Category Archives: Real Estate

New York City, where the real estate grows ever more luxurious

The real estate market in Manhattan continues its upward climb, hitting 9.5% in the third quarter, year over year. This is a dramatic surge, the highest in seven years. But the growing real estate market is not just the beginner homes market. One in five homes in Brooklyn and Manhattan can be termed luxury, their prices in comparison to the sales averages of the last year being markedly higher.

Town Residential is one of the companies filling the need of the luxury market. The company has focused on luxury residential sales and leasing. The sales statistics show that this a booming field, and Town is determined to be the leader in their industry.

Town believes in the personalized approach, a hand-crafted attention to detail with multiple offices to allow them to aid clients as conveniently as possible. The firm has also been voted one of the Top 50 Best Places to Work in NYC real estate. This is a company that knows how to keep top talent, ensuring the utmost for their clientele.

Manhattan’s rent increases, the median hitting a jaw dropping $3,339, mean the luxury real estate market will only increase. As residents of New York City eye their rent, it only makes sense that the next step will be eyeing the real estate listings. If they can afford the rent, why not use that money to afford the luxurious home they’ve dreamt of? Companies like Town Residential are firm in their desire to become leaders in their fields by serving their clients better than anyone else can. This can only be good for nascent home owners.

Can Boraie Development Be What Atlantic City Needs?

Throughout the 1960s, officials in Atlantic City tried to get the town to grow and thrive. Atlantic City’s housing czar, Pauline Hill, even took apart a whole neighborhood. This made room for commercial development. In the place of this neighborhood, developers pitched a mall and baseball stadium. Some developers even wanted to bring in gondolas. In the end, though, Pauline’s Prairie was all that was left. 

With this $300 million proposal, people all over the Atlantic City area were displaced. The city’s South Inlet section was even destroyed. However, the development plans that the residents were promised never happened. Throughout the next couple of decades, the South Inlet section remained bare. Housing projects started appearing in empty lots. With all of this emptiness, Atlantic City needs some reconstruction. There are plans to reconstruct the city from scratch. In fact, these plans could begin this year. Boraie Development proposed a plan to build a residential complex in Atlantic City. The company even bought the land from the Atlantic City Housing Authority and Urban Redevelopment Agency for $1 million. Besides a residential complex, Boraie Development would also build a movie theater and skating rink.

Boraie Development feels strongly that this is exactly what Atlantic City needs. These development plans will bring in revenue. The complex will work as a catalyst to drive life into the surrounding neighborhood. The South Inlet area will no longer be deserted. While this company wants to make these changes, there is no certainty that it will happen. 

Many plans have collapsed over the years. If this plan collapses, the South Inlet area could remain stagnant. There was a time when Atlantic City was the place to be. Everyone wanted to vacation there. Atlantic City was home to tons of amazing casinos. With all the gambling that was going on, these casinos brought in a lot of revenue. Over the years, though, this definitely wasn’t the case.

Residents of the South Inlet area have a lot of faith that Boraie Development will bring change. This company has what it takes to garner real interest in Atlantic City. New Jersey residents will want to live their lives in Atlantic City. This company has a lot to prove with their proposal plan. There is room for mistakes to be made. However, this company can become the real heroes here. If Boraie Development succeeds, money will finally come pouring into Atlantic City.

Originally posted on Press of Atlantic City