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JDS Development Group

JDS Development Group is an , , and acquisition firm founded in 2002 by Michael Stern, specializing in architecturally significant mixed-use projects that push the boundaries of and . Headquartered in , , with a significant presence in , the firm operates nationally and focuses on luxury residential, hospitality, and commercial developments in high-profile urban locations. Under Stern's leadership as founder and CEO, JDS has established itself as an innovator in large-scale projects, collaborating with renowned architects such as to create landmark structures that integrate with contemporary engineering feats. The company's portfolio emphasizes supertall towers, waterfront properties, and mixed-use complexes, often redefining city skylines while addressing community and environmental needs. Among its most notable developments are in , the world's slimmest skyscraper at 1,428 feet (435 m); The Brooklyn Tower at 9 DeKalb Avenue, Brooklyn's tallest residential structure; and The American Copper Buildings, a pair of twisting residential towers along the . In , JDS is advancing projects like 888 Brickell Avenue, a 90-story luxury condominium tower branded by , and Mercedes-Benz Places, a 2.5 million-square-foot featuring 800 apartments, a , offices, and extensive amenities including a public park. These initiatives highlight JDS's commitment to pioneering progressive urban forms, earning recognition for award-winning designs that blend luxury with innovative sustainability.

Overview

Company Profile

JDS Development Group is a private firm founded in 2002 and headquartered in Miami, Florida, with a significant presence in . The company operates as an integrated acquisition, development, and construction entity, focusing on architecturally significant mixed-use projects that push the boundaries of . It was established by Michael Stern, who serves as its leader. The firm specializes in residential, , and mixed-use developments, emphasizing innovative solutions for challenging sites, including supertall structures. JDS Development Group manages over 10 million square feet of property in various stages of development as of November 2025, underscoring its scale in high-profile projects. It employs between 51 and 200 people, supporting operations across acquisition, capital raising for ambitious builds, and oversight. Key to its approach are strategic branded partnerships, such as its collaboration with on integrated ventures that blend automotive innovation with residential and commercial spaces. This focus enables JDS to deliver progressive developments that challenge industry norms while addressing complex demands in dense environments.

Leadership and Key Personnel

Michael Stern serves as the founder and of JDS Development Group, a position he has held since establishing the firm in 2002. Prior to launching JDS, Stern gained early experience in the real estate industry as a in , following an initial career as a . Under his leadership, the company has earned recognition for pursuing innovative luxury urban developments that challenge conventional architectural limits through strategic partnerships and ambitious designs. Stern's vision emphasizes creative problem-solving and execution on complex, high-profile projects, drawing from his hands-on expertise in design and construction to drive the firm's growth into a national player in acquisition, development, and building. As the central decision-maker, he oversees strategic direction, ensuring alignment with the company's commitment to pioneering urban landmarks that blend luxury with engineering innovation. The leadership team at JDS includes key executives who support Stern's initiatives, such as Daniel Stern, managing director of operations. Other notable personnel encompass Marci M. Clark, Ph.D., as managing director of strategy and development, and Serena Rakhlin as managing director and , contributing specialized oversight in planning, legal affairs, and operational efficiency. JDS maintains a streamlined with Stern at its core, complemented by dedicated teams focused on acquisition, financing, and to facilitate end-to-end . The firm fosters collaborations with prominent architects, such as , integrating external expertise into its internal development directors and design teams without an exhaustive roster of personnel.

History

Founding and Early Development

JDS Development Group was founded in 2002 by Michael Stern in , operating initially as an acquisition and development firm specializing in luxury residential real estate. After gaining experience as a project manager in , Stern established the company to focus on high-end property acquisitions and transformations in the competitive New York market. In its early years, the firm concentrated on purchasing and redeveloping historic properties to create upscale residential spaces, leveraging the architectural value of older structures. A key example was the Walker Tower project in , where JDS acquired the 1929 Art Deco building—originally a New York Telephone Company facility—for $25 million in 2009 in partnership with Property Markets Group. This conversion transformed the 24-story landmark into luxury condominiums, adding four new stories and emphasizing preservation of its historic facade while introducing modern amenities; although sales began in 2012 and completion occurred later, the acquisition marked an early milestone in JDS's expertise with . The company's initial growth stemmed from small-scale deals that built operational proficiency in high-end conversions, including the development of hundreds of low-rise residential houses across New York boroughs during the early 2000s. By the mid-2000s, JDS had secured its first major financing arrangements and partnerships, enabling a shift toward larger, more ambitious projects while maintaining a focus on luxury residential redevelopment in .

Expansion into New Markets

In the mid-2010s, JDS Development Group shifted its focus toward supertall and mixed-use projects, expanding beyond its initial residential developments to incorporate innovative and larger-scale urban integrations. This period also marked the company's initial entry into the market with Echo Aventura, a 190-unit waterfront in Aventura completed in 2016. A key example was the American Copper Buildings, two copper-clad residential towers connected by a skybridge, which reached completion in 2017 and exemplified the firm's embrace of resilient design features to withstand flooding, marking a milestone in innovation for high-rise construction. Further expansion in followed in 2018 with a $137 million from Madison Realty Capital for Monad Terrace, a 59-unit luxury in Miami Beach designed by , which underscored the company's diversification into waterfront luxury developments amid a competitive condo landscape. Entering the 2020s, JDS achieved significant growth, managing over 7 million square feet of in various stages of development by 2025, driven by key milestones such as the 2024 revisions to the 1 Southside Park project in Miami's district, which reduced residential units by 185 to prioritize expanded open spaces and commercial areas while maintaining its 67-story mixed-use profile. In early 2025, the firm announced the sales launch for the second tower of Mercedes-Benz Places, a branded residential project in , further solidifying its strategic expansions through high-profile partnerships. These efforts included deepened involvement in Miami's and Aventura submarkets, with projects like Echo Aventura—a 190-unit waterfront condominium completed in 2016—and ongoing developments such as , enhancing JDS's presence in luxury and mixed-use segments across .

Projects

New York City Developments

JDS Development Group's portfolio emphasizes luxury residential and mixed-use projects in and , showcasing innovative designs that blend with . The company's developments in these boroughs highlight supertall structures and adaptive reuses, contributing to the city's evolution through partnerships with firms like . One of the firm's landmark projects is , known as Steinway Tower, a 1,428-foot supertall residential completed in 2021. Designed by , the tower features a slender profile with a terracotta facade incorporating 26 custom shapes and six color variations in glass, bronze, and clay, achieving an of nearly 24:1—the world's most slender . It includes the restoration of the adjacent 1929 Steinway Hall landmark, housing 14 residences there alongside 46 full-floor or duplex units in the tower, with high-end amenities such as an 82-foot lap pool, golf simulator, and City's first indoor court. As of 2025, sales continue for the ultra-luxury condominiums, with units starting above $20 million and a listed at $110 million. In Brooklyn, The Brooklyn Tower at 9 DeKalb Avenue stands as the borough's tallest structure at 1,066 feet, a 93-story completed in 2022 that incorporates the landmarked 1908 Dime Savings Bank. The hexagonal tower, also by with interiors by Gachot Studios, features a bronze, , and cladding system inspired by the bank's , offering 550 residential units above retail space. Amenities include a , center, and rooftop terrace, emphasizing views of and the harbor. Ongoing condominium sales as of 2025 underscore its role as Brooklyn's first supertall, blending with modern luxury. The American Copper Buildings in Murray Hill comprise two twisting, copper-clad rental towers at 626 First Avenue, completed in 2017 and representing one of the first large-scale post-Hurricane Sandy constructions in the city. Developed with , the 44- and 48-story structures total 761 units—20% affordable—with a distinctive facade of 5,000 panels that over time, connected by a three-story skybridge a 75-foot lap pool, fitness center, spa, and lounge. Ground-level features include a garden park, restaurant, and ferry access, enhancing resident amenities with East River views. Walker Tower in exemplifies JDS's expertise in historic conversions, transforming the 1929 Ralph Walker-designed telephone switching station at 212 West 18th Street into 47 luxury condominiums completed in 2013. The project enlarged the upper four stories by 50,000 square feet while preserving the building's iconic setbacks and limestone detailing, with CetraRuddy handling the renovation. Residences feature high ceilings and unobstructed views, achieving record sales such as the 5,955-square-foot at $50.9 million in 2014—the highest price per square foot downtown at $4,500.

South Florida Developments

JDS Development Group has established a significant presence in , emphasizing luxury waterfront properties and branded mixed-use developments in Miami's district and surrounding areas. Following its entry into the market in the mid-2010s, the firm has pursued projects that integrate high-end residential living with urban amenities and environmental features. One prominent project is 888 Brickell Avenue, a supertall mixed-use tower in Miami's district planned as a 90-story structure rising to 1,049 feet, featuring 259 Dolce & Gabbana-branded residences alongside space, with completion anticipated in 2027. The development, acquired by JDS in 2024 for $61.23 million, replaces an existing office building and introduces Italian fashion-inspired interiors curated by the luxury brand. 1 Southside Park / Mercedes-Benz Places is a major in , where plans evolved from a July 2024 revision to a February 2025 announcement of a 67-story tower branded by , rising to approximately 780 feet with 821 residential units, a luxury hotel, offices, retail, and 130,000 square feet of amenities including a public park integration. Designed by , the 2.5 million-square-foot project incorporates automotive-inspired features like a Silver Arrow Lounge and 24/7 concierge, with vertical construction underway as of early 2025 and occupancy targeted for 2027. This initiative enhances neighborhood connectivity through greenspace and The Underline pathway. In Miami Beach, Monad Terrace is a boutique condominium development comprising 60 units with direct ocean views, where construction financing was secured in 2018 and the project reached completion in 2023. Designed by Pritzker Prize-winning architect , the 14-story waterfront property emphasizes and environmental resilience amid Biscayne Bay's challenges, offering residences that blend contemporary aesthetics with the area's subtropical vibe. Among ongoing efforts, Echo Brickell and Echo Aventura stand out as luxury towers with prominent bayfront features. Echo Brickell, a 57-story condominium in completed in 2017 but with continued sales activity, offers 180 units emphasizing panoramic views and resort-style amenities like an infinity-edge pool. Similarly, Echo Aventura, an 11-story waterfront development in Aventura finished around 2017, includes 190 residences across five acres with expansive terraces and wellness-focused facilities, highlighting JDS's commitment to serene, high-end coastal living.

Legal and Controversial Issues

Partner and Contractor Disputes

JDS Development Group, under founder and CEO Michael Stern, has faced several high-profile disputes with business partners and contractors, often centering on allegations of financial mismanagement, misrepresentation, and contractual breaches. These conflicts have primarily arisen in connection with major projects and have resulted in multiple lawsuits through 2025. In 2020, initiated a lawsuit against Investments co-founders Nicholas Werner and Nissim Ben-Nun, his former partners in the development at 514 West 24th Street in . Stern accused them of misrepresenting their development expertise and experience during the project's early stages, which began with a $35 million acquisition in 2014. The suit sought to justify 's buyout as a sponsor in 2020, amid claims that the partners lacked the promised capabilities to contribute effectively. A Supreme Court judge ruled in favor of Werner and Ben-Nun in 2023, validating their position and highlighting tensions in the partnership. Contractor disputes have also been prominent, particularly involving Domenick Tonacchio, president and CEO of . In 2018, Tona sued JDS and over their for the 613 Baltic Street condo project in , acquired for $6.8 million in 2014. Tonacchio alleged financial opacity, including Stern's failure to provide basic financial reports, withholding of a full $14 million disbursement owed to Tona, and inflating project costs—such as construction trades from $22.4 million to $31.5 million—while substituting JDS's own team as in violation of their agreement. The suit further claimed Stern did not contribute his promised $5 million stake, leading to Tona's exclusion from the project. Tona sought at least $65.8 million in damages; the case settled confidentially in 2022, following related accusations of on loan documents and a 2021 Chapter 11 filing by JDS Fourth Avenue, which listed between $1 million and $10 million in assets amid ongoing litigation. Stern dismissed the claims as baseless and vowed to countersue. Extending into 2025, Stern and JDS filed a in April against an anonymous "" in , alleging a coordinated smear campaign via a website and accounts. The suit claims the unidentified critic—suspected to be a business rival—spread false statements accusing Stern of fraud and misconduct, damaging his reputation and hindering JDS projects in . Represented by Stearns Weaver Miller and Clare , the plaintiffs seek to unmask the and obtain for the reputational harm. No specific resolution has been reported as of November 2025. A more recent escalation occurred in October 2025, when the condo board at The Fitzroy in West sued Stern and JDS for at least $5 million over construction defects and unfinished amenities. The 14-unit luxury tower's board alleged that common areas and features, including wine cellars, storage units, bathrooms, and saunas, fell "woefully short of industry standards," with issues such as leaking sinks, malfunctioning dryers, and improperly installed drains. The suit further claimed , who served as board from 2020 until February 2025, misappropriated $1 million in funds from lender Madison Realty Capital intended for building improvements. Inspections beginning in 2022 estimated repair costs at $4 million by August 2024, after the board obstructed completion efforts, according to JDS. Stern and JDS described the lawsuit as meritless. In October 2025, law firm filed a lawsuit against JDS Development Group and Michael Stern in , alleging they owe approximately $2.7 million in unpaid legal fees for services rendered. The complaint claims the defendants failed to pay invoices dating back several years, despite repeated demands. As of November 2025, the case remains ongoing, with no resolution reported.

Regulatory and Community Challenges

In 2019, the Fair Housing Justice Center (FHJC) filed a federal lawsuit against JDS Development LLC and affiliated entities, alleging that the design and construction of the American Copper Buildings at 626 First Avenue in violated the Fair Housing Act and other accessibility laws by failing to provide features necessary for residents with disabilities, such as accessible routes, doorways, and common areas. The suit stemmed from a 2018 investigation revealing widespread non-compliance in the 761-unit luxury complex, including inadequate slopes on ramps and insufficient maneuvering space in bathrooms. An initial settlement in March 2021 required $2.9 million in relief and extensive retrofits, but in July 2023, FHJC filed an amended complaint asserting that the defendants had not completed the required modifications within the stipulated timeframe. The 2023 amendment led to a revised settlement agreement in November 2023, mandating completion of remaining retrofits by November 15, 2023, along with an additional $800,000 in penalties and relief for non-compliance. By May 2024, all remediation work was finalized without admission of wrongdoing, resulting in a total payout of nearly $4 million to support improvements and FHJC's efforts. This case highlighted ongoing regulatory of federal accessibility standards in high-end multifamily developments led by JDS. In March 2019, a coalition of community organizations, including the Organized Neighbors and the Chinese Staff & Workers' Association, filed a lawsuit in against to challenge the approval of four supertall towers in the Two Bridges neighborhood, including JDS Development Group's proposed 1,008-foot structure at 247 Cherry Street. The groups argued that the projects, totaling 2,700 units with 690 affordable, violated zoning regulations by exceeding height limits, incorporating excessive mechanical voids that increased bulk without public benefit, and breaching a 32-year-old restriction intended for low-income on the site. They further contended that the City Planning Commission's "minor modification" approval circumvented the Uniform Review Procedure (ULURP), potentially causing environmental harm through added density in the and adjacent . The litigation delayed construction but ultimately failed, with New York State courts upholding the approvals in rulings from 2020 and 2021, allowing the projects—including JDS's tower—to proceed with commitments to and infrastructure upgrades like $40 million in subway improvements. This opposition underscored community concerns over supertall developments altering historic neighborhood scales and straining local resources. JDS's South Florida projects, such as the Places development in Miami's district, have faced broader regulatory scrutiny amid 2025 zoning revisions aimed at addressing housing shortages through increased allowances. In June 2025, JDS secured final approval for upzoning at a site for a 330-foot condo tower with reduced to 125 units, reflecting negotiations over height and scale limits in line with Miami-Dade County's evolving regulations. These adjustments align with Florida's Live Local Act amendments, which streamline approvals but invite challenges from environmental and community stakeholders regarding impacts on coastal areas.

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