The real estate market in Brazil has been growing at an exponential pace in the past couple of decades, especially due to the government’s push to develop sustainable infrastructure in the country. The demand for luxurious residential properties has also increased drastically in the last few years. JHSF Development industry has played a vital role in developing high-quality and elegant residential projects across Brazil in many different cities. The company has played a key role in shaping the real estate landscape of the country and has also developed the commercial executive airport, world class shopping centers, and Incorporations. The company has also built a chain of Fasano Hotels and Restaurants, which it runs and manages.
JHSF Development frequently partners with international designers and developers for its residential commercial projects to ensure the result is at par with the properties seen in developed nations. The Bovespa has listed JHSF Development for maintaining highest standards in corporate governance. It gives an insight into the commitment of JHSF Development who has not failed in providing consistent results for over four decades. The company has withstood the challenges of time and even failing economy to rein at the top in the real estate market of Brazil.
Jose Auriemo Neto serves as the company’s CEO and Chairman and has played a significant role in writing the success story of JHSF Development in recent years, even amidst heavy competition in the real estate sphere. Jose Auriemo Neto has helped in collaborating with many international partners and developing quality residential and commercial projects in Miami, New York, and parts of Uruguay, including in Punta del Este. Jose Auriemo Neto has tremendous experience in the real estate space, and he has put all his experience in ensuring that JHSF Development continues to grow and expand not only in Brazil but makes its mark in the global real estate market.
Jose Auriemo Neto is dedicated to ensuring continued growth of JHSF Development Inc, and it is why he recently relocated to New York along with his family. He moved to New York City to oversee and manage the residential property construction by JHSF Development on Fifth Avenue.
Vice president of Boraie Development, Waseem Boraie says that having plenty of choices in the housing market is absolutely vital in order to revitalize the city of Newark. The young VP states that “people are not going to flock to a major city because of one new development.” Rather a combination of different housing options and new construction projects will bring people to the city. This will also attract investors, major corporations, chains and startups creating a synergistic like affect, that the city leaders desperately want to see in Newark.
Waseem Boraie is actively involved in his firm’s latest construction project in Newark. The latest Newark project undertaken by Boraie Development is a high rise apartment dwelling in the heart of Newark on Rector Street. The development is a milestone for Newark. The city has not seen a high rise housing development in the city for a long time and Waseem Boraie is proud to be able to help redevelop this once thriving city that has seen a major downturn.
Mr. Waseem Boraie is widely expected to take the helm of Boraie Development when his father Omar Boraie retires or steps down in the future. So far, father and son work closely together as they slowly help revitalize New Jersey cities such as New Brunswick, Atlantic City and now Newark. The firm has had great success in revitalizing downtown areas in Atlantic City and New Brunswick and hopes that it could do the same in Newark, which is New Jersey’s largest and most populous city.
“For far too long, city leaders and developers have thought that one major construction project will create a big bang affect that will spur development and bring people to the city” says Waseem Boraie. The results of this approach and way of thinking are pretty self evident and have not brought the desired or expected results. Multiple construction projects and mixed use developments on the other hand have had huge success in cities like Hoboken, Jersey City and New Brunswick. “The same model should be applied to Newark” says Waseem Boraie. It is foolish to think that a single project will cause investors and people to head to a big city such as Newark.
The city of Newark is currently undergoing several major construction projects including one lead by Boraie Development. Over five construction projects that will contain over a thousand apartment units are currently in construction or are awaiting approval. It is an encouraging sign.
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As reported on Virtual Strategy Marketing on January 5th, despite the “soft patch” that New York City’s market experienced in the Fall, the average listing prices are climbing and nearing an average of $2 million. The firm Town Residential just released its quarterly market report of residential property for NYC apartments for rent showing this gain.
For the past several years Manhattan’s average sales have seen a rise of 5.2%, bringing the dollar average to just over $1.9 million. The median sales price saw an even greater rise of 16%, reaching just over $1.5 million. This brings the average price per square foot to $1,505; an increase of 8.4% from the year before. However, the largest increase year-to-year has been in Manhattan condos which have seen a 20% gain for a median of over $1.7 million (an 11% rise in square foot).
Town Residential’s report looks at property sizes to better reveal the trends of the market. The property size that surpassed the $3 million mark with a 15% increase was three-plus bedroom housing. For one, two, and three bedroom properties the median prices were $1.0+ million, $2.0+ million and as much as $4.4+ million.
These trends are reported to have much to do with the gap between new and resale listings. New developments are offering “trophy listings” that are affecting the market medians. Town Residential’s CEO speaks about the credit that these trophy listings get for the quarters closing numbers.
As always the market is in the hands of the buyers. Itzy Garay, Town Residential’s Vice President of Sales and Leasing speaks to this saying “The power continues to shift to the buyer and their cost-conscious approach contributed to the quarter’s sharp increase in median days on market.” Because of the information available to buyer today Garay says they are better armed. More than ever buyers are able to make more informed decisions and are no longer willing to pay just any price. They themselves have become experts.
This quarterly report covers sales and listings from October through December of 2015. Not only does the report cover previous quarter data, it also takes into account year-over data to show a broader picture of the market’s strengths and weaknesses.
In a report released through The Real Deal, the stock market was booming in October, while luxury properties in Manhattan slowed down. In November, the situation was exactly opposite where the stock market paused or took a breather, the real estate industry signed 33 deals worth more than $4 million. In fact, 70 contracts were signed in the first 14 days of November, which represented a sales volume of over $500 million. The experts in this sector accepted that this was the strongest start of the month of November since they started tacking the performance record of this sector in 2006.
In the month of September, the entire NY luxury real estate industry was booming, more so the multifamily homes. Property advisors in New York estimated the total sales volume to be around $1.7 during that month. Real estate experts in NY didn’t expect such large volumes of dollar and investors’ interest to be of that magnitude. New York City and other boroughs witnessed 134 properties that were sold in 60 deals. In comparison to the previous month, the deals represented an increase of 58 and 25 percent respectively. Overall, real estate experts said that a healthy sales volume would be experienced in the final quarter of this year in the NY industry.
The outer borough of Manhattan recorded low sales, but there was a notable investor who bought Caiola, a 24-storeyed building for $90 million. Queens was largely affected more so the multifamily apartments, where only eight properties through four transactions were made. A total volume dollar of $ 15 million was transacted throughout September. In the area of Bronx, the trend was the same as other boroughs because building sale, the volume of dollar and number of transactions made all decreased.
The firm was established in 2010 and over the years, it has emerged as the best real estate company in New York City. TOWN Residential offers world class services focusing on luxury residential properties across this region. The company collaborates with other industry experts like architects, interior designers in order to develop luxurious properties that would attract clients.
The company has highly skilled and qualified industry professionals who engage with clients to know exactly the type of properties they would like.