing, as residents are likely to still enjoy the premier section of the city. It is clear that some may migrate due the increasingly rising expenses within the area.
This news comes as a surprise to those in the finance industry who believe this to be biggest average increase in residential property values in the Cook County recently completed reassessment. This also comes on the heels of Emanuel’s higher tax rate proposal, being approved in late October. It seems as a disadvantageous time for homeowners who reside near the CTA’s North and Clybourn Red Line stop, known in the assessor’s parlance as North Township 013.
Chicago has been prime property for those looking to start a new business. It is also a hub for consulting experts in marketing and business. On of these trusted business leaders, Majeed Ekbal, lives and works in Chicago, and has seen the fluctuating state of real estate up close. Over the years he has also gained practical experience in the business and marketing industries within Chicago. Specializing in SEO analytics, brand awareness, planning implementation, relationship management, digital marketing, business development, healthcare marketing, in addition to social media marketing and e-commerce development Ekbal uses all of these tools in his real estate business.
It will take business polymaths like Ekbal to make this transition period tolerable. His ability to develop successful marketing strategies that implement innovative business ideas has impressed many Chicago real estate specialist over the year. Comparing the Chicago real estate market to that of New York, one would be making an apt comparison, and using the marketing model of many a New York up and coming trendy neighborhood, business men like Majeed Ekbal can make sure that new and creative marketing, communication, and training strategies keep Chicago real estate thriving.
In New York City the real estate market is never truly at rest. While some parts of the country will go on hiatus during the winter months, or falter when the real estate market starts to crash, New York is seemingly always in demand. New York City is one of the most popular large cities on the planet and there is good reason for that. The first ever United States Real Estate Showcase in Shanghai, as reported by The Real Deal, made sure to discuss how New York City fit into the plans of Chinese buyers during a panel that showcased some of the biggest brokers in the city.
Miki Naftali, CEO of Naftali Group, kicked off a panel discussion during the Forum by talking about what makes NYC apartments for rent on townrealestate so special to the real estate market. He was joined by Fredrik Eklund, reality star, Stuart Elliot, Andrew Heiberger, Jonathan Simon and Steve Kligerman. They all chipped in during the prolonged discussion, navigating between topics relating to their career and even venturing out into some personal discussions on what their dream home in the city would be.
Naftali pointed out that New York City is always in demand when it comes to real estate and Eklund, star of “Million Dollar Listing: New York”, tacked on a discussion about the prestige that NYC brings home owners. Eklund admitted that he makes sure to plant the idea in his client’s heads that they “haven’t truly made it in life” until they buy some real estate in the city. Eklund also pointed out the “third development wave” that consists of luxurious, amenity filled high end hotels that are popping up all over the city while garnering renewed interest from buyers both Chinese and otherwise.
The conversation between the successful brokers navigated toward the topic of Chinese buyers and how they are coming to NYC in seeming droves. CEO of Town Residential, Andrew Heiberger, pointed out some useful data pertaining to Chinese buyers when he pointed out their precise ‘purchase range’: $800,000 to $2 million. Heiberger also landed the biggest laugh of the night for Town Residential when asked where his dream home in NYC would be. He replied by saying, “where Taylor Swift lives”. Heiberger was also a prominent and vocal fan of Brooklyn during the panel as he called it the “next great city” for both Americans and foreign buyers alike.
According to an article published in the New York Times, home buyers are now looking for apartments that will offer them a private outdoor space. They want an apartment that has some greenery around it; such as an outdoor terrace or even a slice of lawn. Of course, for those that are not able to spend more than $500,000 the options may seem limited. In fact, they somewhat are for those that are not willing to venture out into Staten Island but would prefer to stick to the boroughs.
Many condos and co-ops offer outdoor space, but this can mean shared outdoor space such as patios or gardens that are open to the community. It can be hard to sift through all of the results to look for what you want, but a persistent buyer with some time an sort through all of the options to find some choices that will fit their needs.
For instance, Town Residential has a handful of great listings in some of the top NYC neighborhoods including Soho, Tribeca ,Upper East Side, Lower East Side, West Village, and Chelsea. A lot of their rentals offer great rooftop terraces that make it easy to escape into the greenery and sunlight so that you can forget about the city life for a few minutes (or hours) a day. Each apartment offers a mix of modern luxury and sleek city living with some great amenities and of course door service.
Buyers looking for green space need to be careful however, because some of the apartment choices that offer green space compromise with small living quarters in NYC luxury real estate. For example, the article cited an apartment in Brooklyn that offers a great garden that even has space for tables and paths. However, the apartment itself is a studio that it would be hard to fit a large bed into, let alone any larger furniture. It seems there is always a trade-off, but for those who value their green space it may be an option. More boroughs and their available options are discussed further in the article and many with the same types of problems.