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Michael Stern

CEO
JDS Development Group
104 Fifth Avenue
New York, NY 10011
(212) 974-2844
Website

Michael Stern is the founder of the privately held JDS Development Group, a real estate development firm based in New York City. The firm, founded in 2002, specializes in luxury residential, hospitality and mixed-use projects and has several million square feet of property under development. (See our JDS Development Group Topics page for a full list of projects.) 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. Stern has worked with Kevin Maloney's Property Markets Group on a number of development projects.


01/01/2018
MDG Design + Construction, meanwhile, is also making a big play on the peninsula. The firm recently landed a 99-year lease for the NYC Housing Authority’s Ocean Bay apartments, which it’s pouring $560 million into renovating. And Michael Stern’s JDS Development is completing a 60-unit rental with prices ranging from $2,650 to $4,300 â€' significantly higher than the Rockaways’ median asking rent, which stood at $1,895 as of November, according to StreetEasy...

09/01/2015
Meanwhile, Michael Stern’s JDS and developer Joseph Chetrit are reportedly mulling a 1,000- to 1,200-foot residential tower in Downtown Brooklyn...

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...

05/01/2015
Barry Sternlicht’s Starwood Capital, which invested $134.4 million in New York real estate last year and just raised $5.6 billion for a new fund, is among those branching out. The fund has partnered with Michael Stern’s JDS Development and Kevin Maloney’s Property Markets Group on a number of luxury developments...

08/01/2014
In addition, Michael Stern’s high-profile JDS Development clocked in at No...