About Stephen Jemal
Developer of Multi-State Retail and Housing
Early Life and Foundations
Stephen Jemal is a first-generation American born and raised in Brooklyn, New York. As the youngest of ten siblings, he grew up in a bustling family environment that shaped his work ethic and values. From an early age, he worked alongside his father, who also served as his mentor, at their family discount store in Spanish Harlem. These formative years provided Jemal with invaluable hands-on business experience. By age sixteen, he had launched his venture, operating four successful electronics and music specialty stores. This early entrepreneurial success, combined with lessons from his father, laid the groundwork for what would later become one of his most notable achievements.
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​Education and Early Career​​
Stephen pursued higher education at Pace University, further strengthening his knowledge and skills to serve him well ​throughout his career. Building on his early ventures,
he officially launched his flagship electronics chain in 1976 on Fulton Street in downtown Brooklyn. From this single store, he expanded rapidly, growing the chain to 110 locations across six states, employing around 6,000 people, and generating sales exceeding $2.5 billion. This rapid expansion was a testament to his strategic business vision and operational leadership. To better control costs and quality, he oversaw all aspects of store construction internally, creating a prefabricated fixture manufacturing company that handled the full build-out of his retail locations.
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​Expanding Into Construction and Real Estate
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Jemal was not content with retail; he extended his expertise to the construction and real estate development sectors. Managing an in-house construction operation, he employed hundreds of tradespeople to build over 20 million square feet of retail shopping centers. Through this experience, he gained comprehensive knowledge of construction processes from design to completion. He also became deeply familiar with complex zoning regulations essential for real estate development. This broadening of his skillset allowed him to diversify his business interests, moving beyond retail to include significant residential and commercial property projects. His hands-on approach in every stage of development helped ensure project success and operational efficiency.
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Transition and New Ventures
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After selling his iconic electronics chain to a prominent family known for media and entertainment enterprises, Stephen S Jemal shifted his focus to real estate, particularly waterfront revitalization. In 1997, he founded a new development company and quickly proved his capability by winning a highly competitive bid for a significant project on Roosevelt Island. This victory was notable as he outperformed more than seventy leading national developers, establishing his reputation in this new arena. Over the next decade and a half, Jemal strategically assembled a portfolio of underutilized waterfront properties across various New York boroughs and New Jersey. His growing expertise in zoning laws and his expanding network of professionals have become essential assets as he moves forward with his latest ambitious development project.
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Launching PASHA and JemRock Organization
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Together with his four sons, Stephen founded JemRock Organization LLC, establishing the trademarked PASHA brand. PASHA is a multi-building development project uniquely addressing a niche in Manhattan's housing market. It offers high-earning professionals the chance to rent luxury apartments in amenity-rich buildings at a fraction of the typical cost. The project also serves business travelers and international residents who require affordable, quality accommodations during their stays. Beyond residential options, PASHA incorporates rentable “WorkWell” office spaces designed exclusively for residents to support their professional needs. The innovative use of AI-driven, cloud-based, laser-guided prefabricated construction technology enables the project's buildings to be transformed with exceptional speed and cost efficiency, highlighting his commitment to integrating technology into real estate development.
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Industry Recognition and Notable Achievements
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The success of Jemal's original electronics chain remains one of his most significant accomplishments. It grew into a highly recognized regional brand, ranking thirteenth among the most recognized brands in the United States according to a leading industry publication, trailing only behind national giants. The chain became a cultural icon, inspiring an entire episode of a popular television sitcom. Stephen Jemal's ability to secure exclusive product launches with major electronics manufacturers positioned his stores as market leaders for new technologies. Now, with PASHA, he is creating a lasting legacy in New York by addressing the city's housing affordability crisis for young entrepreneurs and professionals. This project fills a critical gap, allowing these individuals to live in central Manhattan rather than being forced to relocate to less accessible boroughs.
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Impact on the Real Estate and Retail Industries
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Stephen has been a pioneer in both the retail and real estate development industries. His original electronics chain was ahead, creating a strong regional presence that attracted international attention. With PASHA, he is redefining urban luxury housing by targeting a previously overlooked demographic. His vision focuses on providing affordable, amenity-rich living spaces traditionally reserved for multi-millionaires, now accessible to working professionals. The project's innovative construction technology and the JemRock team's expertise position them for future expansion into other major U.S. cities and international markets. His approach reshapes conceptualizing luxury housing, emphasizing sustainability, technology, and community support.
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Thought Leadership and Media Presence
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Jemal's career achievements and innovative business ventures have garnered significant media attention. His work has been featured in various respected publications, highlighting his retail success and cutting-edge real estate developments. The original electronics stores he created were culturally influential, appearing in several popular television shows and films. His current projects continue to attract interest due to their unique combination of luxury, affordability, and technological innovation. By embracing AI-driven prefabricated construction methods, Jemal and his team are transforming the physical landscape and demonstrating leadership in adopting new technologies within the real estate sector.
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Personal Life and Values
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Born on February 17, 1956, Stephen S Jemal grew up in a Sephardic Jewish family that emphasized strong values of family, togetherness, and hard work. His parents instilled These principles in him and guided him throughout his personal and professional life. He continues to work closely with his sons, fostering a family-centered approach in his business endeavors. His story is one of dedication, resilience, and visionary leadership, reflecting the lessons learned from his early years in a large family and humble beginnings. His commitment to innovation and community development remains at the core of his ongoing work and legacy.