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JDS Development Group

104 Fifth Avenue
New York, NY 10011
(212) 974-2844
JDS Development Group
JDS Development Group is a privately held New York City-based real estate development and acquisition firm. The firm was founded in TK by Michael Stern and specializes in luxury residential, hospitality, and mixed-use projects and has more than 7 million square feet of property under development. Among its recent projects are 111 West 57th Street, 626 First Avenue, and the record-setting Walker Tower in Chelsea (where a sold penthouse clocked in at more than $50 million). JDS has had clashes with unions in recent years, even being used as a poster child for “irresponsible practices” in 2015 by New York City laborer unions over its use of non-union labor in erecting one of the city’s tallest towers, located at 111 West 57th Street. JDS also has focused across the East River, building or buying smaller-scale residential and mixed-use properties in Brooklyn and partnering with the Chetrit Group on larger-scale projects in that borough. The firm also has acquired lots for development in Miami’s South Beach.
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...at breakneck speed is Michael Stern, the 36-year-old head of JDS Development Group...

June issue ft
Go to any real estate event or panel discussion over the past year and the topic is sure to come up: millennials. Who are they?...

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Developers Michael Stern and Michael Rudin discussed their firms’ respective projects in Brooklyn on Wednesday morning, including Stern’s planned supertall residential tower in Downtown Brooklyn...

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...a beautiful night, with guests including Jeff and Joseph Sutton, JDS Development Group’s Michael Stern and Slate Property Group’s Martin Nussbaum...

...and Jared Kushner) Kushner Companies is a mezzanine lender on JDS Development Group...

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...quiet these days. In March, developers Property Markets Group and JDS Development Group confirmed that the once-imminent sales launch at the 60-unit tower...

...pan out due to unfavorable ratings, while Michael Stern’s JDS Development Group went through the roadshow, but decided not to go through...

...investor in 111 West 57th Street, filed a $105 million lawsuit against JDS Development Group and Property Markets Group, alleging the developers engaged in a...

A rendering of 111 West 57th Street
...from left: Kevin Maloney and Michael Stern) Michael Stern’s JDS Development Group and Kevin Maloney’s Property Markets Group are facing a...

...Stern may be trying something similar with Gary Barnett. The JDS Development Group leader followed Extell Development's chief to Billionaires' Row and to...

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Moving Madison Square Garden a few blocks away to make for the redeveloped, above-ground Penn Station may seem romantic, but it’ll also be very, very...

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Some of the city’s most prominent developers and designers are vying for a challenge put forth by Gov. Andrew Cuomo: Make Penn Station less hellish....

American Copper Buildings
...but soon there will be one more in the mix. JDS Development Group...

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...in Kips Bay (credit: MARCH) New renderings are out for JDS Development Group’s American Copper Buildings residential development in Kips Bay, and...

Brooklyn’s future tallest building is on its way — on Tuesday, the Landmarks Preservation Commission approved changes to the adjacent former Dime Savings Bank. Tags: 340...

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A shift in the market for luxe apartments is already leading some developers to switch up their marketing teams. In the first of what insiders...

Michael Stern
...Real Deal's Real Estate Showcase and Forum in Toronto, the JDS Development Group CEO said his firm used the Dime Saving Bank of...

It sure was fun for developers while it lasted. But those now bringing new product to Manhattan have more tempered expectations. The overall projected sellout...

Canadians may be super polite and always saying sorry, but they won’t apologize for their sizable real estate bets: The country is the largest investor in...

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...th Street could be lying idle for quite a while. JDS Development Group and Property Markets Group will wait about a year before...

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Billionaires’ Row isn’t for everyone. The Related Companies has no interest in doing condominium deals on or around the crowded 57th Street corridor, CEO Jeff Blau...

...U.S. and Canadian real estate, including Michael Stern of JDS Development Group, Carlos Rosso of Related Group, Phil Soper of Canadian mega...

We’re less than one week away from The Real Deal‘s first-ever Real Estate Showcase and Forum in Toronto! Tags: Toronto ...

We’re less than one week away from The Real Deal‘s first-ever Real Estate Showcase and Forum in Toronto! ...

We’re less than one week away from The Real Deal‘s first-ever Real Estate Showcase and Forum in Toronto! Tags: canada, The Real Deal ...
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  • Event Financing
  • Building Name 109-113 West 57th Street
  • Address 109 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
A $230 million loan was provided for the acquisition of the property. The one-year, interest-only loan features a fixed rate and two six-month extension options. As part of the deal, JDS Development Group, together with partner Property Markets Group, also recapitalized and consolidated its existing development site at 105-107 West 57th Street. Comm. building.
  • Event Sales
  • Address 616 First Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 880,000
  • Price $ 172,130,000
The full block sold for $172.13 million. The buyers plan to build two apartment towers totaling 800 units.
  • Event Financing
  • Address 435 West 50th Street
  • Neighborhood Clinton
  • Borough Manhattan
A $45 million construction loan was provided for the new luxury condos, the Wall Street Journal reported. The developers plan to begin sales later this year, according to the paper. 71-unit apartment building.
  • Event Sales
  • Address 105 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 40,000,000
  • Publication Date 07/01/2012
  • Event Date 05/22/2012
  • Party 1 Starwood Capital
  • Party 2 JDS Development Group
The majority interest in the development site sold for $40 million. The buyer plans to break ground on a new 100,000-square-foot, mixed-use retail and luxury residential project in the spring or early summer.
Manhattan, 10011
JDS Development Group|Property Markets Group
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Manhattan, 10011
JDS Development Group|Largo Investments, 514 WEST 24TH OWNER LLC
Manhattan, 10019
JDS Development Group|Property Markets Group, 435 WEST 50 PROPERTY OWNER, L.P.

New York City has, for quite some time, been the world’s most dynamic and high-stakes real estate market. But 2015 pushed all the elements that...

In the high-stakes world of Manhattan real estate, agents tend to fall into two camps — those brokering sales in glitzy new condo buildings and...

The wave of new developments hitting the market is changing more than just the skyline. It’s also shifting the fortunes of the firms that specialize...

The $118.5M listing at the Ritz Carlton
This year may not be over yet, but the real estate records are already piling up. The year kicked off with city office asking rents...
Manhattan, 10011
JDS Development Group|Largo Investments, 514 WEST 24TH OWNER LLC
Manhattan, 10019
JDS Development Group|Property Markets Group, 435 WEST 50 PROPERTY OWNER, L.P.