The building would mark Dolce & Gabbana\u2019s first residential tower. It\u2019s one of two developments Stern\u2019s JDS is working on in Brickell. Nearby, the developer plans Mercedes-Benz Places, which is tied up in foreclosure litigation<\/a> with the lender, Cottonwood Group.\u00a0<\/p>\n At 888 Brickell, One Sotheby\u2019s signed a contract with the developer in July 2024, and \u201cdeployed an experienced sales team,\u201d established and maintained the sales center, marketed the project and secured contracts for 36 units at the project, according to the complaint. A source told The Real Deal earlier this year that the building has secured about $350 million in presales.\u00a0<\/p>\n The condo-hotel tower is also expected to include two lobby bars and a pool club, an indoor padel court, golf simulator, yoga and Pilates studio, a spa, theater, lounge and lap pool. 888 Brickell is being designed by Studio Sofield with interiors by M2Atelier.<\/p>\n The brokerage, led by Daniel de la Vega and Mayi de la Vega, is seeking unpaid commissions totaling over $246,544 on 14 contracts, salary draws and expense reimbursements of $157,880, marking fees of $72,000 and additional costs, for a total of about $522,000, according to the complaint.\u00a0<\/p>\n JDS did not immediately respond to a request for comment.\u00a0<\/p>\n One Sotheby\u2019s provided the JDS affiliate with formal notice on April 7, demanding payment by April 22. The lawsuit alleges breach of contract, unjust enrichment and quantum meruit. The latter count would allow One Sotheby\u2019s to recover the reasonable value of services rendered or goods provided, even if there was no contract in place.\u00a0<\/p>\n JDS paid $61.2 million for the half-acre development site in the spring of 2024, financing the deal with a $35.7 million loan from G4 Capital Partners. The developer was reportedly in the process of securing construction financing, a source told TRD in April.\u00a0<\/p>\n Other companies working with the developer filed liens against the property, which is not uncommon during construction. The engineering firm Kimley-Horn filed a construction lien lawsuit against the developer in March over about $72,000 in allegedly unpaid work.\u00a0<\/p>\n At Mercedes-Benz Places, the lender Cottonwood sued for foreclosure in April, alleging the developer defaulted when it failed to repay the loan by the January 2025 maturity date. Cottonwood is seeking more than $100 million in damages, including interest. Weeks later, the JDS affiliate countersued<\/a>, accusing the lender of using confidential information meant for a refinancing to underhandedly swoop in and purchase the note, to then foreclose.\u00a0<\/p>\n Court filings say that the foreclosure suit caused \u201cimmediate, significant and potentially irreparable damage\u201d to the developer and the project. After the foreclosure was filed, the city of Miami notified the developer that it had defaulted under the public benefits agreement, which requires JDS to build a new fire station for the city. JDS\u2019 approval in 2020 hinged on the developer agreeing to build an $8 million firehouse<\/a> and put $5 million into public benefits, including a redesign of the adjacent Southside Park.<\/p>\n Ryan Serhant\u2019s firm is leading the sales of Mercedes-Benz Places. The brokerage does not appear to have sued the developer, according to court filings.\u00a0<\/p>\n \tRead more \t\t\t\t\t\t\t\t\t\t\t\t\t \n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n \u201cUnderhanded\u201d: Michael Stern\u2019s JDS sues lender back over foreclosure of Mercedes-Benz site\u00a0<\/p>\n
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