Michael Stern’s projects flash signs of distress, but risk-taking developer has come back from crises and chaos before

In the thick of more than 15 lawsuits involving him and his companies, including a foreclosure over his most high-profile condo project at the moment, developer Michael Stern says that he’s pretty “unflappable.”  Two years ago, the developer of Brooklyn Tower, the tallest building in the borough, gave up the property to lender Silverstein Capital Partners. The transfer, valued at $672 million, resolved a foreclosure suit on the building nicknamed “Tower of Sauron” by locals after the iron behemoth in Mordor, in “Lord of the Rings.” The saga, covered mostly by trade publications, seemed to roll right off of Stern, […]

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