MIAMI | Mercedes-Benz Places | 754 + 708 FT | 64 + 64 FLOORS | ON HOLD

[UrbanImpact]

Construction is above ground now:

https://floridayimby.com/2025/03/first-p...ces-goes-vertical-in-brickell-miami.html

[BanBrokenChatBots]

Does this bad Mama jama have a diagram?! There seems to be a lot of massive buildings in the US that don't have diagrams.

[montanamiami]

This project will rear up soon!!!

Good investment possibilities...

[NYguy]

https://radiiinc.com/shop-mercedes-benz-places-1/b0c0j9wl2e86ro1m7wgogouwz6abfo

[Innsertnamehere]

Originally Posted by NYguy

https://radiiinc.com/shop-mercedes-benz-places-1/b0c0j9wl2e86ro1m7wgogouwz6abfo

• Video Link

[montanamiami]

Any update for this project?
I hope it did not stop....

[BrickellBased]

Originally Posted by montanamiami

Any update for this project?
I hope it did not stop....

It has stopped.

[ChiND]

Doesn't the developer have financing?

Also, haven't sales here been strong?\

This tower is amazing. I hope that it gets built.

https://floridayimby.com/2022/06/jds-dev...use-development-at-1-southside-park.html

[UrbanImpact]

Originally Posted by ChiND

Doesn't the developer have financing?

Also, haven't sales here been strong?\

This tower is amazing. I hope that it gets built.

https://floridayimby.com/2022/06/jds-dev...use-development-at-1-southside-park.html

It's under construction and above street level, whether or not construction has paused for whatever reason is a different story. My projects get held up all the time from revisions/permitting/vendor issues etc...

[ChiND]

Originally Posted by UrbanImpact

It's under construction and above street level, whether or not construction has paused for whatever reason is a different story. My projects get held up all the time from revisions/permitting/vendor issues etc...

Sounds good.

[obemearg]

Developer (JDS) is having trouble with another project

Silverstein Properties has taken over the tower’s rental, retail, and unsold condo units from JDS Development in a $672 million deal. Silverstein had provided a $240 million loan for the tower, which JDS defaulted on in 2019, leading to a foreclosure auction scheduled for June 1. The auction was delayed and eventually avoided after Michael Stern of JDS transferred a preferred equity piece in the tower to Silverstein in order to restructure his debt, according to The Real Deal.

https://www.6sqft.com/silverstein-take-control-over-brooklyn-tower/

Wouldn't be surprised if there are some impacts on this project or at least internal thrash with the developer.

[montanamiami]

Originally Posted by obemearg

Developer (JDS) is having trouble with another project



https://www.6sqft.com/silverstein-take-control-over-brooklyn-tower/

Wouldn't be surprised if there are some impacts on this project or at least internal thrash with the developer.

Maybe bankruptcy?

[montanamiami]

Any update?
Any construction progress?
Nothing else?

[Urbannizer]

Hopefully this means it will resume soon..

https://traded.co/deals/florida/note-loan/sale/1133-southwest-2nd-avenue-2/

The asset involved in this transaction is a defaulted note associated with the Mercedes-Benz Places Miami, located at 1133 Southwest 2nd Avenue in Miami. The transaction occurred on March 27, 2026.

Summary of transaction details:
Property Type: Note / Loan
Transaction Amount: Not specified
Address: 1133 Southwest 2nd Avenue
Market: Miami
Buyer: Mark Green & Alexander Shing - Cottonwood Group
The transaction was representative of the Cottonwood Group, with Mark Green and Alexander Shing acting as the buyers in this deal.

[Urbannizer]

Turns out to be bad news..

Michael Stern's Mercedes-Benz Condo Project Hit With Foreclosure Suit

Another one of JDS Development Group’s high-profile projects is the subject of a court dispute after its new lender filed an $80M foreclosure lawsuit on the site of the developer's planned Mercedes-Benz-branded condo tower.

An affiliate of The Cottonwood Group filed to foreclose on the site at 100 NE Eighth St. in Brickell less than a month after it acquired a bridge loan that was allegedly in default, according to its suit filed in Miami-Dade Circuit Court last week.

[montanamiami]

I think this project will be shut down soon... GAME OVER!!!

[Urbannizer]

Another lawsuit filed in April, this time by the city.

City OKs suit to get fire station at Mercedes-Benz condos

Written by Genevieve Bowen on April 29, 2026

The City of Miami is moving toward legal action against the developer of Mercedes-Benz Places at One Southside Park after it failed to deliver a new Fire Station No. 4 required under a 2023 public benefits agreement tied to the high-profile Brickell project.

The Miami City Commission voted unanimously April 23 to authorize the city attorney to take all legal action needed to enforce the agreement with developer 191 SW 12 Owner LLC, an affiliate of JDS Development Group led by Michael Stern. The move comes after the city’s three-year deadline for completion expired March 15 without a finished station, followed by a notice of default issued April 3 and no permanent facility in place.

The property included the site of City of Miami Fire Station No. 4 at 1111 SW Second Ave., which became part of a broader public benefits agreement between the city and the developer tied to the project’s approval.

Construction on the replacement station began around March 15, 2023, triggering a 36-month completion deadline that expired last month. In the interim, the developer also secured additional development rights through a covenant and easement agreement allowing work on portions of the site.

City officials now say the developer failed to complete the station and has also fallen behind on other required public benefit payments. The resolution says the temporary fire station currently housing fire-rescue personnel is deteriorating as hurricane season approaches, raising public safety concerns.

[Urbannizer]

Michael Stern’s JDS to bring on partner Jeff Soffer at Mercedes-Benz Miami project, working on $1B loan

Michael Stern’s JDS Development Group is nearing a deal to bring on Jeff Soffer’s Fontainebleau Development as a partner and secure an over $1 billion loan for the Mercedes-Benz Miami condo project, The Real Deal has learned.

The deal, which has not yet closed, will replenish the project’s capital stack and would resolve litigation with the existing lender, allowing the nearly 800-unit branded condo project to resume. Byron Trott and Michael Dell’s firm, BD&T & MSD, is one of the lenders, according to sources.

The $1.06 billion financing package includes a C-PACE (Commercial Property Assessed Clean Energy) component, which encourages the use of energy efficient and sustainable materials and design.

JDS and Fontainebleau Development declined to comment. A representative for BD&T & MSD did not immediately respond to a request for comment.

The project has been tied up in a foreclosure suit with Cottonwood Management. In May, Cottonwood sued the JDS affiliate alleging the developer failed to repay the loan by the January 2025 maturity date. The JDS affiliate countersued, accusing Cottonwood of underhandedly acquiring the note while JDS was in the market for a construction loan.
Cottonwood took over the loan in late March of this year from Maxim Credit Group, which provided an $86 million refinance in 2022.