“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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...
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...
Developer (JDS) is having trouble with another project
Quote:
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.
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.
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.
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