Stephen S. Jemal, the same developer who received the print version of a hand job from the Daily News just a few weeks ago for his plans to build new waterfront developments in Sheepshead Bay, Gerritsen Beach and Mill Basin, is now being sued by the investment companies that provided the money for those developments.
GerritsenBeach.net has uncovered court documents that reveal a civil suit against Stephen and Sharon E Jemal was filed in Texas Northern District Court on July 14. The companies, Gerritsen Beach Investments Ltd and Riviera Investments I Ltd, claim that the Jemals have not paid them back $5,580,000 plus interest.
SB/PB Civic has also followed up on the story by doing some research into the Jemal family, which apparently is no stranger to lawsuits and less-than-virtuous business practices.
I wonder what all this means for the future of the Riviera sites, which the Daily News called “the biggest real estate vision the South Brooklyn waterfront may ever see.”