As the youngest of ten children, Stephen Jemal, a first-generation American, was born and raised in Brooklyn, New York. From an early age, he began working alongside his father and mentor at the family discount store in Spanish Harlem. These formative years instilled in him a strong work ethic and a deep understanding of business operations. Jemal had started his venture by age sixteen, operating four successful electronics and music specialty stores. His early experiences and achievements working with his father laid the foundation for his signature creation: an iconic electronics retail chain that gained regional and cultural significance.
Stephen attended Pace University, where he strengthened his knowledge to complement his growing business ambitions. Soon after, he opened his flagship store in 1976 on Fulton Street in downtown Brooklyn. From this starting point, he expanded his chain to 110 stores across six states, employing about 6,000 people and generating annual sales surpassing $2.5 billion. Recognizing the challenges and costs associated with rapid growth, he took the innovative step of managing the entire construction process in-house. This decision led to the creation of a prefabricated fixture manufacturing operation that outfitted all stores efficiently and cost-effectively, giving him greater control over quality and timelines.
Not content to focus solely on retail, Jemal branched into construction and real estate development. He operated a construction company employing approximately 600 tradespeople, responsible for building over 20 million square feet of retail space. Through this work, he gained firsthand experience in every stage of construction—from initial design concepts to project completion. His expanding business interests led him to engage deeply with residential and commercial development complexities, including navigating detailed zoning regulations. This comprehensive real estate and construction knowledge allowed him to diversify and strengthen his portfolio beyond his original retail ventures.
After selling his electronics chain to a family well-known in the media and entertainment industries, Stephen S Jemal shifted focus to waterfront revitalization. In 1997, he founded a real estate development company and quickly made a mark by winning a competitive bid from the Roosevelt Island Operating Corporation for a significant project. Outperforming over seventy top national developers, he demonstrated an ability to succeed in a new and challenging sector. Over the following fifteen years, he assembled underutilized waterfront properties across Manhattan, Brooklyn, Queens, the Bronx, and New Jersey. His growing zoning expertise and expanded professional network have been vital to his continued success, especially as he moves forward with his latest ventures.
Together with his four sons, Stephen established JemRock Organization LLC and launched the trademarked PASHA brand. PASHA is a unique multi-building development project aimed at providing luxury apartments in Manhattan at a fraction of typical market prices, specifically targeting six-figure salary earners. The project also caters to business professionals frequently visiting New York City and international visitors seeking affordable housing. Beyond residential units, PASHA offers rentable office spaces, known as “WorkWell,” exclusively available to residents. The development employs cutting-edge AI-driven, cloud-based, laser-guided prefabricated construction technology, allowing for rapid and cost-efficient conversions of existing office and hotel buildings into mixed-use residential and commercial spaces.
Jemal's original electronics chain remains one of his most significant accomplishments. Despite being a regional retailer focused in the Northeast, it was ranked the thirteenth most recognized brand in the United States by Advertising Age in 2000, just behind major national brands. The chain's cultural impact was such that it inspired an entire episode of a popular television sitcom. His ability to secure exclusive agreements with major electronics manufacturers positioned his stores as leaders in introducing new technologies. Currently, with PASHA, he is building a legacy by creating sustainable, supportive living environments for young entrepreneurs and professionals who have been priced out of Manhattan's housing market, filling a critical niche for those seeking central city living.
Stephen Jemal has been a pioneering figure, initially creating a distinctive electronics chain that achieved international recognition ahead of its time. Through PASHA, he is redefining luxury housing in Manhattan by focusing on an underserved market segment. His vision prioritizes providing amenity-rich lifestyles at affordable prices for working professionals, a niche often overlooked by other developers. Jemal plans to expand PASHA into other major U.S. cities and eventually global markets. His approach emphasizes sustainability, technology integration, and community building, setting new standards in urban residential development.
Stephen's retail and real estate successes have drawn attention from numerous reputable media outlets. His ventures have been featured in publications such as The New York Daily News, The New York Times, Crain's Magazine, and Real Estate Weekly. His original retail stores were cultural touchstones, referenced in multiple television shows and films. His current use of AI and prefabricated construction methods reflects his forward-thinking leadership within the real estate industry. He continues to serve as an example of innovative entrepreneurship, blending traditional development with modern technology to influence market trends.
Born on February 17, 1956, Stephen S Jemal was raised in a Sephardic Jewish family that instilled strong values of family unity, diligence, and perseverance. These principles have guided him both personally and professionally throughout his life. He maintains a close working relationship with his sons, fostering a family-centered business philosophy. Jemal's journey illustrates the impact of dedication, visionary leadership, and hard work rooted in the values passed down by his parents. His legacy encompasses commercial success and a lasting commitment to community and innovation.
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