The Real Deal New York

Posts Tagged ‘JDS Development Group’

  • From left:

    From left: PMG’s Kevin Maloney, JDS’s Michael Stern and a rendering of the 57th Street tower

    From the December issue: In the course of reviewing architecture in New York City and elsewhere, I find that most buildings inspire in me either appreciation of their beauty, anger at their ugliness, or indifference to their banality. But the new condo tower planned on 57th Street between Sixth and Seventh avenues inspires something very different in me: fear. [more]

  • Newly revamped facade at the Walker Tower at 212 West 18th Street

    New facade at the Walker Tower at 212 West 18th Street

    Verizon is marketing a former telephone-exchange building on West 36th Street near Seventh Avenue as a potential hotel site, a continuation of the push by the communications giant to cash in on its prime Manhattan real estate. Indeed, since 2005, parts or all of 14 properties in the borough have been sold or are in contract. [more]

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  • ariel-property-advisors

    Shimon Shkury and 202 8th Street in Gowanus

    Institutional sales drove big gains in the New York City multi-family market in September, as the dollar volume of transactions climbed 71 percent year-over-year, according to a monthly report from Ariel Property Advisors.

    There were 53 deals comprised of 110 buildings totaling about $657 million in September. The number of deals rose a mere 6 percent from 50 sales in September 2012, but the total value nearly doubled from $384.6 million. [more]

  • 107 West 57th Street rendering

    107 West 57th Street rendering

    JDS Development and Property Markets Group’s plans for a super skinny 1,350-foot tower designed by SHoP Architects were met warmly by the Landmarks Preservation Commission. [more]

  • Michael Stern (inset), a rendering of 107 West 57th Street (Credit: SHoP Architects). and Kevin Maloney (inset)

    Michael Stern (inset), a rendering of 107 West 57th Street (Credit: SHoP Architects) and Kevin Maloney (inset)

    Michael Stern’s JDS Development and Property Markets Group are planning a skinny skyscraper condominium on West 57th Street which will be 100 feet taller than the Empire State Building and even soar over Gary Barnett’s One57.

    The joint venture submitted plans last month to the city’s Landmarks Preservation Commission that call for a roughly 1,350-foot building that, akin to a series of steps, sets back from the street as it rises higher, according to the Wall Street Journal. It is still unclear if the venture has obtained financing for the project, to be located at 107 West 57th Street. [more]

  • From left: Bob Knakal, 202 8th Street and Michael Stern

    From left: Bob Knakal, a rendering of 202 8th Street and Michael Stern

    JDS Development and Property Markets Group have sold 202 8th Street to Werber Management for $37.75 million, after nearly fully leasing out the luxury Gowanus rental building. [more]

  • sheldon-solow-doegoe-rendering

    Sheldon Solow and Doegoe rendering of First Avenue project between East 38th and East 41st streets

    The clock is ticking for billionaire developer Sheldon Solow and his long-dormant, six-acre lot between East 38th and East 41st streets on First Avenue. He could lose his permits and public approvals for a $4 billion project if he does not build a foundation for the office building or one of several apartment towers by November, the New York Times reported. [more]

  • A rendering of JDS' East Side project (courtesy SHoP Architects)

    A rendering of JDS’ East Side project (courtesy SHoP Architects)

    Updated, 5:29 p.m, August 2: Michael Stern’s JDS Development is in talks to buy Sheldon Solow’s remaining two parcels of land on the East Side of Manhattan, having earlier purchased one of the parcels for $172.5 million, the New York Times reported. [more]

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  • Old Westbury Gardens in Old Westbury, N.Y. (Source: Flavorwire)

    JDS confirms West 57th Street project will be 900 feet tall, making it Manhattan’s third tallest residential tower. Shake Shack coming to Grand Central Terminal, after long struggle involving lawsuits and evictions. Donald Trump helps sets up crowdfunding website to compete with Kickstarter. Twenty mansions Jay Gatsby probably would have owned: PHOTOS. Prospect Lefferts Gardens brownstone in contract for $1.85M, which would be highest-record sale. Read these stories and more after the jump.

  • Walker Tower penthouse interior

    Developers of condos in Manhattan are responding to steeply escalating demand by raising prices on unbuilt units as often as twice a month, Bloomberg News reported. At the same time that home sales hit a decade high in the fourth quarter, Manhattan’s inventory of homes for sale dropped to its lowest levels in at least 12 years, according to appraisal firm Miller Samuel…. [more]

  • Solow sells $200M plot to JDS

    January 30, 2013 09:30AM

    Sheldon Solow

    In one of the largest land deals in years, Sheldon Solow has reached an agreement with a consortium led by JDS Development Group to sell a parcel of land overlooking the East River for roughly $200 million, the Wall Street Journal reported. The full-block piece of land is zoned for residential use, and sources told the Journal that JDS intends to build a 37-story tower and a 47-story tower on the site, with a total of more than 830 units. The deal is being financed primarily by a $125 million loan from UBS. The parcel being sold is the smaller of two plots totaling nine acres that Solow bought in 2005 from Con Edison for $630 million… [more]

  • The former Verizon building at 435 West 50th Street

    JDS Development Group and Property Markets Group have secured $45 million in financing for their luxury condominium development in the former Verizon building in Hell’s Kitchen, indicating that banks are becoming more receptive to condo projects, the Wall Street Journal reported. The partnership, which acquired the upper floors of the Ralph Thomas Walker-designed telephone building at 435 West 50th Street for over $25 million in 2011, aims to convert the upper floors into 71 luxury condos, as The Real Deal previously reported. Starwood Capital will supply additional equity…. [more]

  • Skinny apartment towers on the rise

    November 16, 2012 08:30AM

    One Madison Park

    They say you can never be too rich or too thin — real estate is no different. Increasingly skinny apartment towers are growing all over New York City, the Wall Street Journal reported.

    While generally residential towers have been at least 10,000 square feet wide, these days architects are eschewing that convention, the paper said. For example, 432 Park Avenue, designed by Rafael Viñoly, is expected to have approximately 8,250-square-foot floors, while One57 has floors as small as 6,240 square feet. And, towering above Madison Square Park, is the Cetra/Ruddy-designed One Madison Park, with its tiny 3,300-square-foot floors. [more]

  • Renderings of 202 8th Street (inset: Michael Stern)

    A 51-unit rental building is rapidly taking shape at 202 8th Street, an L-shaped lot in Gowanus that was originally slated for condominiums when developers JDS Development Group and Property Markets Group acquired the site in 2008.

    Construction crews completed the 12-story superstructure this week, and the developers have scheduled a small “topping off” ceremony for next Friday, Michael Stern, the managing partner of JDS, said. While superstitious builders may have shied away from the inauspicious date, Stern embraced it. “You can’t forget Friday the 13th,” he said. [more]

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