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Stephen Jemal
President and CEO of JemRock Organization LLC
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Stephen Jemal

President and CEO of JemRock Organization LLC
Stephen Jemal, a first-generation American born and raised in Brooklyn, New York, is the youngest of ten siblings. From a young age, he began working alongside his father and mentor at their family discount store in Spanish Harlem. By age sixteen, Stephen had already launched his venture, successfully operating four electronics and music specialty stores. These early experiences with his father laid the groundwork for Jemal's visionary creation—the renowned electronics chain Nobody Beats the Wiz. He pursued higher education at Pace University before starting a distinguished business career. Stephen is the founder, developer, and visionary behind PASHA, an innovative multi-building project designed to provide six-figure earners with reasonably priced, amenity-rich apartments in prime Manhattan locations. This project also serves business professionals frequently visiting New York City and international residents seeking comfortable, reasonably priced accommodations. Beyond residential spaces, PASHA offers rentable “WorkWell” office environments exclusively for its residents, reflecting Stephen's comprehensive approach to community living and working. As President and CEO of JemRock Organization LLC, Jemal leads a dedicated team that includes his sons. Together, they aim to transform PASHA into a global brand by converting existing office and hotel buildings into luxurious residential spaces with cutting-edge, AI-driven prefabricated construction technologies. This method accelerates the development process while maintaining cost-effectiveness and high standards. Jemal's leadership in this venture highlights his commitment to innovation in real estate development and construction. Stephen S Jemal's business journey began in 1976 with the opening of Nobody Beats the Wiz on Fulton Street in Brooklyn. Under his guidance, the chain expanded to 110 stores across six states, employing 6,000 people and generating over $2.5 billion in sales. Recognizing the need for control and efficiency, he established an in-house construction and prefabricated fixture manufacturing company to build all his stores and shopping centers. This endeavor employed hundreds of tradespeople and encompassed over 20 million square feet of retail space, allowing him to gain deep expertise in construction from concept to completion. His interests soon expanded beyond retail into residential and commercial real estate development. Jemal mastered the construction industry's complex zoning laws and intricacies, further broadening his professional scope. After selling the Wiz to a prominent media and entertainment family, he focused on waterfront revitalization, founding SSJ Development in 1997. He quickly gained recognition by winning a competitive project for Roosevelt Island, outperforming many top developers and cementing his reputation in the real estate sector. Over the next decade and a half, Stephen strategically acquired underutilized waterfront properties throughout New York and New Jersey, launching numerous large-scale projects. He formed the JemRock Organization alongside his sons to advance the PASHA brand, aiming to fill the Manhattan housing market gap by offering reasonably priced luxury living for young professionals and entrepreneurs who previously found the city out of reach. This vision reflects his ongoing dedication to creating sustainable and supportive urban environments. Nobody Beats the Wiz remains one of Jemal's most notable achievements, ranking as the thirteenth most recognized brand in the United States in 2000 despite its regional focus. Its cultural significance was highlighted when a popular television show devoted an entire episode to the store, and the brand secured exclusive partnerships with leading electronics manufacturers. Today, PASHA continues this legacy by addressing a vital need in the housing market with innovative design and technology. Stephen Jemal's impact on the electronics retail industry and real estate development is significant. His pioneering work with The Wiz set new standards for regional chains, while PASHA redefines luxury urban living for a broader demographic. By incorporating advanced construction technologies and focusing on affordability, Jemal positions himself and his organization as leaders in modern real estate development with plans to expand beyond New York to national and global markets. Stephen's achievements and innovations have been featured in respected publications and popular culture, reflecting his professional influence and cultural relevance. Born on February 17, 1956, into a Sephardic Jewish family, Jemal's values of family, hard work, and unity have consistently guided his career and life, making him a respected figure within his community and the broader business world.
Brooklyn, Kings, New York, United States
United States

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