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JDS Development Group

104 Fifth Avenue
New York, NY 10011
(212) 974-2844
Website
info@jdsdevelopment.com

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.


Records rollercoaster: The benchmarks that have been broken in NYC’s resi market
11/02/18
...Building 1,066 ft. At 1,066 feet tall, Michael Stern’s JDS Development Group is building what is slated to be Brooklyn’s tallest tower: 9 DeKalb Avenue. The...

The condo discount dance
...View at MiMA, while Bold New York landed JDS Development Group’s American Copper Buildings after Citi Habitats resigned. Meanwhile, Douglas Elliman is now marketing...

The records roller coaster
...Building 1,066 ft. At 1,066 feet tall, Michael Stern’s JDS Development Group is building what is slated to be Brooklyn’s tallest tower: 9 DeKalb Avenue. The...

Joe Chetrit revealed as buyer of SL Green’s 1231 Third Avenue
10/31/18
...th Street in Woodside,  and Michael Stern’s JDS Development Group recently bought them out of the 73-story mixed-use development at 9 Dekalb Avenue in Downtown...

Why hardwiring buildings for specific tech can backfire
10/11/18
...slower than technology,” said developer Michael Stern, whose JDS Development Group spent $25,000 to upgrade outdated tech at its condo conversion Walker Tower a few years...

Alexa, upgrade my technology
...slower than technology,” said developer Michael Stern, whose JDS Development Group spent $25,000 to upgrade outdated tech at its condo conversion Walker Tower a few years...

The private equity paradox: Funds flush with cash can’t find deals with returns they need
09/26/18
...May provided a $34 million condo inventory loan to JDS Development Group’s 613 Baltic Street in Brooklyn. Other top-performing funds include TH Real Estate — the property...

Sotheby’s head of new development is out
09/24/18
...West 17th Street, as well as units at JDS Development Group and Property Markets Group's Stella Tower...

White onyx, velvet walls and champagne: 111 West 57th finally launches sales
09/13/18
...caps a tumultuous few years for Stern’s JDS Development Group and Maloney’s Property Markets Group, who acquired the site in 2013 for $132 million (plus...

The private equity paradox
...May provided a $34 million condo inventory loan to JDS Development Group’s 613 Baltic Street in Brooklyn. Other top-performing funds include TH Real Estate — the property...

Reverse psychology? Prices raised at 111 West 57th ahead of sales launch
08/15/18
...a kind of reverse psychology for buyers — or JDS Development Group and Property Markets Group believe the building was underpriced — the increase comes as the...

Chetrit Group out at 9 Dekalb Avenue, Brooklyn’s tallest development
08/03/18
...Flatbush Avenue, Joseph Chetrit, and Michael Stern (Credit: JDS Development Group and Studio Scrivo) Michael Stern’s JDS Development Group is taking full ownership of...

New York’s vertical problem: Why the city isn’t yet home to a “megatall”
07/31/18
...higher-density zones,” said Michael Stern, the CEO of JDS Development Group. “It’s not impossible, but I don’t think you are going to see...

Why NYC penthouses are becoming less and less exclusive
07/27/18
...Developments opting for the shared space strategy include JDS Development Group...

Here’s why more brokerages are taking developers to court
07/26/18
...brokerage was terminated without warning on May 16. While JDS Development Group and Property Markets Group contend that the brokerage missed sales benchmarks, Corcoran said in...

Here are the details on Largo’s development in Williamsburg
07/24/18
...Largo is a frequent collaborator of Michael Stern's JDS Development Group. The two companies jointly own a portfolio that includes the American Copper Buildings, a...

Town sues entities tied to New Empire over unpaid fees at Turtle Bay condo
07/20/18
...Sunshine Marketing Group filed a $30 million suit against JDS Development Group and Property Markets Group, alleging they sabotaged the sales effort at 111 West 57th Street...

Why New York has a harder time building “megatalls” than other global cities
07/11/18
...higher-density zones,” said Michael Stern, the CEO of JDS Development Group. “It’s not impossible, but I don’t think you are going to see...

Inside Miami’s newest crop of condo towers
07/04/18
...biggest Miami condo projects of this cycle — Related, JDS Development Group, Swire Properties and others — are keeping mum about future condo projects, focusing instead on...

New York’s vertical problem
...higher-density zones,” said Michael Stern, the CEO of JDS Development Group. “It’s not impossible, but I don’t think you are going to see...

Walker Tower PH sells for $31M
06/27/18
...City Department of Finance records. The penthouse — at JDS Development Group and Property Market Group’s 212 West 18th Street — hit the market last year for...

City Planning’s review of Two Bridges resi towers will take place in October
06/26/18
...also moved the review process to the fall. JDS Development Group is planning a 79-story tower at 247 Cherry Street, and a joint venture between L...

These are South Florida’s top condo developers of 2017
06/26/18
...biggest Miami condo projects of this cycle — Related, JDS Development Group, Swire Properties and others — are keeping mum about future condo projects, focusing instead on...

Aerial warfare: Corcoran Sunshine files $30M suit at Billionaires’ Row supertall
06/21/18
...units. The suit, filed late Wednesday, contends that JDS Development Group and Property Markets Group breached its contract with Corcoran when it allegedly terminated the...

“Limestone Jesus” 15 CPW is New York’s top-performing condo tower: report
05/23/18
...per sf: $5,542 Number of sales: 21 3) Walker Tower Developer: JDS Development Group, Property Markets Group Average price per sf: $5,050 Number of sales: 2 4) Residences at the Mandarin...
Michael Stern
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...
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • Event Financing
  • Address 514 West 24th Street
  • Neighborhood West Chelsea
  • Borough Manhattan
  • Price $ 74,500,000
For more info, click here
  • 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
For more info, click here
  • 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
For more info, click here
  • 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
To see all, go to Advanced Search
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
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...
340 Flatbush Avenue Extension
Brooklyn, 11201
CHETRIT GROUP, 340 FAE OWNER LLC
This property is a new development. The developer(s) filed plans in June of...
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 10 most valuable Brooklyn condo filings accepted in 2016
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...

The 10 biggest residential sales of 2016
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...

The Real Deal’s hottest stories of 2015
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...

Manhattan’s top agents benefit from fame, rising prices and personal branding
...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...

Flood of new projects shifts fortunes of marketing firms
...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...

2014’s residential records — so far
...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...
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
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...
340 Flatbush Avenue Extension
Brooklyn, 11201
CHETRIT GROUP, 340 FAE OWNER LLC
This property is a new development. The developer(s) filed plans in June of...