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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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08/30/17
...auction. Ambase alleges that developers Michael Stern, of JDS Development Group, and Property Markets Group CEO Kevin Maloney are in cahoots with Spruce and plan...
08/24/17
...the publication.
The new laws could seriously hamper JDS Development Group, Starrett Corporation and L+M Development Partners and CIM Group’s three projects in...
08/15/17
...force the developers to negotiate on building heights.
JDS Development Group, Starrett Corporation and a partnership between L&M Development Partners and CIM Group...
08/02/17
...fall, according to sources.
Stern, the CEO of JDS Development Group, declined to comment on the units that went into contract. And Maloney, who heads...
07/27/17
...The $50.9 million sale of the penthouse at the JDS Development Group and Property Markets Group-developed Walker Tower holds the current record for the area. More...
07/19/17
...contractor role themselves, even on complicated high-end projects. JDS Development Group uses its own construction arm for most of its projects, including 111 West 57th Street...
07/10/17
...contentious relationship with the developers, Michael Stern’s JDS Development Group and Kevin Maloney’s Property Markets Group, and acknowledged it has no access to...
06/28/17
...to attract buyers at 252 East 57th Street, while JDS Development Group and Property Markets Group postponed sales at 111 West 57th Street last year.
“If the...
06/28/17
...percent reduction last week.
The penthouse at the JDS Development Group...
06/11/17
...Architects, has been fairly quiet -- until now.
JDS Development Group posted a new video on its Instagram account yesterday showing that caisson installation is...
05/12/17
...the supertall project planned in Downtown Brooklyn by JDS Development Group and the Chetrit Group. Morali recently told the New York Post that the company...
05/03/17
...concrete composites have increased in strength.
For instance, JDS Development Group used concrete with 14,000-pounds-per-square-inch compression strength at 111 West 57th Street. — Kathryn Brenzel...
04/28/17
...Russia or South America may step up, said JDS Development Group’s Michael Stern.
Further reading on Michael Stern including stories and deals
“There’s...
04/04/17
...Deutsche Bank.
2) 626 First Avenue, $500 million
Lender: AIG
Borrower: JDS Development Group
626 First Avenue, Michael Stern’s planned skyscraper for the “First Avenue Mud Pit,” scored...
04/01/17
...that are mezzanine lenders to Michael Stern’s JDS Development Group for its Brooklyn supertall skyscraper at 9 Dekalb and to Toby Moscovits’ Heritage Equity Partners...
03/30/17
...tower at 9 Dekalb Avenue -- in partnership with JDS Development Group -- and a $194 million loan package from Acore Capital and SL Green Realty for...
03/28/17
...capital he's deployed.
Becker's highest-profile bet is on JDS Development Group and Property Markets Group's Billionaires' Row condo supertower at 111 West 57th Street, where he...
03/21/17
...Properties’ 737 Park Avenue, and Property Markets Group and JDS Development Group...
03/09/17
...now controlled by ex-Kuafu principal Denis Shan, while JDS Development Group and Property Markets Group suspended sales at 111 West 57th Street last year. At the...
03/08/17
...Five Group, is moving forward.
Michael Stern’s JDS Development Group has launched sales for Monad Terrace, a 59-unit luxury condo building designed by Pritzker...
02/16/17
...Street 2012, LLC — paid $31.3 million for the condominium at JDS Development Group and Property Market Group’s 212 West 18th Street, records show. The unit’s been...
02/09/17
...Extell Development's One Manhattan Square at 252 South Street, JDS Development Group...
02/08/17
...for new towers from Tavros Development Partners and JDS Development Group, respectively...
02/06/17
...The No. 2 contract was on apartment 18D at JDS Development Group and Property Market Group’s Walker Tower, located at 212 West 18th Street. The 2,850-square-foot...
02/02/17
...round in his legal battle attempting to thwart JDS Development Group...
JDS Development Group, CEO
104 Fifth Avenue, New York, NY, (212) 974-2844
104 Fifth Avenue, New York, NY, (212) 974-2844
Michael Stern is the founder of the privately held JDS Development Group, a...
- Event Financing
- Address 9 Dekalb Avenue
- Neighborhood Brooklyn Heights
- Borough Brooklyn
- Square feet 7,555,734
- Price $ 135,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 JDS Development Group, Chetrit Group
- Party 2 Bank Of The Ozarks, Melody Finance
notes
The developers secured a $135 million bridge and pre-development loan for the mixed-use retail and multifamily tower.
- Event Financing
- Address 626 First Avenue
- Neighborhood Murray Hill
- Borough Manhattan
- Square feet 922,828
- Price $ 500,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 JDS Development Group, Largo Investments
- Party 2 AIG
notes
The company secured a $500 million senior loan for the multifamily two rental towers with ground-retail.
- Event Financing
- Address 626 First Avenue
- Neighborhood Murray Hill
- Borough Manhattan
- Square feet 922,828
- Price $ 160,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 JDS Development Group, Largo Investments
- Party 2 SL Green Realty, Apollo Global Management
notes
The company secured a $160 mezzanine loan for the multifamily two rental towers with ground-retail.
- Event Retail Leasing
- Address 9 Dekalb Avenue|340 Flatbush Avenue Extension
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Price $ 185,000,000
- Publication Date 02/01/2016
- Event Date 12/23/2015
- Party 1 Chetrit Group, JDS Development Group
- Party 2 Fortress Investment Group, SL Green Realty
notes
A $185 million combined loan was arranged for the two buildings.
- Event Financing
- Address 514 West 24th Street
- Neighborhood West Chelsea
- Borough Manhattan
- Price $ 74,500,000
- Publication Date 09/01/2015
- Event Date 07/23/2015
- Party 1 JDS Development Group
- Party 2 Santander Bank
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 12E
- Neighborhood Clinton
- Borough Manhattan
- Price $ 1,725,934
- Publication Date 04/20/2015
- Event Date 03/26/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Gayle Wright, Robert Realmuto
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 10F
- Neighborhood Clinton
- Borough Manhattan
- Price $ 4,582,125
- Publication Date 04/09/2015
- Event Date 03/25/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 425 West 50th Street LLC
- 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
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 10H
- Neighborhood Clinton
- Borough Manhattan
- Price $ 729,067
- Publication Date 04/03/2015
- Event Date 03/18/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Stella 10h LLC
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 15G
- Neighborhood Clinton
- Borough Manhattan
- Price $ 1,807,394
- Publication Date 03/24/2015
- Event Date 03/18/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Mitchell Cohen
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 12B
- Neighborhood Clinton
- Borough Manhattan
- Price $ 840,056
- Publication Date 04/03/2015
- Event Date 03/16/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Mehmet Baltaci
- 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
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 16E
- Neighborhood Clinton
- Borough Manhattan
- Price $ 2,087,413
- Publication Date 03/25/2015
- Event Date 03/16/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Julia Greer
- 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
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 16B
- Neighborhood Clinton
- Borough Manhattan
- Price $ 2,540,534
- Publication Date 04/06/2015
- Event Date 03/13/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Emin Kutucular
- 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
- 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
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 12D
- Neighborhood Clinton
- Borough Manhattan
- Price $ 1,344,090
- Publication Date 03/25/2015
- Event Date 03/11/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Jacinta Orlando, Gus Samios
- Event Residential Sales
- Building Name Stella Tower
- Address 425 West 50th Street
- Unit 12G
- Neighborhood Clinton
- Borough Manhattan
- Price $ 3,665,700
- Publication Date 03/24/2015
- Event Date 03/11/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 WESTBURY HOLDINGS
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Manhattan, 10016
JDS Development Group, 616 FIRST AVENUE LLC
JDS Development Group, 616 FIRST AVENUE LLC
616 First Avenue is a 823,973 square foot property in the Murray Hill...
Manhattan, 10011
JDS Development Group, SMJ 210 WEST 18 LLC
JDS Development Group, SMJ 210 WEST 18 LLC
Walker Tower is a residential condominium building that was converted from a 1929...
Brooklyn, 11201
Chetrit Group|JDS Development Group, 340 FAE OWNER LLC
Chetrit Group|JDS Development 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
JDS Development Group, 514 WEST 24TH OWNER LLC
...
12/28/16
...per square foot.
5. The Baltic
613 Baltic Street
Developer: JDS Development Group
Projected Sellout: $89.5 million
Units: 44
Type: New construction
JDS Development Group bought the land on...
12/20/16
...tower served as an office for Verizon before JDS Development Group and Property Markets Group converted it to high-end condos.
7. 432 Park Avenue, Unit 64A | $44.8 million...
12/31/15
...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...
...the building into condos with Michael Stern’s JDS Development Group. (Graves put one of those units, 18C, which was asking $10.5 million, into contract last...
...th Street, and Stella Tower, the follow-up by JDS Development Group and Property Markets Group’s Walker Tower in Chelsea.
The company has 2,121 units across...
...sale
Walker Tower (212 West 18th Street)
In January, JDS Development Group and PMG sold a unit at Walker Tower, the one-time Verizon Building that the...
Manhattan, 10016
JDS Development Group, 616 FIRST AVENUE LLC
JDS Development Group, 616 FIRST AVENUE LLC
616 First Avenue is a 823,973 square foot property in the Murray Hill...
Manhattan, 10011
JDS Development Group, SMJ 210 WEST 18 LLC
JDS Development Group, SMJ 210 WEST 18 LLC
Walker Tower is a residential condominium building that was converted from a 1929...
Brooklyn, 11201
Chetrit Group|JDS Development Group, 340 FAE OWNER LLC
Chetrit Group|JDS Development 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
JDS Development Group, 514 WEST 24TH OWNER LLC
...
