Michael Stern’s JDS Development Group plans to build a 1, 421 foot tall spire on its new building at 111 W. 57th St. in Manhattan without the help of any unionized labor which would make it the tallest such structure ever built union free in New York’s history. The new tower is being built together with Kevin Maloney’s Property Markets Group.
The new residential tower has already been called the world’s and will also be new York’s tallest residential building.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Gary LaBarbera, president of the Building and Construction Trades Council, an organization that represents 100, 000 unionized construction workers in New York, Told Crain’s, “If Mike Stern wants to run his mouth, that’s fine, but I don’t know how it’s going to get built. This is a needle in the haystack—an experiment more than anything else.”
Gary Barnett of Extell also commented on the news telling Crain’s “If they built that tower nonunion, it would be unprecedented. I think if they built it successfully, more developers doing projects of that size would have to take a look at going nonunion.”
And Stern himself said, “JDS Development Group’s mission is to see all of its projects through, from acquisition to completion, with utmost precision, and our affiliated JDS Construction division allows us to help control the construction process and guarantee the execution of our vision down to every detail.”
JDS describes 111 West 57th Street as a luxury condominium tower. It is a conversion of the landmark Steinway building, a 247, 000 square foot, 16 story building which will be combined with a neighboring empty lot. The property is located within walking distance of a wealth of New York City’s most notable leisure points of interests, including Central Park, Carnegie Hall, Radio City Music Hall, the Museum of Modern Art, and the world-famous Fifth Avenue and 57th Street shopping districts.
JDS boasts that the project will offer both landmark conversion product and new modern product with shared recreation spaces and lobby, and will feature a large retail component. With frontage on 57th Street and 58th Street, the project will create a dramatic street presence and benefit from its prime Midtown location at the epicenter of Manhattan’s premier international shopping, tourist and commercial districts.
