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JDS Development Group

104 Fifth Avenue
New York, NY 10011
(212) 974-2844
Website
[email protected]

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.

Michael Stern
JDS Development Group, CEO
104 Fifth Avenue, New York, NY, (212) 974-2844
Michael Stern is the founder of the privately held JDS Development Group, a...
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  • Event Financing
  • Address 9 Dekalb Avenue
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Price $ 664,000,000
  • Publication Date 04/25/2019
  • Event Date 04/24/2019
  • Party 1 JDS Development Group
  • Party 1 Brokerage JLL
  • Party 1 Broker Aaron Appel, Keith Kurland, Jonathan Schwartz
  • Party 2 Silverstein Capital Partners, Otéra Capital
notes
The owner secured a construction loan of $664 million for the Brooklyn Heights property.
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  • Event Financing
  • Address 613 Baltic Street
  • Neighborhood Park Slope
  • Borough Brooklyn
  • Square feet 59,000
  • Price $ 34,000,000
notes
The owner secured a $34 million refinancing loan for the Park Slope property.
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  • Event Financing
  • Address 9 Dekalb Avenue
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Square feet 7,555,734
  • Price $ 135,000,000
notes
The developers secured a $135 million bridge and pre-development loan for the mixed-use retail and multifamily tower.
For more info, click here
  • Event Financing
  • Address 626 First Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 922,828
  • Price $ 160,000,000
notes
The company secured a $160 mezzanine loan for the multifamily two rental towers with ground-retail.
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  • Event Financing
  • Address 626 First Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 922,828
  • Price $ 500,000,000
notes
The company secured a $500 million senior loan for the multifamily two rental towers with ground-retail.
For more info, click here
  • 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.
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  • Event Financing
  • Address 514 West 24th Street
  • Neighborhood West Chelsea
  • Borough Manhattan
  • Price $ 74,500,000
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  • 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
For more info, click here
  • 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
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,725,934
For more info, click here
  • 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
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10F
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 4,582,125
For more info, click here
  • 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
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 16B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,540,534
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  • 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
For more info, click here
  • 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
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10H
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 729,067
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 840,056
For more info, click here
  • 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
For more info, click here
  • 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
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 16E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,087,413
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12D
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,344,090
For more info, click here
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 14B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 4,073,000
For more info, click here
  • 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
For more info, click here
  • 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
To see all, go to Advanced Search
247 Cherry Street
Manhattan, 10002
JDS DEVELOPMENT GROUP
...
247 Cherry Street
Manhattan, 10002
JDS DEVELOPMENT GROUP
...
616 First Avenue
Manhattan, 10016
JDS Development Group, 616 FIRST AVENUE LLC
616 First Avenue is an 823,973 square foot building in the Murray Hill...
Walker Tower
Manhattan, 10011
JDS Development Group, SMJ 210 WEST 18 LLC
The sponsor(s) filed plans on 05/31/11 for a condo project at 212 West...
9 Dekalb Avenue
Brooklyn, 11201
Chetrit Group|JDS Development Group, 340 FAE OWNER LLC
9 Dekalb Avenue, also known as the Dime Savings Bank of New York,...
514 West 24th Street Condominium
Manhattan, 10011
JDS Development Group, 514 WEST 24TH OWNER LLC
The sponsor(s) filed plans on 03/25/15 for a condo project at 514 West...
Stella Tower Condominium
Manhattan, 10019
JDS Development Group, 435 WEST 50 PROPERTY OWNER, L.P.
The sponsor(s) filed plans on 09/23/13 for a condo project at 425 West...
111 West 57th Street Condominium
Manhattan, 10019
JDS DEVELOPMENT GROUP, 111 WEST 57TH PROPERTY OWNER LLC
The sponsor(s) filed plans on 05/12/15 for a condo project at 111 West...
613 Baltic Street
Brooklyn, 11217
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
The sponsor(s) filed plans on 08/21/15 for a condo project at 613 Baltic...
616 First Avenue
Manhattan, 10016
JDS DEVELOPMENT GROUP, 616 FIRST AVENUE LLC
616 First Avenue is an 823,973 square foot building in the Murray Hill...

The verdict on NYC’s top real estate law firms
10/01/2017
On Billionaires’ Row, JDS Development Group and Property Markets Group have been battling with lenders at their planned supertall condo at 111 West 57th Street, which is facing cost overruns...

The NYC rental firm brawl
03/01/2017
The firm is handling leasing at JDS Development Group’s 760-unit American Copper Buildings at 626 First Avenue as well as sales and leasing at Sheldon Solow’s 550-plus unit 685 First Avenue, among other high-profile projects...

The 10 most valuable Brooklyn condo filings accepted in 2016
12/28/2016
Clockwise from left: Vue Condominium at 1821 Emmons Avenue, Austin Nichols House at 184 Kent Avenue, Hendrik Condominium 509 Pacific Street, The Baltic at Clockwise from left: Vue Condominium at 1821 Emmons Avenue, Austin Nichols House at 184 Kent Avenue, Hendrik Condominium 509 Pacific Street, The Baltic at...

The 10 biggest residential sales of 2016
12/20/2016
According to brokers in the building, the unit wasn’t even listed for sale when the mystery buyer â€' identified as Walker Tower 1-8 LLC â€' came out of the woodwork, paying $6,678 per square foot for the pad. Welch paid just over $6,044 per foot for the five-bedroom condo, which has 360-degree views and three wood-burning fireplaces. The 47-unit tower served as an office for Verizon before JDS Development Group and Property Markets Group converted it to high-end condos...

The Real Deal's hottest stories of 2015
12/31/2015
The apartment at 550 Madison Avenue is set to take the cake as the most expensive listing in New York City (and its biggest, at 21,000 square feet.) And other developers followed suit: The Zeckendorf brothers are asking $130 million for a triplex penthouse at 520 Park Avenue, JDS Development Group and Property Markets Group are reportedly going to launch $100 million-plus penthouses at 111 West 57th Street, and even Ben Shaoul’s Magnum Real Estate Group is mulling a seven-figure ask at his redevelopment of the Verizon building at 140 West Street...

Manhattan’s top agents benefit from fame, rising prices and personal branding
07/01/2015
This spring, Graves listed three units on the 18th and 19th floors of Walker Tower in Chelsea that were together asking $60 million. The units are owned by developers Elliott Joseph and Kevin Maloney of Property Markets Group, who converted the building into condos with Michael Stern’s JDS Development Group...

Flood of new projects shifts fortunes of marketing firms
11/01/2014
From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town...

2014’s residential records â€' so far
09/01/2014
From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over...
247 Cherry Street
Manhattan, 10002
JDS DEVELOPMENT GROUP
...
247 Cherry Street
Manhattan, 10002
JDS DEVELOPMENT GROUP
...
9 Dekalb Avenue
Brooklyn, 11201
Chetrit Group|JDS Development Group, 340 FAE OWNER LLC
9 Dekalb Avenue, also known as the Dime Savings Bank of New York,...
Stella Tower Condominium
Manhattan, 10019
JDS Development Group, 435 WEST 50 PROPERTY OWNER, L.P.
The sponsor(s) filed plans on 09/23/13 for a condo project at 425 West...
613 Baltic Street
Brooklyn, 11217
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
The sponsor(s) filed plans on 08/21/15 for a condo project at 613 Baltic...