SHoP’s (Expanding) House

Since their show-stopping design for the Barclays Center turned an international design spotlight on SHoP Architects in 2013, the firm has been creating a range of innovative new residential projects in New York, including several major projects for JDS Development Group. JDS founder Michael Stern reached out to the SHoP team in 2013, noting with admiration that he had wanted to “meet the lunatics” who had designed Barclays. He was especially impressed that for a project under a great deal of scrutiny, and with complex politics involved, SHoP had made bold aesthetic choices rather than playing it safe. Four years later, JDS and SHoP have undertaken several high-profile projects together, including the ultratall 111 West 57th Street, which combines the landmarked Steinway Building with a sleek new tower clad in light-colored ceramics and brass. On the East River Waterfront, the firms have collaborated on the eye-catching American Copper Buildings at 626 First Avenue. And in another collaboration that deftly weaves a historic building into a new project, the luxury condos at 9 DeKalb Avenue, which sit adjacent to the landmarked Dime Savings Bank, will soon be in Brooklyn's tallest residential tower.

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In resi development, “Other People’s Money” no longer cuts it

The use of “other people’s money”—equity that comes from someone other than a project’s developer—is on the decline, thanks in part to increased caution in the wake of the 2008 financial crisis, but capital is still flowing into the United States from all corners of the world. According to JDS Development Group’s Michael Stern, the activity level of investors from different countries, particularly Russia, China, and South America, ebbs and flows. “There’s always a country of the moment,” he said. “There always seems to be an alternative.” Stern is also optimistic that land sales are going to increase, noting that the recent lack of land sales has made an oversupply of new condos less likely.

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Monad Terrace at 1300 Monad Terrace

Monad Terrace Project Scores Approval for Design Changes

The striking design of Monad Terrace, a new luxury Miami Beach residence designed by the Pritzker Prize-winning architect Jean Nouvel, is evident from the front entrance—framed by a porte-cochère canopy—that opens onto a double-height lobby overlooking Biscayne Bay. Sales at the development, which has 59 apartments ranging from two to five bedrooms, began in February. Calibrated to appeal to buyers with a penchant for great design, the building is perched on the edge of the Bay, where it can take full advantage of the light reflecting off the water. Residences offer an array of amenities, including custom kitchens, landscaped terraces, and luxurious marble bathrooms. Monad Terrace is the first Miami Beach project by JDS Development, whose nearby properties include Echo Brickell and Echo Aventura in Wynwood/Edgewater.

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JDS Development Group/JDS, Chetrit land $35M loan for Brooklyn’s tallest tower

JDS Development Group has secured financing to complete the 73-story, mixed-used building at 9 DeKalb Avenue in Downtown Brooklyn. The residential real estate developer has teamed up with Chetrit Group on the 400-residence project, which will become Brooklyn’s tallest tower when it tops out at 1,066 feet. Designed by SHoP Architects, the glass- and bronze-clad skyscraper will also incorporate the opulent, Greek-inspired, landmarked Dime Savings Bank on its ground floor.

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Monad Terrace at 1300 Monad Terrace

Michael Stern’s JDS kicks off sales for Monad Terrace in South Beach

Residential real estate developer Michael Stern is poised to launch sales at Monad Terrace, his first building in Miami Beach. The CEO of New York-based real estate firm JDS Development Group has partnered with Pritzker Prize-winning architect Jean Nouvel, investor New Valley, and Ackerman Development, to create the 59-residence luxury building. The waterfront tower, Nouvel’s first in Miami, is targeting buyers who appreciate the superlative design that demonstrates why Nouvel’s artistry is celebrated around the world. “I think the market will be very receptive to a thoughtful, great project,” says Stern. When the building is complete in 2019, residents will enjoy custom kitchens, marble baths, climbing gardens, terraces with views of Biscayne Bay, and amenities that include a fitness center, swimming pool, private lounge, and dock access.

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NYC real estate is becoming a “meritocracy”: Michael Stern

The world of NYC real estate development has transformed from an aristocracy dominated by developers from established real estate dynasties into a leveled “meritocracy”, according to Michael Stern, the head of the JDS Development Group. Speaking at a recent panel hosted by the Downtown Brooklyn Partnership, Stern credited the change to the Internet–which freed information once kept behind closed doors–as well as nimbler urban development in the information age. Instead of waiting until an area has been filled with offices before introducing residential developments, Stern is successfully reversing the trend with developments like the super-tall residential tower under construction in Downtown Brooklyn, which is adding new vibrancy to the booming neighborhood.

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NYC developers looking for the old in the new

Top NYC developers are returning to natural materials to create a sense of authenticity in their buildings and stand out among the competition. JDS Development Group often eschews the modern standard of exposed steel and sheets of glass in the designs of their projects in Manhattan and Brooklyn. The Fitzroy, the company’s 14-residence project in Chelsea, will cut an impressive figure in green-glazed terracotta and copper-framed windows. JDS ​managing partner Michael Stern has observed that, while it may be easier to use mass-produced materials instead of those that are crafted and installed by hand, the resulting buildings lack the character that has always made New York architecture so distinctive.

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Stern and Rudin talk Brooklyn office and Resi Transformation

JDS Development Group is bringing deluxe living space to Brooklyn. Michael Stern, head of JDS, discussed recently how the booming borough was ripe for “transformative development,” and how his newest project, the supertall tower at 9 DeKalb Avenue, will contribute to downtown Brooklyn’s shifting skyline. When it comes to housing, JDS Development’s luxury condos at 613 Baltic Street are perfectly poised to appeal to the growing set of buyers who are moving out of Manhattan and into Brooklyn as “a cultural and lifestyle choice.”

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JDS Development’s Michael Stern dishes on inspiration behind 9 DeKalb: VIDEO

Top NYC real estate developer Michael Stern of JDS Development Group recently shared his thoughts on two of his firm’s high-profile projects: 9 Dekalb in Brooklyn and 111 West 57th Street in midtown Manhattan. According to Stern, the JDS approach to development is about “creating the best building we can responsive to a particular site.” While 9 Dekalb incorporates the landmarked Dime Savings Bank, 111 West 57th Street is “irreplaceable real estate,” says Stern. Noting that the real estate business in New York is “a marathon, not a sprint,” Stern adds that buyers will always seek out high-quality properties.

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