SB Development Group is a vertically integrated, New York-based developer and general contractor with over two decades of experience. The firm has developed more than 3 million square feet across the East Coast, encompassing over two dozen ground-up projects.
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As principal and co-founder of SB Development, Joseph Stern has been developing real estate in New York for over 10 years. Stern’s extensive knowledge in all aspects of the development process, including assembling land, design, construction and financing, has successfully led to the completion of over two million square feet in real estate development. Prior to SB Development, Stern was a principal at Jay Street Advisors, where he focused on providing development opportunities to the marketplace through the creation, in various forms, of transferable air rights. Under Stern’s leadership, the firm has expanded to now develop various multi-family and multi-purpose projects along the east coast. The residences developed are curated by the team to offer unique features for its residents. Additionally, the firm has begun planting its flag in up-and-coming neighborhoods, oftentimes identifying the next burgeoning community hot spot.
Mr. Benjamini is a principal at SB Development and CEO of 1 Oak Construction. Roni has twenty years of hands-on construction and project management experience which started with best-in-class general contracting firms. Having constructed over two million square feet of commercial, alternate-use, luxury and affordable residential properties throughout the boroughs and greater NY metropolitan area. Before founding SB Development and 1 Oak, Mr. Benjamini worked at Turner Construction on the Goldman Sachs Office Tower in Jersey City and for Bovis Lend Lease on the Ben Gurion International Airport in Israel. Mr. Benjamini earned an MBA from the NYU Stern School of Business in 2005 and holds both a Master & Bachelor Degree in Engineering from The Cooper Union for the Advancement of Science and Art with concentrations in Geotechnical & Structural Engineering.
Cove Miami broker dinner
M&T Bank Provides $40 Million Refinance For 103 Unit Multifamily At 29-17 40th Avenue
Cove Miami unveils exclusive in-house medical concierge services for its residents
Cove Miami now converting reservations to contracts
Joseph Stern Of SB Development Secures $85 Million Construction Loan From I-Cross Capital In Long Island City
Joseph Stern Of SB Development Secures $14 Million Bridge Loan For Development Site In Edgewater Miami
New Rendering Revealed For 29-15 40th Road In Long Island City, Queens
Miami’s Edgewater Experiencing Luxury Boom
Construction Permit For 42-Story Tower Completes First Review Cycle
Butterfield Market to Open 10K-SF Long Island City Location
Excavation Begins At 29-15 40th Road In Long Island City, Queens
Luxury Residential Developments in Miami Leading the Fitness Frontier
631-unit tower plans 125 micro-units, 1,000 bike spaces
SB Development And Hazelton Capital Group Launch Kobi Karp-Designed Cove Miami Waterfront Condo in Edgewater
New York Developers Launch First Miami Project In Edgewater
NOVA Granted Temporary Certificate Of Occupancy At 41-05 29th Street In Long Island City, Queens
NOVA Nears Completion At 41-05 29th Street In Long Island City, Queens
SB Development JV Obtains $62M Loan for NYC Project
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development completes bulk condo purchase in Edgewater
Long Island City luxury condo NOVA complete, to begin sales launch late January
Housing Lottery Launches For Rise LIC At 29-17 40th Avenue In Long Island City, Queens
NOVA: Flatiron-shaped condo presents a smart investment opportunity for buyers with LIC homes from $645K
REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site
Cove Miami broker dinner
M&T Bank Provides $40 Million Refinance For 103 Unit Multifamily At 29-17 40th Avenue
Cove Miami unveils exclusive in-house medical concierge services for its residents
Cove Miami now converting reservations to contracts
Joseph Stern Of SB Development Secures $85 Million Construction Loan rom I-Cross Capital In Long Island City
Joseph Stern Of SB Development Secures $14 Million Bridge Loan For Development Site In Edgewater Miami
New Rendering Revealed For 29-15 40th Road In Long Island City, Queens
Miami's Edgewater Experiencing Luxury Boom
Construction Permit For 42-Story Tower Completes First Review Cycle
Butterfield Market to Open 10K-SF Long Island City Location
Excavation Begins At 29-15 40th Road In Long Island City, Queens
Luxury Residential Developments in Miami Leading the Fitness Frontier
631-unit tower plans 125 micro-units, 1,000 bike spaces
SB Development And Hazelton Capital Group Launch Kobi Karp-Designed Cove Miami Waterfront Condo in Edgewater
New York Developers Launch First Miami Project In Edgewater
NOVA Granted Temporary Certificate Of Occupancy At 41-05 29th Street In Long Island City, Queens
NOVA Nears Completion At 41-05 29th Street In Long Island City, Queens
SB Development JV Obtains $62M Loan for NYC Project
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development completes bulk condo purchase in Edgewater
Long Island City luxury condo NOVA complete, to begin sales launch late January
Housing Lottery Launches For Rise LIC At 29-17 40th Avenue In Long Island City, Queens
REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site
FEB 26, 2024
Butterfield Market, a family-owned grocery store, is set to expand into Queens, marking the first time in its 109-year history. The Upper East Side-based market signed a long-term lease for 10,055 square feet in Long Island City's Rise LIC building. The move is part of Butterfield Market's expansion efforts, having opened a second Upper East Side location in 2020 and a sushi market in 2022.
SEP 29, 2023
Cove Miami, situated in the thriving Edgewater community, stands out with its unique amenities, including an invigorating cold plunge aimed at relieving muscle soreness and enhancing circulation. This distinctive wellness focus extends to a dedicated sauna experience, highlighting the development's commitment to a holistic approach that emphasizes balance and well-being for its residents.
JUN 7, 2023
New York-based development firm SB Development, in partnership with Hazelton Capital Group, has launched sales for Cove Miami, a luxurious waterfront condominium in the rapidly growing Edgewater neighborhood of Miami. This marks SB Development and Hazelton Capital Group's first venture in Miami, offering a boutique living experience with 116 units ranging from 2 to 4 bedrooms and prices starting at $1.3 million. The 40-story development, occupying approximately 450,000 square feet, features architecture by Kobi Karp and Dieguez Fridman, interiors curated by Dieguez Fridman, and expansive floor-to-ceiling windows providing stunning views of Biscayne Bay and the city. Cove Miami distinguishes itself with an emphasis on wellness amenities, including a state-of-the-art fitness center, spa, infinity pool, meditation garden, and rooftop bar. The development aims to contribute to Edgewater's transformation into a hub of luxury living, catering to residents seeking a blend of urban and waterfront lifestyle.
MAY 9, 2023
SB Development's NOVA, a high-rise condominium in Long Island City at 41-05 29th Street, has received a Temporary Certificate of Occupancy from the NYC Department of Buildings. The Fogarty Finger-designed building features 86 apartments, ranging from studios to three-bedroom layouts, with amenities such as a fitness center, resident lounge, children’s playroom, and a two-story roof deck. Over 60% of the condos have been sold, and move-ins are anticipated soon, with Modern Spaces serving as the exclusive sales and marketing team. Prices for the remaining two-bedroom homes start at $1,150,000.
APR 29, 2023
Exterior work on NOVA, a 24-story residential building at 41-05 29th Street in Long Island City, is nearing completion. Developed by SB Development Group and designed by Fogarty Finger, the Flatiron-esque structure features 86 condominium units ranging from studios to three-bedroom layouts. The building, with a warm-hued terracotta façade and floor-to-ceiling windows, also includes ground-floor retail space, a rooftop deck, and various amenities, and is expected to achieve full completion by the end of spring, following the imminent issuance of its Temporary Certificate of Occupancy.
DEC 7, 2022
SB Development and Hazelton Capital Group, led by Joseph Stern, have secured a $62 million condo inventory loan from Northwind Group for their Long Island City luxury development, Nova. The 86-unit project at 41-05 29th Street is over 90% complete, with a temporary certificate of occupancy expected in a few months. The loan will aid in completing the project and selling the remaining units, demonstrating Northwind's active involvement in providing condo inventory loans for developers.
JAN 21, 2022
The affordable housing lottery has been initiated for Rise LIC, an 11-story mixed-use building in Long Island City, Queens, offering 31 units for residents with incomes ranging from 80 to 130 percent of the area median income. Developed by SB Development and designed by Fogarty Finger Architects, the residences feature various amenities such as a rooftop terrace, gym, dog washing station, and more, with monthly rents starting from $1,486 for studios.
DEC 26, 2023
Construction has commenced at 29-15 40th Road in Long Island City, Queens, marking the beginning of a new residential building project. Designed by Fogarty Finger Architects and developed by SB Development, the project includes the adjacent lot at 29-13 40th Road, acquired for $8.7 million. Owned by 29-15 40 RD LLC, with Alba Services Inc. as the demolition contractor, the site was formerly occupied by a low-rise industrial structure, now cleared for development. Located between Queens Plaza and 39th Avenue-Dutch Kills stations, the project adds to SB Development and Fogarty Finger Architects' portfolio, alongside NOVA at 41-05 29th Street and Rise LIC at 29-17 40th Avenue. Further details and renderings are forthcoming.
MAY 31, 2017
located at 209 Havemeyer Street, is set to introduce a 23-story mixed-use tower, named "the Dime," at the site anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building. Developers Tavros Capital, Charney Construction & Development, and 1 Oak Development are leading the project, preserving and integrating the historic bank building into the podium. With 178 rental apartments, 40,000 square feet of ground floor retail, and 100,000 square feet of Class A office space, the project aims to redefine the neighborhood's skyline. Fogarty Finger Architects have filed permits for the sleek tower, offering amenities such as a full-time doorman, landscaped outdoor space, and convenient access to transportation despite the impending L-train shutdown. Anticipated completion is slated for Spring 2019, marking a significant addition to Williamsburg's landscape amidst its ongoing growth wave.
AUG 19, 2022
located at 209 Havemeyer Street, is set to introduce a 23-story mixed-use tower, named "the Dime," at the site anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building. Developers Tavros Capital, Charney Construction & Development, and 1 Oak Development are leading the project, preserving and integrating the historic bank building into the podium. With 178 rental apartments, 40,000 square feet of ground floor retail, and 100,000 square feet of Class A office space, the project aims to redefine the neighborhood's skyline. Fogarty Finger Architects have filed permits for the sleek tower, offering amenities such as a full-time doorman, landscaped outdoor space, and convenient access to transportation despite the impending L-train shutdown. Anticipated completion is slated for Spring 2019, marking a significant addition to Williamsburg's landscape amidst its ongoing growth wave.
JAN 25, 2022
NOVA, Long Island City's newest luxury condo development, has reached completion and will commence unit sales later in January. Designed by the award-winning architecture firm Fogarty Finger and developed by SB Development Group, the 24-story boutique condominium offers 86 studios, one-, two-, and three-bedroom units, along with ground-floor retail space. Amenities such as a fitness center, rooftop deck, and park front entrance provide residents with an urban oasis just minutes from Manhattan. Prices for the units, starting at $600,000 for studios, $760,000 for one-bedrooms, and $1.15 million for two-bedrooms, are yet to be announced, but the project has attracted significant attention amid Long Island City's ongoing transformation into one of NYC's most sought-after neighborhoods.
DEC 8, 2022
SB Development and Hazelton Capital Group have secured a $62 million first mortgage completion loan from Northwind Group to finalize their luxury condo development, NOVA, in Long Island City. The 86-unit project will feature stainless steel appliances, glass showers, and Manhattan skyline views, alongside amenities such as a fitness center and rooftop deck. Additionally, SB Development is actively involved in other mixed-use projects across Queens, including one with affordable housing units.
AUG 29, 2023
Developers are planning a 42-story mixed-use residential tower in Miami's Omni Community Redevelopment Agency (Omni CRA) district. The project, owned and developed by 16th Street Partners LLC, will feature 631 residential units, including 125 micro-units, along with ground-floor retail spaces and amenities such as a fitness center and rooftop deck. The tower, designed by Corwil Architects, aims to enhance the pedestrian realm and provide extensive amenities for residents. Additionally, the project includes 14% affordable housing units and seeks several waivers from city codes to accommodate reduced parking requirements and other design elements. The Urban Development Review Board has recommended approval of the project, praising its design and functionality.
JUN 7, 2023
New York developers SB Development and Hazelton Capital Group have initiated sales for Cove Miami, a 40-story condominium project situated along Biscayne Bay in Miami's Edgewater neighborhood. This marks the beginning of their joint venture's planned $1 billion South Florida development pipeline, reflecting a strategic move to capitalize on the migration of residents from New York to the region.
MAR 27, 2024
The construction and demolition permits for a 42-story tower in Miami, with Kaufman Lynn as the contractor, have progressed through initial stages of review. The tower, designed by Corwil and developed by 16th Street Partners, LLC, will feature 631 residential units, 5,761 square feet of retail space, and eight levels of parking, with potential for a second tower on an adjacent site.
APR 2, 2024
An upcoming 12-story residential building in Long Island City, Queens, designed by Fogarty Finger Architects and developed by SB Development, has revealed a new rendering showcasing an industrial-inspired design. The project, owned by LIC 40th Avenue Owner LLC and with SBGC LLC as the general contractor, features metal paneling framing floor-to-ceiling windows, likely for retail frontage, with excavation already underway at the site.
AUG 5,
The property asset involved in the transaction is located at 29-26 40th Avenue & 29-15 40th Road in Long Island City. This multifamily asset encompasses 196,000 square feet and consists of 190 units, and the loan amount secured for this development is $85,000,000, categorized as a construction loan.
JUL 26, 2024
The property asset involved in this transaction is a development site located at 419 Northeast 19th Street in the Edgewater market of Miami. It encompasses a building square footage (BSF) of 637,732 and a total square footage (SF) of 14,277. The loan amount for this transaction is $14,000,000, categorized as a bridge loan.
JUL 7, 2022
Long Island City's Hunters Point district remains a hotbed for new developments, with NOVA, a 24-story condominium by SB Development Group, presenting a promising investment opportunity. Located near Queensboro Plaza, NOVA offers 86 condos starting at $645K, with top-floor amenities like a rooftop deck and various conveniences for residents, making it an attractive option for buyers. As rental projects like Durst's Sven rise nearby, NOVA and similar condos, like Hero LIC and One LIC, offer strong investment potential in a rapidly growing neighborhood with a booming retail and office scene.
NOV 24, 2024
Cove Miami, a 40-story luxury boutique condominium in Miami’s Edgewater neighborhood, redefines wellness-focused living with the addition of in-house concierge healthcare services provided by LEAA Medical Providers. This innovative offering includes on-demand urgent care, in-home visits, diagnostics, virtual consultations, and exclusive nationwide benefits, ensuring residents and their guests receive accessible, high-quality care. Developed by SB Development and Hazelton Capital Group with designs by Kobi Karp and Dieguez Fridman, Cove features 134 residences with wrap-around terraces, unobstructed bay views, and resort-style amenities like an infinity pool, spa, and rooftop lounge. Prices range from $880,000 to $8.5 million, with sales led by OneWorld Properties.
JAN 30, 2025
Cove Miami, a luxury 40-story waterfront-condominium tower in Edgewater, recently hosted a broker dinner at KLAW Miami, featuring speakers Joseph Stern of SB Development, Kobi Karp of Kobi Karp Architecture, and Peggy Olin of OneWorld Properties, along with a live watercolor artist and virtual reality tours. Developed by New York-based SB Development and Hazelton Capital Group, the project will offer 134 one- to four-bedroom residences priced from $880,000 to $8.5 million, with amenities including a fitness center, spa, yoga areas, business center, and resort-style infinity pool.
NOV 4, 2024
SB Development is thrilled to announce that Cove Miami, a luxurious 40-story waterfront condominium in Miami’s Edgewater neighborhood, has successfully converted its reservations to contracts following a strong launch of its 134 one- to four-bedroom residences, exclusively represented by OneWorld Properties. The boutique bayfront development, marking SB Development’s first Miami project, offers stunning Biscayne Bay views and 42,000 square feet of wellness-focused amenities, including a cutting-edge fitness center, spa, yoga areas, business center, resort-style infinity pool, private cabanas, rooftop lounge, and a unique medical concierge program by LEAA, all designed to enhance residents’ well-being and embody Miami’s iconic lifestyle.
FEB 5, 2025
A 110,000-square-foot, 103-unit multifamily building at 29-17 40th Avenue in Long Island City has undergone a $40,000,000 refinance, arranged by M&T Bank for SB Development, Hazelton Capital, and Davis Companies. The transaction, finalized on February 5, 2025, was driven by key players Jon Davis, Joseph Stern, and Adam Westreich, strengthening the property’s financial foundation in this vibrant market.
MAR 27, 2024
Edgewater, one of Miami's most dynamic neighborhoods, has undergone a luxury transformation fueled by significant real estate investments since 2020. Amid the surge in high-profile developments, SB Development and Hazelton Capital Group have launched Cove Miami, a standout 40-story luxury condominium featuring 116 residences at 456, 480, and 496 Northeast 29th Street. Positioned as a boutique bayfront project, Cove Miami boasts expansive unobstructed views, wellness-focused amenities, and sophisticated architectural design by Kobi Karp and Dieguez Fridman. Its strategic location connects residents to Miami’s vibrant districts, cementing SB Development's role in shaping Edgewater’s evolution into a premier luxury destination.