Michael Kirchmann

Founder

Ceo

GDS Development

Owner

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GDS Development NYC portfolio

$304.2 million -V1 61%, condo 37%; Manhattan 99%*

706th largest portfolio by dollar value

508,955 sqft – condo 47%, office 35%, V1 17%; Manhattan 100%

820th largest by SF

4 properties – Manhattan 100%

2191th largest

Person Activity past 24 months:

Developer (new building or major alteration): 34 for 18,500 square feet

Top Ten Associated Companies:

Nordic Trustee & Agency (1), Mitsubishi Corporation (1), Tara Maguire (1), Calmwater Capital (1), Neil Wainland (1), Deutsche Pfandbriefbank (1)

Top Ten Associated People:

Adam Kastengren Sandberg (1), Alan Rudikoff (1), Craig E. Vosburg (1), Tara Maguire (1), Neil Wainland (1)

Recent activity as signatory:

• Mitsubishi Corporation borrowed $80 million from GDS Development for 146 West 57th Street, Midtown West, Manhattan on March 07, 2024.

• GDS Development borrowed $90 million from Deutsche Pfandbriefbank for 1251 Broadway on March 10, 2023.

• Corem Property Group and GDS Development borrowed $140 million from Nordic Trustee & Agency for 108 East 55 Street on March 07, 2022.

• GDS Development borrowed $6.7 million from Calmwater Capital for 255 10th Avenue, Chelsea, Manhattan on December 13, 2021.

• GDS Development sold 500 West 25th, Chelsea, Manhattan for $12.2 million to Tara Maguire on October 05, 2021.

• Neil Wainland sold None for $17.7 million to Klovern on September 21, 2020.

• Michael Kirchmann filed plans for new building for 72,696 sqft in Chelsea, Manhattan, on April 08, 2019.

• Michael Kirchmann filed plans for new building for 140,834 sqft in Penn Station, Manhattan, on August 07, 2018.

Latest Stories:

• Toll Brothers pays $53M to Benny Barmapov for dev site in Chelsea (February 25, 2026)

• Bankruptcy filed for Chelsea dev site affiliated with late developer Brandon Miller (July 15, 2024)

• GDS, Sabal acquire Midtown West office tower Mitsubishi lost to Aareal, valued at $82.6M (March 27, 2024)

• Lender Network Capital pays $17.5M for office in Chelsea, part of user as buyer trend (June 28, 2023)

• GDSNY signs $90M construction loan for office building in NoMad (March 22, 2023)

• GDSNY, Corem up debt to $140M for dev site in Midtown East (March 17, 2022)

• GDSNY sells PH condo at Emerson in Chelsea for $12.2M (October 19, 2021)

• GDSNY, Klövern, pay $30.7M for mixed-use building to add to Plaza District dev site (May 12, 2021)

• L&L Holding cuts debt to $92.5M from Aareal for Met Tower office condo in Midtown West (March 31, 2021)

• Klövern, GDSNY acquire air rights, easement valued at $17.7M in Chelsea (October 06, 2020)

Properties:

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