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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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08/03/18
...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...
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...
07/27/18
...Developments opting for the shared space strategy include JDS Development Group...
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...
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...
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...
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...
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...
...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...
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...
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...
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...
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...
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...
05/16/18
...at various job sites in the city, including JDS Development Group and Property Markets Group's luxury condominium tower, according to a complaint filed on Wednesday...
05/16/18
...s technically not a new building at all. JDS Development Group and Property Markets Group’s skinny condo project at 111 West 57th Street is classified...
04/27/18
...a record held by the Walker Tower, a JDS Development Group and Property Markets Group project where the penthouse sold for $51 million in 2014. On a...
04/11/18
...th Street, the skinny supertall being developed by JDS Development Group and Property Markets Group...
03/19/18
...requests for comment.
Although Largo frequently partners with JDS Development Group on projects, a JDS representative said they were not involved with this deal.
A...
03/19/18
...development site along First Avenue for $172 million to JDS Development Group. The Michael Stern-led firm and Largo have since developed the American Copper Buildings there...
03/16/18
...Zeckendorf Development's 15 Central Park South, Extell Development's One57, JDS Development Group...
02/06/18
...a separate development site along First Avenue to JDS Development Group for $172 million. JDS and Largo have since developed the American Copper Buildings there.
Currently...
01/26/18
...month put forth a proposal that would force JDS Development Group, L+M Development Partners and Starrett Development to go through the city’s lengthy...
01/24/18
...in the project, but sources say Stern’s JDS Development Group and Maloney’s Property Markets Group are still part of the new ownership.
The...
01/18/18
...by some of the city's most established developers. JDS Development Group is planning a 79-story tower at 247 Cherry Street, and a joint venture between L...
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 613 Baltic Street
- Neighborhood Park Slope
- Borough Brooklyn
- Square feet 59,000
- Price $ 34,000,000
- Publication Date 06/04/2018
- Event Date 05/23/2018
- Party 1 JDS Development Group
- Party 1 Brokerage JLL
- Party 1 Broker Aaron Appel
- Party 2 The Arden Group
notes
The owner secured a $34 million refinancing loan for the Park Slope property.
- 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 $ 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 14B
- Neighborhood Clinton
- Borough Manhattan
- Price $ 4,073,000
- Publication Date 03/25/2015
- Event Date 03/10/2015
- Party 1 JDS Development Group, Property Markets Group
- Party 2 Stella Tower #14b, 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 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 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
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Manhattan, 10016
JDS Development Group, 616 FIRST AVENUE LLC
JDS Development Group, 616 FIRST AVENUE LLC
616 First Avenue is an 823,973 square foot building in the Murray Hill...
Manhattan, 10011
JDS Development Group, SMJ 210 WEST 18 LLC
JDS Development Group, SMJ 210 WEST 18 LLC
The sponsor(s) filed plans on 05/31/11 for a condo project at 212 West...
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
The sponsor(s) filed plans on 03/25/15 for a condo project at 514 West...
Manhattan, 10019
JDS Development Group, 435 WEST 50 PROPERTY OWNER, L.P.
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...
Manhattan, 10019
JDS DEVELOPMENT GROUP, 111 WEST 57TH PROPERTY OWNER LLC
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...
Brooklyn, 11217
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
The sponsor(s) filed plans on 08/21/15 for a condo project at 613 Baltic...
Brooklyn, 11201
CHETRIT GROUP, 340 FAE OWNER LLC
CHETRIT GROUP, 340 FAE OWNER LLC
This property is a new development. The developer(s) filed plans in June of...
Manhattan, 10016
JDS DEVELOPMENT GROUP, 616 FIRST AVENUE LLC
JDS DEVELOPMENT GROUP, 616 FIRST AVENUE LLC
616 First Avenue is an 823,973 square foot building in the Murray Hill...
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...
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, 10019
JDS Development Group, 435 WEST 50 PROPERTY OWNER, L.P.
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...
Brooklyn, 11217
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
JDS Development Group, FOURTH AVENUE PROPERTY OWNER LLC
The sponsor(s) filed plans on 08/21/15 for a condo project at 613 Baltic...
Brooklyn, 11201
CHETRIT GROUP, 340 FAE OWNER LLC
CHETRIT GROUP, 340 FAE OWNER LLC
This property is a new development. The developer(s) filed plans in June of...
