Central River – MAS Summit 2014

JDS Development Founder Michael Stern discusses 111 West 57th Street, noting that although there are several buildings of great height being built along this corridor, they generally contain relatively few residences, limiting the supply of apartments at the top end of the market. Stern also cautions that land prices in Manhattan have escalated to the point where building is actually less expensive than buying land itself, which is something to carefully watch.