The household behind actual property funding and administration firm JJ Working Inc. bought a house in Midwood, Brooklyn, for a whopping $13.6 million.
Samuel and Isaac Jemal bought a property at 1151 East Seventh Avenue to a purchaser whose identification is shielded by a shell firm, 18 Midwood Proprietor LLC, in keeping with public data. The deal was greater than 4 instances the quantity the Jemals paid for the house after they purchased it for $3 million in 2016.
The deal seems to have been off-market, and few particulars in regards to the property are publicly accessible. Itemizing descriptions on Zillow and Realtor.com peg the house at roughly 4,600 sq. ft. Images alongside the entries present a house underneath building, which is marked as accomplished in 2021.
The property’s sale worth is considerably greater than the priciest listings within the neighborhood, which embrace a seven-bedroom duplex on the identical avenue asking slightly below $6 million and a brand new growth residence on East eighth Avenue asking $4.5 million.
Nonetheless, the deal does align with different high-profile trades amongst actual property households within the neighborhood. Maguire Capital Group’s Marvin Azrak and his spouse, Barbara Azrak, bought their residence at 935 East Ninth Avenue for $9.5 million in 2024. A 12 months later, Helm Equities developer Ayal Horovitz and his spouse, Michele Bailey-Horovitz, bought their residence on Avenue J for $15.5 million, Crain’s New York reported.
The Azraks’ and Horovitzs’ gross sales present how a lot costs have grown for houses within the space. When one other well-known actual property identify, Stanley Cayre, whose brother Joseph Cayre based Midtown Equities, bought his residence in 2017, he did so for simply $3.6 million.
Costs in Midwood haven’t but caught as much as the higher echelons of gross sales in close by Gravesend, which in November logged a $32 million deal after Eli Gindi bought his residence on East Fourth Avenue to Victor Hakim of Alternative Residence Guarantee.
The Jemal household’s JJ Working owns industrial properties throughout New York and New Jersey, together with a retail constructing on Grand Concourse within the Bronx, which they purchased from Vornado Realty Belief in 2001 and refinanced with $52 million from Financial institution of America in 2017.
The corporate was additionally one of many builders behind a mixed-use growth mission at 278 Eighth Avenue in Chelsea, which accomplished building in 2024. JJ Working purchased the positioning for $107 million in 2017.
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