The View on Real Estate: Michael Stern’s Art Deco launchpad – Crain’s New York

JDS Development Founder Michael Stern recounts the circumstances through which he acquired Walker Tower in 2008 during the tumult of the financial crisis. Though the price seemed like a “vast discount,” he says, it was still a great deal of money at the time. The purchase was also a turning point for Stern and for JDS. Stern discusses another Ralph Walker-designed project, Stella Tower, and JDS Development’s meticulous restoration of the original Art Deco design, which included the replacement of a significant ornament that had been stripped away over the decades.