"The Jemal family has quietly cashed out of a newly built single-family home in Midwood, with public records showing a mid-eight-figure sale price that sits well above most neighborhood deals."
"According to The Real Deal, Samuel and Isaac Jemal sold 1151 East Seventh Street to 18 Midwood Owner LLC for about $13.6 million, more than four times what the family paid in 2016."
"The home's scale and new construction are still unusual for single-family deals in the area, which helped push the final number above typical Midwood comps."
"Locally, the Jemal name is most closely tied to JJ Operating's commercial real estate, but the Midwood deal highlights how the family moves between residential and commercial plays."
The Jemal family sold a single-family home in Midwood for about $13.6 million, a price exceeding their 2016 purchase of roughly $3 million. The sale occurred off-market through a shell LLC, with the buyer's identity undisclosed. The property, completed in 2021, spans 4,556 square feet on a 4,820-square-foot lot. The significant price increase reflects the home's new construction and scale, which are atypical for the area. The Jemal family is known for their commercial real estate ventures, including a notable property at 2501 Grand Concourse in the Bronx.
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