Jemstone Group

(JJ Operating)

358 5th Ave, Suite 704. New York, NY, 10001

People:

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Jemstone Group NYC portfolio

$433.3 million -retail 73%, mixed-use 14%, office 11%; Manhattan 43%, Bronx 33%, Brooklyn 20%*

505th largest portfolio by dollar value

917,933 sqft – retail 35%, office 33%, mixed-use 31%; Bronx 50%, Brooklyn 39%, Manhattan 5%

520th largest by SF

16 properties – Manhattan 37%, Brooklyn 37%, Bronx 18%

623th largest

216 residential units – Manhattan 93%, Brooklyn 6%

1093th largest by residential units

1 foreclosure, 0 bankruptcies, 2 other court cases.

Notes

Jemstone Group is an affiliate of JJ Operating, all owned by members of the Jemal family.

Company Activity past 24 months:

Seller company: 2 for $9.7 million

Borrower company: 3 for $212.7 million

Top Ten Associated People:

Kenneth A. Stagnari (3), Paul Verdi (2), Yitzchok Katz (1), Jeffrey Horowitz (1), Jeffrey Feil (1), Uzi Shvut (1), Haley Holmberg (1), Grace Chiang (1)

Recent activity as company:

• Jemstone Group sold 2946 3 Avenue for $2 million to Uzi Shvut on December 09, 2025.

• JJ Operating borrowed $19.8 million from TriState Capital Bank for 555 Bergen Avenue on September 30, 2025.

• JJ Operating sold 382 Fulton Street for $7.7 million to Extell Development and Feil Organization on July 09, 2025.

• JJ Operating borrowed $185 million from Apollo Global Management for None on April 11, 2025.

• JJ Operating borrowed $7.9 million from Tristate Capital Bank for 8 Flatbush Avenue on June 12, 2024.

• JJ Operating borrowed $39 million from Starwood Mortgage Capital for Howard building on October 13, 2023.

• Eduard Yakubov sold 768 East 31 Street for $1.7 million to Jemstone Group and Joseph Cohen on October 20, 2022.

• ISJ Management, Jemstone Group and Billy Shalom sold 360 Livingston Street for $25.5 million to Yitzchok Katz on August 25, 2022.

• Jemstone Group borrowed $11.1 million from Signature Bank for 186 Montague Street on June 05, 2022.

• Jemstone Group borrowed $12 million from Signature Bank for 2053 Jerome Avenue on April 11, 2022.

Latest Stories:

• Rabsky, Spencer Equity pay $37.8M to Extell for ground lease dev site in Downtown Brooklyn, part of larger deal (November 06, 2025)

• JJ Operating signs $19.8M refi loan with TriState Capital for retail in Longwood (October 17, 2025)

• Extell, Feil pays $7.7M to JJ Operating for air rights from landmarked building in Downtown Brooklyn (August 04, 2025)

• Jemal family’s JJ Operating signs $185M refi with Apollo for Chelsea (April 18, 2025)

• Goose Property signs $93.7M construction loan for 3-building dev site in Boerum Hill (December 30, 2024)

• Goose Property files plans for 77 units in Downtown Brooklyn, part of 3-building development (November 06, 2024)

• Jemal family’s JJ Operating signs $39M loan with Starwood for office in Downtown Brooklyn (October 24, 2023)

• Yitzchok Katz files plan for second building in Downtown Brooklyn, this with 105 units (February 06, 2023)

• Yitzchok Katz files plan for 75-unit building in Downtown Brooklyn, paid $25M last month for site (September 30, 2022)

• Yitzchok Katz pays $25.5M to ISJ, Jemstone, Billy Shalom, others for Downtown Brooklyn dev property (September 06, 2022)

Court Records:

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Properties:

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