If you plan to own a luxury apartment in New York, get ready to pay an arm and a leg for it (quite literally).
With rent costs hiking up to $3,000 to $5,000 plus a month, there is no way for a working-class American to afford a luxurious lifestyle despite earning six figures. The NY Rent Own Sell conducted a recent survey that confirmed that New York real estate apartment rental rates have increased by over 25% in just a year, creating a massive rift between demand and supply. This was just the beginning; with a global economic crisis entering the picture, coupled with evr rising interest rates, the rent prices in Manhattan will only increase rapidly from this point onwards.
That’s where reputed New York real estate developer, SS Jemal, stepped in to turn things in favor of New York residents. In an effort to minimize the economic disparity and help average working-class Americans experience luxury living, SS Jemal teamed up with his eldest son Norman S. Jemal to pioneer the CENTRAL project. The CENTRAL project is a ground-breaking real estate initiative that aims to make luxury housing affordable for working-class New Yorkers.
Who Is SS Jemal? All You Need To Know About The Real Estate Visionary
‘SS’ Jemal is the wonder real estate developer in all of New York.
Jemal was born and raised in Brooklyn, New York, and his love for the city that had given him everything is the drive behind his success.
SS Jemal’s father, Norman N. Jemal, introduced him to the business world and was his life coach and mentor. Norman owned an discount store in Harlem, and at a very tender young age SS Jemal worked side-by-side with his father. SS Jemal’s father acted as a mentor and taught Stephen whatever he knew. Soon, they both were running a successful business together, having opened two more electronics stores.
SS Jemal learned a lot from running his father’s stores and decided to start his own business. In 1976, the foundation of ‘Nobody Beats the Wiz’ was laid. The pattern of success of this electronics store was similar to Norman’s stores. Soon enough, a new ‘Nobody Beats the Wiz’ was popping up in every other street. The retail store chain spread to other states as well.
The success of The Wiz had established one thing – SS Jemal was a force to be reckoned with.
The Wiz made more than $2 billion in revenues, but Jemal was hungry for more. Thinking like a proper businessman, he sold ‘Nobody Beats the Wiz’ and decided to try out a new venture. That new venture turned out to be a real estate development/construction company. SS decided to try out a few projects and test his abilities in a new industry. Having built over a whopping 20 million square feet, SS Jemal responded to an RFP for Southpoint on Roosevelt Island. The project turned out to be much more than just a learning experience; it was an astounding miracle when SSJ actually beat out 70 other top national real estate companies and won the RFP against all odds which highlighted Jemal’s absolute brilliance and how he could accomplish whatever he put his mind to.
By now, SS had a fair idea of what he could do to seize a fair share of New York’s real estate market. His vision can be discerned by the fact that he understood the importance of harbor front properties and decided to dabble in it exclusively.
SS pursued more waterfront real estate projects and through the Southpoint experienced really honed his knowledge in New York Zoning Regulations and expanded his vast network of the top NYC professionals that have proved invaluable to him in his current quest: CENTRAL. the Southpoint project.
Under the trade name of ‘The Riviera,’ SS Jemal began working on properties with a water view all over New York assembling and remediating them. For the next fifteen years, he was involved exclusively in this and built a “rolodex” of the most resume’d professionals in Manhattan.
Success does not come easy, and SS Jemal’s life is a hallmark of that. His dedication to his work since he was 10 led him to where he is today. Despite being a business tycoon, Jemal is first and foremost an honorable citizen of the United States. His passion and dedication to the nation led him to his next initiative – The CENTRAL Project.
New York is notorious for unreasonably high real estate prices – almost as high as the skyscrapers that are a key part of its landscape. Buying, renting, or just living in an apartment in New York is next to impossible.
With the help of his son, the Member and COO of JemRock Organization, Stephen established CENTRAL. The project focuses on providing affordable luxury real estate properties for the public to reduce the gap between the quality of life of the elite and the working class.
Presenting CENTRAL – SS Jemal’s Passion Project
It is no surprise that real estate prices are hiking every year, and buying or renting your own apartment seems like a dream further out of reach each year. Even Manhattan’s existing residents were forced to move out to other places.
As someone who grew up in Brooklyn, Jemal always dreamt of living in Manhattan. He knows that there are others like him who want to experience the quality lifestyle Manhattan offers but can’t afford it.
Jemal wants to give back to the people of New York through CENTRAL. He has collaborated with several experts all over America to bring his idea to life. Lawyers, architects, construction laborers, builders, and other professionals have come together to build something exceptional and affordable. He has also joined hands with his own son, Norman S. Jemal, a self-made person and developer, and Alex Elkin, the CEO of Eastbound Construction, one of the most renowned construction companies in the city. His efforts are proof that there is little you can’t accomplish in real estate once you put your mind to it.
Future Plans – CENTRAL Launch, Global Expansion, and More!
At present, both SS and Norman S. Jemal are busy prepping for the launch of CENTRAL so it can make waves in the real estate industry, just like SS Jemal’s previous projects. The phrase ‘everything he touches turns to gold’ falls true for SS Jemal as he continues to establish successful businesses and real estate ventures, time and time again.
After giving New Yorkers their dreams-do-come-true residential project, SS Jemal is pumped up for the future. He, armed with his world-class team are already looking at global expansion for the CENTRAL project, marking his territories and triumphs all over the globe.
Our fingers are crossed for the success of CENTRAL. New York’s real estate sector is excited about this one.
Interested in the CENTRAL project? Keep watching this space for more news and updates.