JJ Operating
(ISJ Management, Jemstone Group)
110 W 34th St Suite 9th Fl New York, NY 10001
112 W 34th St. #2106 New York, NY 10120
People:
JJ Operating NYC portfolio
$570.6 million -retail 68%, mixed-use 16%, office 14%; Manhattan 38%, Bronx 35%, Brooklyn 15%*
394th largest portfolio by dollar value
1,086,520 sqft – retail 35%, office 33%, mixed-use 31%; Bronx 53%, Brooklyn 33%, Manhattan 9%
453th largest by SF
26 properties – Bronx 34%, Manhattan 26%, Brooklyn 23%
398th largest
26 residential units – Manhattan 50%, Brooklyn 50%
3452th largest by residential units
1 foreclosure, 0 bankruptcies, 2 other court cases.
Notes
JJ Operating and ISJ Management have shared office locations and are both affiliated with the Jemal family.
Company Activity past 24 months:
Seller company: 4 for $43.3 million
Borrower company: 3 for $212.7 million
Top Ten Associated Companies:
Signature Bank (6), Capital One (3), Fortress Investment Group (1), Pacific Western Bank (1), Yitzchok Katz (1), Apple Bank for Savings (1), Rabsky Group (1), Raimondo Zaytoune (1), Apollo Global Management (1), Extell Development (1)
Top Ten Associated People:
Kenneth A. Stagnari (5), Paul Verdi (2), Yitzchok Katz (1), Cynthia Wang (1), Abraham Kohn (1), Raimondo Zaytoune (1), Jeffrey Horowitz (1), Jeffrey Feil (1), Haley Holmberg (1), Grace Chiang (1)
Recent activity as company:
• Ralph Braha, ISJ Management, Jenel Management, Buhm Roe and Nakash Holdings sold 267 Broadway for $30 million to Rabsky Group on May 14, 2026.
• ISJ Management and JJ Operating sold 3696 Nostrand Avenue, Sheepshead Bay, Brooklyn for $3.6 million to Raimondo Zaytoune on April 27, 2026.
• 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.
• Jem Realty Management and ISJ Management borrowed $18.7 million from Apple Bank for Savings for 1 East Fordham Road on October 10, 2023.
• Fortress Investment Group on August 15, 2023 bought a loan with an original principal of $42 million from Capital One, signed by Nicholas Eng, secured by Howard building, when owned by ISJ Management.
Latest Stories:
• Raimondo Zaytoune pays $3.6M to Jemal family for retail in Sheepshead Bay (June 10, 2026)
• Jemal family’;s JJ Operating signs $185M refi with Apollo for Chelsea (April 18, 2025)
• Blackstone files $25M pre-foreclosure at FiDi high rise dev site (October 07, 2024)
Court Records:
Properties: