NYC Luxury Developer Goes from Flair to Share in Co-Living Job
- JDS’s Simon Koster to head U.S. development at the Collective
- Firm aims to address affordability with communal apartments
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A developer of some of Manhattan’s costliest and tallest condo towers is shifting to the opposite end of the housing spectrum -- building affordable, communal rentals.
Until last month, Simon Koster was a principal at JDS Development Group, the firm constructing a Billionaires’ Row skyscraper where a penthouse is listed for $57 million. Now that the world’s ultra-wealthy are no longer clamoring to buy lavish spreads in the city, Koster sees a bigger opportunity to serve those shut out of the luxury boom.