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 2002 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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For Robin Schneiderman, winning new assignments is all about the money. But not the money going into his pocket. Schneiderman, of Halstead Property Development Marketing,...

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10/31/16
...at least March — not May, as suggested. A spokesperson for JDS Development Group, which developed the project along with Property Markets Group, declined...

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10/13/16
Equity Residential agreed to pay $250,000 in rent credits to overcharged tenants of a Downtown Brooklyn apartment building, according to the state. The real estate...

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10/05/16
...Barnett’s rivals have decided to wait out the slowdown. JDS Development Group and Property Markets Group delayed sales at their skinny supertall...

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09/28/16
New York’s real estate industry still has an aristocracy of born-rich developers, but its dominance over the business is receding – and to Michael Stern,...

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09/08/16
Kudos to Trevor Noah for surviving his first year in New York City. Tags: Celebrity Homes, stella tower ...

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As far as trends among residential developers go, hyping an apartment building with its LEED certification may be going the way of the fedora. Tags:...

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09/07/16
...loan transactions — the largest being a $725 million construction loan for JDS Development Group and Property Markets Group’s supertall tower at 111 West 57th...

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08/30/16
Tech investor Arthur Becker is now the proud owner of three adjacent townhouses on Sullivan Street in Soho in exchange for his stake in the...

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08/16/16
A Property Markets Group executive finally shed his duplex at Walker Tower by selling it to Kayak.com CEO Steven Hafner for $24 million. Tags: walker...

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08/15/16
Three projects planned for Two Bridges have narrowly dodged a lengthy land use procedure. Tags: 247 Cherry Street, city planning commission, One Manhattan Square ...

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...High Line project will probably look a little familiar to JDS Development Group. (more&hellip...

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A rapidly-evolving skyline like New York’s means the supply of Instagram-worthy locations is always being replenished. Soaring supertalls and glitzy retail spaces are inspiring locals and...

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08/01/16
...Tucker Reed and Jessica Lappin When Tucker Reed learned of JDS Development Group’s plans to bring a 1,000-foot tower to Downtown Brooklyn...

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07/29/16
(Editor’s Note: This story first ran on March 24, 2016.) TRD Special Report: On December 10, 2013, regulators summoned the nation’s biggest title insurance firms...

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07/18/16
UPDATED, 6:15 p.m., JUL 18 Many of the biggest players in New York real estate have expressed their support for Donald Trump. But now, they’re backing...

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UPDATED, 5:49 p.m., July 15: Property Markets Group is in contract to acquire a development site with 332,000 buildable square feet along the Gowanus Canal...

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07/11/16
In an era of soaring glass skyscrapers, some developers are using a vintage look to set their buildings apart and close deals in a tightening...

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When 15 Central Park West was set to kick off construction in 2005, the building’s co-developer William Zeckendorf made what would turn out to be...

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06/27/16
...at breakneck speed is Michael Stern, the 36-year-old head of JDS Development Group...

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06/23/16
UPDATED: June 23, 4:12 p.m.: Without breaking much of a sweat, LA Fitness CEO Louis Welch sold his Walker Tower penthouse condominium unit for $45 million,...

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  • Event Retail Leasing
  • Address 9 Dekalb Avenue|340 Flatbush Avenue Extension
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Price $ 185,000,000
notes
A $185 million combined loan was arranged for the two buildings.
  • Event Residential Sales
  • Building Name 212 West 18th Street
  • Address Unit 15A, 212 West 18th Street
  • Unit 15A
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 2,428
  • Price $ 13,725,000
  • Price per foot $ 5,652.80
  • Publication Date 05/12/2015
  • Event Date 04/30/2015
  • Party 1 JDS Development Group
  • Party 1 Entity Smj 210 West 18 LLC
  • Party 1 Entity Wt 15A LLC
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 12E, 425 West 50th Street
  • Unit 12E
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,410
  • Price $ 1,725,934
  • Price per foot $ 1,224.07
  • Publication Date 04/20/2015
  • Event Date 03/26/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Realmuto, Robert; Wright, Gayle
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 10F, 425 West 50th Street
  • Unit 10F
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,821
  • Price $ 4,582,125
  • Price per foot $ 2,516.27
  • Publication Date 04/09/2015
  • Event Date 03/25/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 1 Entity 425 West 50Th Street LLC
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 15G, 425 West 50th Street
  • Unit 15G
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,380
  • Price $ 1,807,394
  • Price per foot $ 1,309.71
  • Publication Date 03/24/2015
  • Event Date 03/18/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Cohen, Mitchell
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 10H, 425 West 50th Street
  • Unit 10H
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 699
  • Price $ 729,067
  • Price per foot $ 1,043.01
  • Publication Date 04/03/2015
  • Event Date 03/18/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 1 Entity Stella 10H LLC
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 16E, 425 West 50th Street
  • Unit 16E
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,355
  • Price $ 2,087,413
  • Price per foot $ 1,540.53
  • Publication Date 03/25/2015
  • Event Date 03/16/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Greer, Julia
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 12B, 425 West 50th Street
  • Unit 12B
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 660
  • Price $ 840,056
  • Price per foot $ 1,272.81
  • Publication Date 04/03/2015
  • Event Date 03/16/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Baltaci, Mehmet M
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 16B, 425 West 50th Street
  • Unit 16B
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,412
  • Price $ 2,540,534
  • Price per foot $ 1,799.24
  • Publication Date 04/06/2015
  • Event Date 03/13/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Kutucular, Emin E
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 12C, 425 West 50th Street
  • Unit 12C
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,676
  • Price $ 3,767,525
  • Price per foot $ 2,247.93
  • Publication Date 03/24/2015
  • Event Date 03/13/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 1 Entity Iron Tailor LLC
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 12D, 425 West 50th Street
  • Unit 12D
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,020
  • Price $ 1,344,090
  • Price per foot $ 1,317.74
  • Publication Date 03/25/2015
  • Event Date 03/11/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Orlando, Jacinta; Samios, Gus
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 12G, 425 West 50th Street
  • Unit 12G
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,599
  • Price $ 3,665,700
  • Price per foot $ 2,292.50
  • Publication Date 03/24/2015
  • Event Date 03/11/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 1 Entity Westbury Holdings
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 10E, 425 West 50th Street
  • Unit 10E
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,513
  • Price $ 2,851,100
  • Price per foot $ 1,884.40
  • Publication Date 03/18/2015
  • Event Date 03/10/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Karabag, Mehmet Can
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 14A, 425 West 50th Street
  • Unit 14A
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 992
  • Price $ 2,240,150
  • Price per foot $ 2,258.22
  • Publication Date 03/13/2015
  • Event Date 02/04/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Hatton, Bruce R; Young, Thomas F
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 10J, 425 West 50th Street
  • Unit 10J
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,043
  • Price $ 1,181,170
  • Price per foot $ 1,132.47
  • Publication Date 02/20/2015
  • Event Date 01/30/2015
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Barron, Pacey; Barron, Vickey
notes
[EMPTY]
  • Event Residential Sales
  • Building Name 425 West 50th Street
  • Address Unit 11J, 425 West 50th Street
  • Unit 11J
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,227
  • Price $ 1,985,588
  • Price per foot $ 1,618.25
  • Publication Date 01/03/2015
  • Event Date 12/18/2014
  • Party 1 JDS Development Group
  • Party 1 Entity 435 West 50 Property Owner, L.P.
  • Party 2 Tomita , William
notes
[EMPTY]
  • 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 Sales
  • Address 616 First Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 880,000
  • Price $ 172,130,000
  • Price per foot $ 195.60
notes
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
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.
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Manhattan, 10011
Property Markets Group, SMJ 210 WEST 18 LLC
Walker Tower is a residential condominium building that was converted from a 1929...
Brooklyn, 11201
Chetrit Group, 340 FAE OWNER LLC
9 Dekalb Avenue, also known as the Dime Savings Bank of New York,...
Manhattan, 10011
JDS Development Group, 514 WEST 24TH OWNER LLC
...
Manhattan, 10019
Jds Development Group, 435 WEST 50 PROPERTY OWNER, L.P.
...
Manhattan, 10019
JDS Development Group, 111 WEST 57TH PROPERTY OWNER LLC
...
Brooklyn, 11201
JDS Development, FOURTH AVENUE PROPERTY OWNER LLC
...
Brooklyn, 11201
Chetrit Group, 340 FAE OWNER LLC
...
Manhattan, 10016
JDS Development Group, 616 FIRST AVENUE LLC
...
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