Jemal was born to a Syrian Jewish family in South Brooklyn, one of four sons and two daughters of Norman Jemal and Sally Chira, a discount retailer in lower Manhattan.[3][4] He dropped out of high school.[1]
Retail
His first foray into retail began in the 1960s, when he and his younger brother Lawrence Jemal, opened a store called Bargaintown in Washington, D.C. and soon after, a discount electronics store.[3] In 1976, they returned to New York with their newfound expertise and along with two other brothers - Marvin Jemal and Stephen Jemal - founded the discount electronics chain Nobody Beats the Wiz (the name of their father's favorite Broadway musical)[3] Douglas sold his share back to the family in 1993.[3] The chain went bankrupt in 1997.[3]
Real estate
Jemal took the proceeds and began investing in Washington, D.C. real estate which was opportune as the city was in the midst of a down cycle.[4] His success was compounded by the fact that he recognized that retail was under-present in D.C. (with half the national average of retail space per capita) and focused his efforts on high-end retailers.[4] He is also known for borrowing heavily to support his purchases and paying his contractors late to fund even more purchases.[4] Riding the wave of D.C.'s gentrification, he developed over ten million square feet of space through 2007, transforming the East End neighborhood near the Verizon Center, the Navy Yard neighborhood on the Anacostia River near Nationals Park, the Shaw neighborhood, and Chinatown into lively areas of mix of retail, restaurants, and housing.[1][2] He has been criticized for sitting on derelict properties rather than developing outright as well as and charging very high rents and forcing out long-standing local tenants.[3]
His method of doing business led to numerous lawsuits and a federal investigation and charges.[4] In July 2006, he was acquitted on federal charges of bribery, conspiracy, and tax evasion but convicted on the charge of wire fraud.[2][4][5] The wire charge conviction involved the taking of a loan with his business partner (and uncle of his son-in-law) Joseph Cayre.[4] Jemal took the proceeds from the loan and used it to support the purchase of another property unbeknownst to his business partner.[4] He was sentenced to a $175,000 fine and received five years probation.[6][7] As stated by Judge Urbina at the conclusion of the Sentencing Hearing: "One thing is clear: Mr. Jemal has devoted much of his adult life to good, charitable causes", Urbina said. "When I compare the valuable and worthwhile services [repeat offenders] provide to society and I see what Mr. Jemal has done over the course of his lifetime, it is inconceivable to me that I should impose the penalty proposed here. . . . Being fair means being fair."[8]
On December 5, 2019, Jemal was inducted into the Washington Business Hall of Fame.[9]
On January 20, 2021, Jemal received a pardon for his 2008 wire fraud conviction from President Donald Trump.[10]
Buffalo real estate
In 2016, he purchased One Seneca Tower, the tallest building in Buffalo, New York, with plans to convert it into a mixed-use development including retail, restaurant, hotel, office and apartment components.[11][12] The tower had been expected to have its renovations completed by the end of 2021. Jemal then went on to add the Hyatt Regency Hotel, the former headquarters building of the Buffalo Police, and the five-story Mahoney state office building to his portfolio of Downtown Buffalo, and in 2020 he acquired the Statler City complex in Buffalo, following the death of its previous and local owner Mark D. Croce, which Jamal immediately began renovating.[13] And Jemal plans to build a new nine-story building at 61 Terrace Street, in what is known locally as the “Donut Lot”.[14]
Further afield from the downtown area he purchased the 64-acre Boulevard Mall with major urban renewal plans for the property, and is negotiating a long-term lease to run, and update the Hotel Henry on the Richardson Olmsted Campus,[15][16] since renamed, The Richardson Hotel.
In 2020, Douglas Jemal purchased a $1.425 million house in the Nottingham Terrace area of Buffalo.[17]
Personal life
Jemal'e sons Norman Jemal and Matthew Jemal are now active in the real estate business.[18][19] His daughter, Kim Jemal Cayre, is married to the nephew of New York real estate developer and record producer Joseph Cayre.[4] Jemal, his wife and four daughters live in New Jersey.[citation needed]
References
^ abcENR Mid-Atlantic: "D.C.-Based Developer Focuses on Historic Preservation - Douglas Development Corp. has made a name for itself investing in preservation and redevelopment in Washington D.C. neighborhoods" by Justin Rice April 11, 2017
^ abcdefCrains New York: "Nobody Beats the Wiz family's fall - The Jemal brothers struggle to re-create their days of discount-chain glory" by Aaron Elstein By Aaron Elstein April 13, 2014
^ abcdefghiWashington City Paper: "The Right Stuff - Everyone loves developer Douglas Jemal—except for the small contractors he refuses to pay" by Angela Valdez April 12, 2007
^Washington Times: "Jemal guilty of wire fraud" October 26, 2006
^Washington Post: "Jemal Avoids Prison For Fraud" by Carol D. Leonnig" April 18, 2007
^Washington Business Journal: "No jail time for Jemal" April 17, 2007
^"Jemal Avoids Prison For Fraud". 2007-04-18. ISSN 0190-8286. Retrieved 2021-06-02.
^"Douglas Jemal Inducted Into Washington Business Hall Of Fame". December 5, 2019.
^"Statement from the Press Secretary Regarding Executive Grants of Clemency". whitehouse.gov. Retrieved 20 January 2021 – via National Archives.
^Buffalo Business First: "It's now official: One Seneca Tower has a new owner" by James Fink Sep 29, 2016
^Buffalo Business Journal: "CORE: Douglas Jemal and Seneca One Tower lead the region's development tally" By James Fink October 20, 2017
^"New life coming to downtown Buffalo's Statler". June 15, 2021.
^"Developer Doug Jemal planning to build a nine-story apartment building in Downtown Buffalo". September 13, 2021.
^"Jemal in "final stages" of negotiations to operate former Hotel Henry". July 29, 2021.
^"Douglas Jemal's Western New York holdings extend far and wide". June 9, 2021.
^"Developer Douglas Jemal buys bigger mansion on Nottingham". November 10, 2020.
^Washington Business Now: "DC's Top 10 Real Estate Dynasties Washington" by Ethan Rothstein August 07, 2015
^Washington Business Journal: "The next Jemal - As Norman Jemal's profile rises at Douglas Development, he eschews the limelight" February 7, 2014
External links
Douglas Development
February 09, 2023
douglas, jemal, born, november, 1942, real, estate, developer, landlord, founder, douglas, development, born, 1942, november, 1942, brooklyn, york, city, york, usanationalityamericanoccupationreal, estate, developerknown, forfounder, douglas, developmentco, fo. Douglas Jemal born November 30 1942 1 is a real estate developer landlord and the founder of Douglas Development 2 Douglas JemalBornDouglas Jemal 1942 11 30 November 30 1942 age 80 Brooklyn New York City New York USANationalityAmericanOccupationReal estate developerKnown forFounder of Douglas DevelopmentCo founder of Nobody Beats the WizSpouseJoyce GordonChildren6 Contents 1 Biography 1 1 Retail 1 2 Real estate 2 Buffalo real estate 3 Personal life 4 References 5 External linksBiography EditJemal was born to a Syrian Jewish family in South Brooklyn one of four sons and two daughters of Norman Jemal and Sally Chira a discount retailer in lower Manhattan 3 4 He dropped out of high school 1 Retail Edit His first foray into retail began in the 1960s when he and his younger brother Lawrence Jemal opened a store called Bargaintown in Washington D C and soon after a discount electronics store 3 In 1976 they returned to New York with their newfound expertise and along with two other brothers Marvin Jemal and Stephen Jemal founded the discount electronics chain Nobody Beats the Wiz the name of their father s favorite Broadway musical 3 Douglas sold his share back to the family in 1993 3 The chain went bankrupt in 1997 3 Real estate Edit Jemal took the proceeds and began investing in Washington D C real estate which was opportune as the city was in the midst of a down cycle 4 His success was compounded by the fact that he recognized that retail was under present in D C with half the national average of retail space per capita and focused his efforts on high end retailers 4 He is also known for borrowing heavily to support his purchases and paying his contractors late to fund even more purchases 4 Riding the wave of D C s gentrification he developed over ten million square feet of space through 2007 transforming the East End neighborhood near the Verizon Center the Navy Yard neighborhood on the Anacostia River near Nationals Park the Shaw neighborhood and Chinatown into lively areas of mix of retail restaurants and housing 1 2 He has been criticized for sitting on derelict properties rather than developing outright as well as and charging very high rents and forcing out long standing local tenants 3 His method of doing business led to numerous lawsuits and a federal investigation and charges 4 In July 2006 he was acquitted on federal charges of bribery conspiracy and tax evasion but convicted on the charge of wire fraud 2 4 5 The wire charge conviction involved the taking of a loan with his business partner and uncle of his son in law Joseph Cayre 4 Jemal took the proceeds from the loan and used it to support the purchase of another property unbeknownst to his business partner 4 He was sentenced to a 175 000 fine and received five years probation 6 7 As stated by Judge Urbina at the conclusion of the Sentencing Hearing One thing is clear Mr Jemal has devoted much of his adult life to good charitable causes Urbina said When I compare the valuable and worthwhile services repeat offenders provide to society and I see what Mr Jemal has done over the course of his lifetime it is inconceivable to me that I should impose the penalty proposed here Being fair means being fair 8 On December 5 2019 Jemal was inducted into the Washington Business Hall of Fame 9 On January 20 2021 Jemal received a pardon for his 2008 wire fraud conviction from President Donald Trump 10 Buffalo real estate EditIn 2016 he purchased One Seneca Tower the tallest building in Buffalo New York with plans to convert it into a mixed use development including retail restaurant hotel office and apartment components 11 12 The tower had been expected to have its renovations completed by the end of 2021 Jemal then went on to add the Hyatt Regency Hotel the former headquarters building of the Buffalo Police and the five story Mahoney state office building to his portfolio of Downtown Buffalo and in 2020 he acquired the Statler City complex in Buffalo following the death of its previous and local owner Mark D Croce which Jamal immediately began renovating 13 And Jemal plans to build a new nine story building at 61 Terrace Street in what is known locally as the Donut Lot 14 Further afield from the downtown area he purchased the 64 acre Boulevard Mall with major urban renewal plans for the property and is negotiating a long term lease to run and update the Hotel Henry on the Richardson Olmsted Campus 15 16 since renamed The Richardson Hotel In 2020 Douglas Jemal purchased a 1 425 million house in the Nottingham Terrace area of Buffalo 17 Personal life EditJemal e sons Norman Jemal and Matthew Jemal are now active in the real estate business 18 19 His daughter Kim Jemal Cayre is married to the nephew of New York real estate developer and record producer Joseph Cayre 4 Jemal his wife and four daughters live in New Jersey citation needed References Edit a b c ENR Mid Atlantic D C Based Developer Focuses on Historic Preservation Douglas Development Corp has made a name for itself investing in preservation and redevelopment in Washington D C neighborhoods by Justin Rice April 11 2017 a b c Leonnig Carol D Hedgpeth Dana 27 October 2006 D C Jury Acquits Jemal of Bribery The Washington Post a b c d e f Crains New York Nobody Beats the Wiz family s fall The Jemal brothers struggle to re create their days of discount chain glory by Aaron Elstein By Aaron Elstein April 13 2014 a b c d e f g h i Washington City Paper The Right Stuff Everyone loves developer Douglas Jemal except for the small contractors he refuses to pay by Angela Valdez April 12 2007 Washington Times Jemal guilty of wire fraud October 26 2006 Washington Post Jemal Avoids Prison For Fraud by Carol D Leonnig April 18 2007 Washington Business Journal No jail time for Jemal April 17 2007 Jemal Avoids Prison For Fraud 2007 04 18 ISSN 0190 8286 Retrieved 2021 06 02 Douglas Jemal Inducted Into Washington Business Hall Of Fame December 5 2019 Statement from the Press Secretary Regarding Executive Grants of Clemency whitehouse gov Retrieved 20 January 2021 via National Archives Buffalo Business First It s now official One Seneca Tower has a new owner by James Fink Sep 29 2016 Buffalo Business Journal CORE Douglas Jemal and Seneca One Tower lead the region s development tally By James Fink October 20 2017 New life coming to downtown Buffalo s Statler June 15 2021 Developer Doug Jemal planning to build a nine story apartment building in Downtown Buffalo September 13 2021 Jemal in final stages of negotiations to operate former Hotel Henry July 29 2021 Douglas Jemal s Western New York holdings extend far and wide June 9 2021 Developer Douglas Jemal buys bigger mansion on Nottingham November 10 2020 Washington Business Now DC s Top 10 Real Estate Dynasties Washington by Ethan Rothstein August 07 2015 Washington Business Journal The next Jemal As Norman Jemal s profile rises at Douglas Development he eschews the limelight February 7 2014External links EditDouglas Development Retrieved from https en wikipedia org w index php title Douglas Jemal amp oldid 1137506916 Real estate, wikipedia, wiki, book, books, library,
