Court decision throws JDS’ controversial Two Bridges development into jeopardy

The owner of the site’s ground lease has refused to give consent to the development

New York /
Jul.July 18, 2019 09:30 AM
JDS Development's Michael Stern and a rendering of Two Bridges (Credit: Rendering by Handel Architects via Curbed NY)

JDS Development’s Michael Stern and a rendering of Two Bridges (Credit: Rendering by Handel Architects via Curbed NY)

An appellate court has ruled that the owner of a long-term ground lease at the site of a controversial Two Bridges development should have a say in how the land is used.

The owner, Little Cherry LLC, has 25 years left on a ground lease at the 235 Cherry Street site, according to The City. They have so far refused to give consent to the development, which calls for constructing a 1,000-foot tower above the one-story building on their site, as well as a senior residence next door.

In 2018, the city granted approval to JDS Development, L+M Development, CIM Group and Starrett Corporation to build rental towers at 247 Cherry Street, 260 South Street and 259 Clinton Street.

However the ruling may cause problems for JDS’s development, which has faced a string of earlier challenges. In May, residents filed a petition against the city, the City Planning Commission, the Department of Buildings and the Department of City Planning, alleging the approval of the project was illegal. The City Council also filed a petition objecting to the approval.

A JDS spokesperson told The City that the company would “continue to defend the case vigorously,” and that “the case nor the ruling will impact the development in any meaningful way.”

However Little Cherry’s attorney, Raymond Hannigan, saw the ruling differently, describing it as “a serious decision putting a roadblock in the way of Mr. Stern’s development.”

“He can’t build his megaproject without getting our client’s consent,” Hannigan said. “And we’re refusing to give our consent.” [The City] — Sylvia Varnham O’Regan


Related Articles

arrow_forward_ios
Ron Moelis, CFO and Founding Partner at L+M, and David Thompson, CFO and Principal at CIM, with the Two Bridges project (L+M, CIM, SHoP Architects)
CIM Group, L+M Development file plans for 1.3M sf Two Bridges tower
CIM Group, L+M Development file plans for 1.3M sf Two Bridges tower
JDS founder Michael Stern and US Crane & Rigging LLC Owner Thomas Auringer with the complaint and 111 W. 57th Street (Supreme Court of New York, 111 W 57, Facebook via Auringer)
Michael Stern’s JDS sues crane company at 111 West 57th Street for $50M
Michael Stern’s JDS sues crane company at 111 West 57th Street for $50M
JDS Development's Michael Stern and 613 Baltic Street (JDS, VOA Architecture)
Michael Stern-owned condo project files for Chapter 11 bankruptcy
Michael Stern-owned condo project files for Chapter 11 bankruptcy
Rendering of Two Bridges project with Starrett’s Josh Siegel, JDS Development’s Michael Stern and L&M’s Ron Moelis
Two Bridges project opponents lose final appeal
Two Bridges project opponents lose final appeal
JDS Development’s Michael Stern, L&M’s Ron Moelis and Starrett's Josh Siegel with a rendering of Two Bridges (Twitter, SHoP Architects)
Two Bridges developers beat two more lawsuits blocking projects
Two Bridges developers beat two more lawsuits blocking projects
JDS Development's Michael Stern and 111 West 57th Street (JDS)
JDS sues 111 West 57th contractor, insurer over shoddy work and “blunderbuss requests”
JDS sues 111 West 57th contractor, insurer over shoddy work and “blunderbuss requests”
A rendering of the Two Bridges project and developers Michael Stern and Shaul Kuba (Getty, SHoP Architects)
In reversal, court green-lights Two Bridges towers
In reversal, court green-lights Two Bridges towers
Justices Ellen Gesmer and Anil Singh with a Two Bridges Rendering (NY Courts)
Judges question need for public review of controversial Two Bridges projects
Judges question need for public review of controversial Two Bridges projects
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...