JDSPulse | September 16, 2025
While bold logos still adorn the facades of JDS Development’s projects, a very different picture is unfolding behind the scenes: lawyers are stepping away, partners are distancing themselves, and the flagship project — Mercedes-Benz Places in Miami — has stalled in uncertainty.
The JDSPulse platform has sent official inquiries to Mr. Michael Stern and to the law firm Kasowitz Benson Torres LLP, requesting comment on the information that Kasowitz has withdrawn from the AmBase v. Stern case and no longer represents Mr. Stern’s interests.
According to the information available to us, the firm has indeed filed a motion to withdraw from the case. Kasowitz had represented Mr. Stern’s interests for over ten years, and the very fact of withdrawing now — just as the case approaches its final stage — appears to be a serious break. The reasons have not been officially disclosed, but the context speaks for itself.
As of the time of publication, neither Stern nor Kasowitz has provided comment.
Mercedes-Benz Places: From Prestige to Stagnation
The official materials for the Mercedes-Benz Places project in Miami, published on the JDS Development website, speak of “an icon of the future,” “a new kind of urban park,” and “a partnership with a global brand.” However, the reality on the construction site has long ceased to reflect this narrative.
Photographs taken by our correspondents in July and August 2025 show a complete absence of construction activity. No workers, no machinery, no visible signs of progress.
Where Terra Appears — and Where It Doesn’t
On August 25, 2025, The Real Deal reported that Terra Group, led by David Martin, joined the condominium project at 1250 West Avenue in South Beach — together with Michael Stern. At first glance, this might seem like a continuation of their partnership.
But in reality, it looks like a calculated transfer of control.
Terra does not participate in projects where it cannot control operations. If Martin agrees to work with Stern, it is only on his own terms. All indications suggest that Stern’s role in this project will be minimal — possibly reduced to that of a minority partner, if he remains involved at all.
The fact that Terra enters only controlled and predictable initiatives is yet another clear signal:
Where Terra doesn’t appear speaks louder than any press release.
Where Are Stern’s Partners?
Despite its bold ambitions, JDS Development Group has, in recent years, lost nearly all of its key institutional partners. No major bank, developer, or investment fund publicly associates itself with JDS’s current projects.
By contrast, Terra Group, under Martin’s leadership, continues to steadily expand its portfolio and strengthen its presence in Miami — moving with caution, strategy, and control.
What Does It All Mean?
- Kasowitz has withdrawn from the AmBase case after ten years of representation.
- Construction at Mercedes-Benz Places has effectively stopped.
- Michael Stern has not responded to inquiries.
In this context, silence is also an answer.
And perhaps the most honest one.
📩 If you have documents, photographs, or facts related to JDS Development, Kasowitz, or Mercedes-Benz Places — send them to the JDSPulse team at contact@jdspulse.com
P.S. One of our readers summed it up perfectly: “go back to the article https://floridayimby.com/2025/03/first-phase-of-mercedes-benz-places-goes-vertical-in-brickell-miami.html (Archived version) published in March — six months have passed, what has changed?” The answer is obvious. Further comments are redundant.