JDS Development Group
| Company type | Private |
|---|---|
| Industry | Real estate development |
| Founder | Michael Stern |
| Headquarters | , United States |
Number of employees | 500 |
| Website | JDS Homepage |
JDS Development is an American real-estate development group headquartered in Manhattan, New York, with an additional presence in Miami and South Florida. The firm was founded by Michael Stern, a native of Long Island.[1]
History
[edit]The JDS Development Group was founded in 2002 by Michael Stern. The company was incorporated as a privately held New York City-based acquisition firm and real estate development. It specializes in luxury housing, leisure and mixed-use developments, it has over 7 million square feet of real estate under construction.[2]
In 2018, Madison Realty Capital gave a construction loan of $137 million to the JDS Development Group for Monad Terrace Condominium located in Miami, Florida.[3]
Lawsuits
[edit]JDS Development faced a legal dispute in 2024, when Hawthorne Financial Holdings accused the company of owing roughly $1.3 million in unpaid expenses associated with its use of a private jet.[4]
In December 2025, the law firm Kasowitz Benson Torres filed a lawsuit against JDS Development and its founder, Michael Stern, in New York County Supreme Court. The complaint alleges that the company failed to pay approximately $2.7 million in outstanding legal fees. According to the filing, JDS retained Kasowitz in 2014, and the firm subsequently represented both the company and Stern in multiple real estate-related legal matters. The lawsuit states that neither JDS nor Stern had previously raised concerns about the firm’s work or its billing, and that Stern had repeatedly assured Kasowitz that the invoices would be paid. Kasowitz is seeking the unpaid balance along with interest and legal costs.[5]
Developments
[edit]![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (February 2020) |
JDS has created buildings in South Florida, as well as Manhattan and Brooklyn in New York City. Notable developments include The Steinway Tower, The Brooklyn Tower, and the American Copper Buildings.[6][7][8]
References
[edit]- ^ Marino, Vivian (30 July 2013). "Michael Stern". The New York Times. Retrieved 26 February 2016.
- ^ "JDS Development Group". TRData. Retrieved 10 April 2020.
- ^ "JDS Development Group Secures $137 Million Construction Financing From Madison Realty Capital for Distinctive Miami Beach Condominium Monad Terrace". GlobeNewswire. 25 April 2018. Retrieved 10 April 2020.
- ^ "Hawthorne Fin. Holdings LLC v JDS Dev. LLC". aw.justia.com. Justia. Retrieved 4 December 2025.
- ^ Small, Eddie. "Billionaires Row developer sued over alleged legal debts". crainsnewyork.com. Retrieved 4 December 2025.
- ^ "111 West 57th Street - JDS Development Group". JDS Development Group. Archived from the original on 28 June 2016. Retrieved 28 May 2015.
- ^ "340 Flatbush Ave Ext. Revealed, Brooklyn's First Supertall Skyscraper". 9 November 2015. Retrieved 12 November 2015.
- ^ Hylton, Ondel (13 July 2015). "New Video Reveals How SHoP's 626 First Avenue Will Dance into Midtown's East River Skyline". 6sqft. Retrieved 25 February 2016.
External links
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