JEMB Realty Corporation was founded by Morris Bailey and Joseph L. Jerome in 1990. JEMB Realty is a three-generation strong, family-run, progressive real estate development, investment and management firm based in New York City. Long established in the industry for its entrepreneurial strength, drive and determination while ensuring a clear presence in a number of North American cities, the firm continues to seek out new innovative business challenges and investment opportunities across the continent.
Well respected leader in the real estate sector, JEMB Realty in 2015 founded Resorts Digital Gaming, a leading online gaming company. JEMB was one the first companies to embrace online gaming and sports betting in the United States, strategically partnering with two of the largest digital gaming companies in the world.
Expanding into the lending sector in 2009, JEMB co-founded Basis Investment Group, a commercial real estate investment manager, primarily focused on debt and structured equity strategies, providing borrowers and investment partners with a one-stop shop for financing along with customized solutions for investment needs.
In the early 2000s the company recognized an opportunity for diversification within the energy sector, through its investment in Astoria Energy and is extremely pleased to have been part of the Astoria Energy projects from their inception, through the construction period and into the operational phase, providing reliable electricity to New York City, its corporate home. The company sold its interests in the Astoria Energy generating facilities in 2020.
JEMB Realty has also branched out into the telecommunications sector, through its interests in Xentris Wireless.
Throughout his 50 years in business, Morris Bailey has made his mark as an entrepreneur, building a portfolio of balanced and diversified investments, most notably in the real estate, lending, gaming, energy, and telecommunications sectors. Through his commanding leadership and strategic vision, he has compiled an impressive track record of successful business ventures in the United States and Canada.
He is the founder of JEMB Realty and Helm Equities headquartered in New York City, and of Canadian affiliate, BUSAC Real Estate, based in Montreal; three prominent real estate development, investment and management organizations. Morris Bailey along with partner, Joseph L. Jerome, have emerged as major players in both the American and Canadian commercial real estate sectors. Together they have earned solid reputations as “hands-on” business people who understand value enhancement through the development and repositioning of real estate assets.
Over the past 10 years, Morris Bailey has been a leader in his turnaround of Atlantic City, repositioning the famous Resorts Casino Hotel, as well as the first to embrace online gaming and sports betting in the United States, strategically partnering with two of the largest digital gaming companies in the world. In 2015, he founded Resorts Digital Gaming, a leading online gaming company. His efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States.
Morris Bailey also expanded in the lending sector in 2009, co-founding Basis Investment Group, a commercial real estate (CRE) investment manager, primarily focused on debt and structured equity strategies. Basis originates and acquires diversified CRE debt investments across the capital stack of stabilized, transitional, and development assets throughout the United States. The company’s flexible approach to structuring provides borrowers and investment partners with a one-stop shop for financing along with customized solutions for investment needs.
Visionary leader, in the early 2000s Morris Bailey recognized an opportunity and expanded into the energy sector, through Astoria Energy. He led the consortium that put up the development capital for the Astoria Energy generating facilities in 2003 and remained one of its guiding board members for almost two decades, especially through the extremely complex sale process of the companies in 2020. Morris Bailey is extremely pleased to have been part of Astoria Energy projects providing many years of reliable electricity to New York City, its corporate hometown.
Morris Bailey is also involved in the telecommunications sector through his investment in Xentris Wireless.
He continues to proudly build successful partnerships with many notable financial institutions and associates while seeking out new and innovative business models and investment opportunities across North America. A pillar of the community, he is also actively involved in local organizations and countless charities.
Joseph L. Jerome is a seasoned veteran of the real estate industry. His extensive background encompasses leasing, financing, construction and the innovative repositioning of assets. Mr. Jerome holds a New York State Brokers License and is a member of the Real Estate Board of New York. Along with partner Morris Bailey, he founded JEMB Realty Corporation acquiring a diverse portfolio of real estate assets in the United States. Under Joseph L. Jerome’s leadership, the company has experienced steadfast growth to become a well-known and highly respected player in the US real estate market. In the late 90’s the partners entered the Canadian real estate market, founding BUSAC Real Estate, which rapidly became one of Quebec’s pre-eminent corporate real estate firms. Today, JEMB Realty and BUSAC Real Estate operate and manage office towers, shopping centers and residential complexes totaling in excess of 6.5 million square feet across North America. Current properties in the portfolio are located in the Greater New York Region, Pennsylvania and Montreal, Canada. From a leadership position as President of JEMB Realty Corporation, Joseph L. Jerome has been involved in numerous lease and purchase transactions as well as asset repositioning projects. The variety of assets and high profile of the group’s properties bear witness to its stability and firm resolve to distinguish itself in the marketplace.
Morris’s main responsibilities are commercial asset management and growth for JEMB Realty. As such, he oversees assets and acquisitions in the United States. He provides overall leadership to JEMB property management teams in the New York Region and is involved in the development of new projects, based on input from the operational side and customer appeal aspect. An integral part of the corporate team, Morris provides innovative vision to the company. Introduced to the industry early in his youth, he has acquired broad experience in real estate property management. This in-depth understanding enables him to envision a more strategic and creative approach while exercising sound judgment in identifying and evaluating opportunities for value creation. At JEMB, we promote a team-based culture, solid leadership and the continued fostering of strategic relationships with leading partners.
Louis is responsible for residential property, hospitality management and acquisitions in the United States. Be it in New York, Annapolis or Pocono Manor, he and his team strive to fulfill JEMB’s mission of delivering exceptional hands-on services and solutions, identifying opportunities to upgrade property offerings for asset stability, performance, tenant satisfaction and retention, while exceeding customer expectations. A proud graduate of NYU, Louis has consistently demonstrated strong leadership skills, successfully navigating challenging situations. He oversees every facet of residential property operations, employing data-driven techniques to achieve organizational and structural efficiencies to best execute customer-based strategies. Strong personal relationships with tenants are the foundation, enhancing property values and bettering the lifestyle of residents and guests. A commitment to service excellence with a personal touch, make JEMB your partner of choice.
Jacob is actively involved in the leasing and promotion of office and retail spaces for the New York Region of JEMB’s Realty portfolio. Office and commercial platforms are structured around a unique service culture at JEMB Realty; one that places tenant success and customer experience at the forefront. Jacob works in close collaboration with JEMB’s property management team to determine the most favorable solutions for tenants to help their businesses thrive, be it office or retail. He is involved in the development and implementation of new leasing strategies, transaction negotiations, the analysis of potential tenant needs and the negotiation of contractual agreements. With pertinent leasing transactions to his credit, Jacob’s long-standing interest in commercial real estate and strong leadership capabilities make him a definite asset to JEMB.
Mark joined Resorts Casino Hotel in 2012 and brought more than 30 years of Atlantic City gaming expertise. As President and CEO of Resorts, he is the principal strategic business leader of the property and responsible for the vision, mission and overall direction of the organization. He oversees operations for the entire property in accordance with the objectives set out in the strategic plan, while garnering strong knowledge of markets and industry trends to maintain Resorts as a highly competitive travel destination in Atlantic City. Mark promotes best practices and superior guest service.
Under his leadership, Resorts Casino Hotel has carried out over $100 million in improvements ensuring gaming products and services appeal to a younger demographic, while continuing to provide current customers with the products and services they request.
Dennis is responsible for overseeing and managing development projects in the JEMB Realty portfolio. He headed up the development of 1 Willoughby Square, a 34-story, 500,000 square-foot office tower located in Downtown Brooklyn, built to the highest of architectural standards, and he is now responsible for the repositioning of Herald Towers, in Herald Square. Dennis is also actively involved in the strategic expansion of the company, assisting the Executive in identifying valuable development and redevelopment opportunities in the United States.
In his capacity as Director of Construction, Andrew is actively involved in the 11 Ocean Parkway project – a new 375-unit residential development in Brooklyn – new fit outs at the 1 Willoughby Square property and other Capital Improvement projects.
As Senior Executive Head of Operations, Andrew oversees and is responsible for all activities relating to property operations and construction for JEMB properties in New York. In this capacity, he provides professional guidance to all Assets Managers under his supervision, oversees all financial resources and identifies, analyzes and prioritizes all investment projects under his purview, overseeing their development and implementation. Andrew also assists the executive in their long-term strategies for daily property management, repositioning of real estate assets, major commercial and infrastructure strategies, construction projects as well as financial structuring and reporting processes.
The Residential High Rise Manager is responsible for the Herald Towers residential property located in famous Herald Square. In this capacity he oversees administration, financial, operations and ensures the property is compliant with all applicable regulations. The Residential High Rise Manager also recommends and coordinates improvements to the property to ensure a safe, functional, and appealing environment for all commercial and residential tenants. Always attentive and responsive to tenants needs, he maintains an extremely high standard of tenant service, thus ensuring high tenant retention.
The Asset Manager is responsible for managing all aspects of the 75 Broad, the 150 Broadway and the Herald Center properties in Downtown Manhattan. He takes on duties relating to Administration and Real Estate Operations. He assists the Senior Executive Head of Operations in elaborating and implementing continuous improvement processes to enhance quality of services. The Asset Manager also develops and maintains strong business relationships with tenants and ensures the needs of tenants are met and superior customer service is provided. In addition, he works with the Head of Operations in construction projects, serving as liaison between landlord and tenant during the construction process to ensure a successful build-out and smooth move-in.
Tee, as Assistant Property Manager of 1 Willoughby Square (1WSQ) office tower in Brooklyn, is responsible for managing all aspects of the property. She is currently working with the Development Department in the preparation of a smooth and welcoming project-to-operations transition, serving as liaison between landlord and tenant. Concomitantly, she has taken on duties relating to Administration and Real Estate Operations, assisting the Senior Executive Head of Operations in elaborating and implementing processes to ensure the needs of tenants are met and superior management and customer service are provided.