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Developer looks to reconnect Brooklyn to its waterfront.


When Brooklyn developer Stephen Jemal goes property hunting, it's not a newspaper, car or train he uses to see what's available, it's a boat. A niche waterfront developer, Jemal says his odd method of discovering properties isn't a merely a matter of personal style.

"Most of the properties I look at you'd never even see from the road," Jemal said.

On reason for this is that there's often a fence and "no trespassing" sign on the land side of the properties that most interest Jemal. His company, SSJ Development SSJ Development is a construction company, largely in the New York City, New York area. , seeks out decrepit de·crep·it  
adj.
Weakened, worn out, impaired, or broken down by old age, illness, or hard use. See Synonyms at weak.



[Middle English, from Old French, from Latin d
 shoreline properties and turns them into low-rise condominiums complete with private boat slips and public waterfront promenades. Quietly, Jemal is converting several sections of rundown Rundown

A summary of the amount and prices of a serial bond issue that is still available for purchase.


rundown

A list of available bonds in a municipal issue of serial bonds.
 South Brooklyn South Brooklyn is a hybrid neighborhood in the New York City borough of Brooklyn, encompassing areas of Carroll Gardens, Cobble Hill, Red Hook, Gowanus, Park Slope, and Boerum Hill. Thus it forms the western half of the territory of Brooklyn Community Board 6.  waterfront into such condo communities, a housing plan he has branded "The Riviera."

"The thing about these neighborhoods is the neighborhoods themselves are very nice," said Jemal, an avid AVID Cardiology A clinical trial–Antiarrhythmics Versus Implantable Defibrillators that compared the effect of implantable defibrillators vs the best medical therapy–antiarrhythmics for survivors of MI or those with nonsustained ventricular tachycardia  boater and water-skier famous for his run as former owner of the "Nobody Beats the Wiz" electronics chain. "It's a nice community with manicured lawns and then you get to the waters edge and there's a rundown factory there ... The waterfront's been basically abandoned."

Currently, Jemal has Rivera projects of varying sizes underway at Sheepshead Bay Sheepshead Bay, residential area in S Brooklyn borough of New York City, SE N.Y., on Sheepshead Bay. It was once famous for its horse and automobile races and as a resort center. The bay is an anchorage for commercial and pleasure fishing craft. , Mill River Basin and Gerritsen Beach, all in South Brooklyn. He expects to close on more land and start more Riviera developments soon.

Jemal said he's drawn to waterfront development despite its complex regulations due to his love of the water.

"Waterfront development by it nature is the most difficult to do. It's an alphabet alphabet [Gr. alpha-beta, like Eng. ABC], system of writing, theoretically having a one-for-one relation between character (or letter) and phoneme (see phonetics). Few alphabets have achieved the ideal exactness.  soup of agencies you've got to deal with," he said. "But it's also ultimately the most rewarding. I grew up on the South Shore with the water there as a kid. Now, there are generations in these neighborhoods that haven't had any access. It's exciting to bring the community back to the water."

Jemal said he has had little difficulty with neighborhoods in these communities because he is not seeking variances for the properties and is providing a host of public amenities, including promenades and parks.

"The approach I'm taking is I'm not trying to change anyone's neighborhood. I'm not trying to bring Manhattan to South Brooklyn and build some sort of high rise." Jemal said. "The zoning is very strict about how you're supposed to build on the water. I don't get upset about that because I think the zoning is correct. You shouldn't be building something that's going to block your neighbor's view of the water."

Riviera homes start at around $800,000, which Jemal says is similar in price to many of the land-locked houses in the communities in which he's building. Due to this, he thinks many of the first Riviera residents will be making short moves from down the block.

"If for the same amount of money you can get a place inland with a view of the road and the gas station or you can get a beautiful townhouse town·house or town house  
n.
1. A residence in a city.

2. A row house, especially a fashionable one.
 with a view of the water with a boardwalk and a park, it's a no-brainer No-brainer

A market in which it does not take very complex analysis to figure out how securities are going to perform, such as a strong bull market.
," Jemal said.
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Title Annotation:PROFILES in CONSTRUCTION & DESIGN
Author:Moran, Tim
Publication:Real Estate Weekly
Date:Jun 28, 2006
Words:511
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