Boraie Development and former NBA star Shaquille O’Neal teamed up to build a new residential tower in Newark, New Jersey. It is formally known as 500 Rector Park, informally as Shaq Tower. It is 22 stories tall and has 168 apartments. Omar Boraie stated that it is already 60% leased. Speaking to NJ Advance Media, Omar Boraie stated that it took a long time to get this project completed. It took believing in the future of Newark, the building, and his company’s partners. He called development a team sport rather than one any company can do on its own.
Omar Boraie is credited with reviving New Brunswick by developing buildings there. He now wants to do the same thing in Newark. He decided to enter the Newark real estate industry in 2006. People told him it would be crazy to build there but he believed in this city. He says that once you believe in a city you are willing to do what is necessary to succeed in it. A studio apartment costs $1,800 a month at Shaq Tower. A one-bedroom apartment is $1,950 while a two-bedroom unit rents for $2,700. It has a 120-car garage where residents can park for $150 a month. Shaquille O’Neal has established a strong business track record since retiring from the NBA. That includes becoming an investor and restaurant franchise owner. He owns 27 Five Guys locations and a Krispy Kreme Doughnuts location in Atlanta. He founded a fried chicken restaurant in Las Vegas called Big Chicken. He also established a fine dining restaurant in Los Angeles, which is Shaquille’s.
Wasseem Boraie, vice president of Boraie Development, is in a good mood these days, and he has good reason to be. His company started leasing condos in their new 25-unit 600 NoBe (an abbreviation for North Beach) development in Atlantic City, New Jersey, in January, and half of the units have already been leased. He’s ahead of the schedule he set for himself, and he’s thrilled that he was wrong about that particular projection. All residents should be able to move into their condos by January. While the three buildings will be near Atlantic City’s famous casinos, they are not meant for tourists but rather for permanent residents.
These condos will be a good thing for Atlantic City in general by creating a small permanent community. Hopefully, they will serve as a positive example to other developers by proving that people want to live and work in Atlantic City and not just gamble there and leave. Essentially, the NoBe development takes nearly two blocks of what was recently urban blight and turns it into a neighborhood for long-term citizens of the city. The success of the $85 million project so far flies in the face of the predictions of naysayers.
The Gazette Day post titled, EVERYTHING IS LOVE: A Shout Out to Roc Nation Husband & Wife OG Juan and Desiree Perez summarizes the TIDAL-exclusive Jay Z and Beyonce album, Everything is Love. It also refers to the Roc Nation power couple that has been with Jay Z since his Reasonable Doubt days: OG Juan and Desiree Perez. On the current album, Jay Z talks about his friendships on a track appropriately titled, Friends. In the song, the rapper/mogul makes it blatantly clear that he is not talking about the rich fatcats we usually see him rubbing elbows with. He is referring to his close relationships, including childhood friends, a cousin, and the Perez duo.
OG Juan met Jay Z in 1996 through a mutual acquaintance. Through the years, OG Juan has played major roles in Jay Z’s music and business deals. He was one of the key players in the creation of the swanky sports club, 40/40 Club. He is currently the President of Roc Nation Sports, the Sports Management side of the Roc Nation empire. While OG Juan is one of Jay Z’s true friends and business partners, his wife is also. Desiree is currently the COO of the Roc Nation empire.
OG Juan and Desiree are the perfect business team. Together, they have shaped the career and the presence of their close friend, Jay Z, along with the Roc-A-Fella & Roc Nation brands. The article also talks about Jay Z’s subtle references and shout-outs to OG Juan in his lyrics throughout the years. Whenever he shouts out OG Juan, he usually shouts out Desiree also. Their work is behind the scenes of Roc Nation, but they are two of the many that continue to make it grow and thrive.