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    Michael Stern

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

    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.

    Among its 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. The 1,428 foot Billionaires' Row supertall also known as Steinway Tower topped out in 2019.

    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 built the Monad Terrace and Echo Brickell in Miami, and is also developing the mixed-use 1 Southside Park project in Miami's South Beach, including a hotel, office space, commercial space, residential units, parking spaces and a refurbished Southside Park and fire station.

    Stern has worked with Kevin Maloney's Property Markets Group on a number of development projects.

    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...

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

    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...

    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...

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