JDS Development Group | The Real Deal New York

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JDS Development Group

104 Fifth Avenue
New York, NY 10011
(212) 974-2844
Website
info@jdsdevelopment.com
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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  • Event Financing
  • Building Name 109-113 West 57th Street
  • Address 109 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
notes
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 Financing
  • Address 435 West 50th Street
  • Neighborhood Clinton
  • Borough Manhattan
notes
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
notes
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.
  • Event Sales
  • Address 616 First Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 880,000
  • Price $ 172,130,000
notes
The full block sold for $172.13 million. The buyers plan to build two apartment towers totaling 800 units.
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