SSJ Development to Build Luxury Waterfront Homes In Brooklyn

BROOKLYN, N.Y. – January 28, 2006 – As part of its efforts to revitalize the
Brooklyn waterfront, SSJ Development, LLC today announced plans for the development
of 10 luxurious waterfront homes along Mill Basin at East 66th Street and Dakota
Place in Brooklyn.

“We are creating an exclusive neighborhood at the former site of the Bergen Beach
Yacht Club,” said Stephen S. Jemal, president of SSJ Development, LLC. “Each of
these quality homes with waterfront views will have its own boat slip to further
connect its residents to the water. This development will add to the already
spectacular homes that comprise the Mill Basin neighborhood.”

The $20 million investment calls for the development of 10 three-story homes with
cellar level garages that range from 2,500 square feet to 3,200 square feet. Each
home will be detailed with the charm that exemplifies the Mill Basin neighborhood.
With expansive windows to take in the sweeping waterfront views, professional
kitchens, luxurious master bedroom suites with vaulted ceilings, porches, balconies
and all modern amenities, each home will provide its residents with an exceptional
quality of life.

The development is located in one of the quaintest sections along the Mill Basin
waterfront. It is less than two miles from Kings Plaza, the largest indoor shopping
mall in Brooklyn. Together with the docks and communal pool, the development will
provide its residents with an outdoor recreational lifestyle rare in Brooklyn.

Construction of the development is anticipated to begin in late summer, and it is
expected to be completed within a year. Pre-construction prices will begin at
$1.695 million. When completed, the community will be known as “The Riviera®
Estates at Mill Basin.”

“This development is the first step in my quest to bring The Riviera ® to
Brooklyn, to revitalize this neglected waterfront area and to bring its residents
some welcome tax relief. It is my mission to restore Brooklyn to its long forgotten
prominence as a place that celebrates its water’s edge,” Jemal said. “I hope
our plan for The Riviera® Estates at Mill Basin encourages other waterfront
developers in New York to build stronger communities and to reclaim our shore
areas.”

SSJ Development, LLC has developed more than six million square feet of shopping
centers, and office space throughout the Northeast corridor over the last 30 years.
SSJ Development, LLC, known for The Riviera® brand is currently building The
Riviera® at Cape May in the City of Cape May, NJ. It has also been involved in
numerous developments in waterfront communities in Roosevelt Island, Long Island,
Brooklyn and Queens, New York as well as others throughout New Jersey. For more
information, please visit www.ssjdevelopment.com.

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