SSJ Development Closes on Largest Contiguous Waterfront Property on Gerritsen Beach

GERRITSEN BEACH, N.Y. – May 25, 2006 – Officials with SSJ Development LLC today announced they have taken ownership of the largest contiguous waterfront property in the Gerritsen Beach section of Brooklyn, NY.

The three-acre property, located on Shell Bank Creek, is situated in the quaint beach and fishing community of Gerritsen Beach. When complete, The Riviera® at Gerritsen Beach will offer 32 single- and two-family townhouses overlooking renovated docks and a dockside pool.

“Our plan for The Riviera® at Gerritsen Beach is just one example of our redevelopment efforts to give all Brooklyn residents a revitalized waterfront they can be proud of,” said Stephen S. Jemal, president of SSJ Development LLC and a Brooklyn resident. “The Riviera® at Gerritsen Beach will provide all residents with a truly exceptional and luxurious quality of life.”

The Riviera® homes, ranging from 700 to 2,300 square feet, will offer residents a relaxed waterfront lifestyle surrounded by every convenience. Homes will feature open floor plans with light-filled living spaces, cathedral ceilings, a garage and balconies with spectacular water views.

Likely the project’s greatest draw will be the renovated docks, boat slips and waterfront swimming pool on Shell Bank Creek. These communal areas will allow all residents the opportunity to reconnect with the water.

“We are planning a stunning, residential development along the creek, so many new families can experience the truly relaxing lifestyle of waterfront living,” Jemal said. “With the addition of the renovated docks, residents from the entire community can enjoy their waterfront.”

SSJ Development LLC is involved in plans to redevelop other areas of Brooklyn’s waterfront, including Bensonhurst, Bergen Beach, Mill Basin and Sheepshead Bay.

SSJ Development LLC, known for the Riviera® brand, is also building The Riviera® at Sheepshead Bay and The Riviera® Estates at Mill Basin in Brooklyn, N.Y. as well as The Riviera® at Cape May and The Riviera® Estates at Cape May in New Jersey. Over the years, SSJ Development LLC has been involved in numerous developments in waterfront communities in Brooklyn, Queens and Roosevelt Island, N.Y. and others throughout New Jersey and Maryland. In addition to the residential developments, SSJ Development LLC has built more than six million square feet of shopping centers, distribution centers and office space throughout the Northeast over the last 30 years. For more information, visit www.ssjdevelopment.com.


-30-