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The Durst Organization

The Durst Organization is a family-owned real estate development, management, and investment firm headquartered in New York City, founded in 1915 by Joseph Durst, an Austrian immigrant, who purchased the company's first property, the Century Building at One West 34th Street. Over its more than century-long history, the organization has grown into one of the city's most prominent real estate entities, specializing in commercial and residential properties while emphasizing principles of innovation, integrity, community, and sustainability. Guided by the family philosophy of "Leave each place better than you found it," the company has pioneered environmentally responsible development, including the completion of the first green skyscraper in the United States, Four Times Square in 1999, and the LEED Platinum-certified Bank of America Tower at One Bryant Park in 2008. Currently led by third-generation principals Douglas Durst as Chairman and Jonathan (Jody) Durst as President, the firm manages a diverse portfolio of iconic Manhattan buildings, such as 1 Penn 1 and 200 East 42nd Street, alongside ventures like the organic McEnroe Farm in the Harlem Valley and cultural initiatives including the National Debt Clock and the Old York Library collection of New York City historical documents. With a commitment to long-term stewardship, the Durst Organization continues to expand beyond New York while maintaining its focus on high-quality, sustainable urban environments.

Overview

Founding and core principles

The Durst Organization was established in 1915 by , an Austrian-born immigrant who had arrived in the United States in 1902 and initially worked in the garment industry as a partner in a dress manufacturing business. Transitioning into , Joseph Durst purchased the company's first property that year—the Century Building at One West 34th Street in Manhattan's emerging Garment District—marking the beginning of a family-run enterprise focused on and development in . His wife, Rose Durst, co-founded the organization alongside him, emphasizing a hands-on approach to building and operating commercial spaces in the city's core. From its inception, the Durst Organization has been guided by a foundational philosophy articulated by Joseph and Rose Durst: “Leave each place better than you found it.” This ethos evolved into enduring core principles of innovation, integrity, community, and sustainability, which Joseph Durst established as the bedrock for all operations. These values prioritized ethical dealings in real estate transactions, forward-thinking development strategies, contributions to local neighborhoods, and responsible stewardship of urban environments, setting the organization apart in Manhattan's competitive landscape. The initial focus remained on commercial in , with modest investments in spaces that allowed the Durst family to manage and enhance properties while fostering long-term tenant relationships. This approach reflected the principles' emphasis on integrity and community, as early efforts involved revitalizing underutilized buildings in key districts to support City's economic growth without speculative excess. Over time, these guidelines have influenced the organization's practices, adapting to contemporary challenges while remaining true to their origins.

Current operations and portfolio

The Durst Organization operates as a family-run firm specializing in the development, ownership, leasing, and management of commercial and residential properties, with a primary focus on high-performance, sustainable buildings in . As of 2025, the company owns and manages approximately 13 million square feet of Class-A office and retail space in , alongside a residential portfolio encompassing about 3 million square feet and nearly 4,000 rental units. This totals more than 16 million square feet across 19 properties, including commercial, residential, and retail assets, establishing its significant scale in the city's market. The firm's diversified operations extend to active leasing and services, such as the "Durst Ready" program offering move-in ready spaces in buildings like and 151 . Key holdings include full ownership of iconic properties like One Bryant Park (2.1 million square feet, Platinum-certified) and (1.6 million square feet), as well as management responsibilities for (3 million square feet leased space). Residential highlights feature ownership of developments such as (709 units in a 750,000-square-foot pyramid-shaped tower) and ongoing projects like Halletts Point in , adding thousands more units to the pipeline. In recent years, the organization has pursued expansion beyond , marking a strategic diversification from its traditional base. A notable initiative involves a proposed $2.2 billion mixed-use redevelopment at in , announced in 2020 and encompassing 3.5 million square feet of residential, office, retail, and hotel space across multiple towers; as of 2025, the project remains in planning amid economic challenges but is considered viable with community benefits like contributions. This venture represents the company's first major foray outside NYC, aligning with its emphasis on sustainable, mixed-use developments.

History

Early years and initial growth (1915–1950s)

Joseph Durst, a Jewish immigrant from Gorlice in the (now ), arrived in in 1902 at the age of 19 with just three dollars. He initially worked in the garment trade, starting as a and progressing to selling from a pushcart before partnering in a small factory. By 1915, amid 's booming economy driven by the rapid expansion of the garment industry—which had relocated from the overcrowded to Midtown Manhattan's emerging district—Durst entered by acquiring his first property, the 12-story Century Building at 1 West 34th Street in the heart of the garment district. In the , as the city's population swelled and the apparel sector fueled demand for commercial space, Durst shifted from small-scale garment operations to larger management, acquiring key properties such as the former Temple Emanu-El at and 43rd Street in 1926 and a 15-story residential building at and 85th Street in 1928. These moves capitalized on the construction boom of high-rise loft buildings in the Garment District, where manufacturers increasingly invested in vertical factories to meet growing production needs. By , the organization continued this trajectory with acquisitions like the Park Hill Theatre building in Yonkers in 1936, emphasizing hands-on management to ensure steady occupancy amid the sector's volatility. The , triggered by the 1929 , posed severe challenges, yet the Durst Organization navigated it through conservative strategies focused on long-term ownership and reliable leasing to stable tenants rather than speculative development. During , with Joseph's sons Roy and David contributing to the war effort—Roy earning a Bronze Star in 1945—the firm maintained operations by acquiring properties like 205 East 42nd Street in 1944, which became its headquarters in 1948. This emphasis on enduring asset management allowed the organization to weather economic turbulence and position itself for stability through the .

Mid-20th century expansion (1960s–1990s)

In the 1960s, the second generation of the Durst family, including brothers , and Roy Durst, assumed greater leadership roles within the organization, transitioning from the foundational property management established by their father, , to ambitious commercial development. David Durst focused on and , Seymour on acquisitions, and Roy on operations, enabling the firm to scale up its portfolio with larger office towers. This era marked a shift toward expansion, exemplified by the completion of several high-rise buildings on , such as the 24-story 733 Third Avenue in 1961 and the 32-story 675 Third Avenue in 1966, both designed by Emery Roth & Sons and totaling over 800,000 square feet combined. The 1970s and saw the Durst Organization capitalize on opportunities by acquiring and redeveloping underutilized sites in , particularly around the Avenue of the Americas and . spearheaded land assembly west of between 42nd and 47th Streets, envisioning a multi-tower complex, though the 1973 recession forced a pivot to more selective projects. Key developments included the 45-story 1133 Avenue of the Americas in 1970, which became the company's headquarters and featured innovative simultaneous hot and cold —the first in a office tower—and the 41-story 1155 Avenue of the Americas in 1984. In the late , the firm foreclosed on the Baths site and redeveloped it into the 26-story 114 West 47th Street in 1989, incorporating modern engineering under David's oversight to address aging infrastructure in the area. Seymour's son joined the firm in 1973 but departed in 1994 amid family succession disputes. In 2006, he received a $65 million payout from the family trust as part of a settlement over inheritance rights; meanwhile, third-generation members like (who joined in 1966) and Jonathan (Jody) Durst (who joined in 1984) began preparing for leadership. The 1990s emphasized renovations and forward-thinking office designs, such as the 1994 lobby overhaul at 1133 Avenue of the Americas with upgraded marble finishes and elevators, and the full renovation of 655 in 1995. The decade culminated in the 1999 completion of the 48-story Four , a 1.8 million-square-foot tower designed by Fox & Fowle that introduced prototype advancements in interior space efficiency and tenant amenities, laying groundwork for enhanced workplace functionality without delving into specifics. These efforts solidified the organization's reputation for adaptive, high-quality commercial spaces amid New York's evolving skyline.

Leadership and family involvement

Key historical figures

Joseph Durst, an Austrian immigrant who arrived in the United States in 1902, founded The Durst Organization in 1915 alongside his wife , initially focusing on investments in . He established the company's enduring philosophy of "Leave each place better than you found it," which emphasized ethical development practices and long-term stewardship of properties, guiding the firm's commitment to integrity and community improvement from its inception. As president until his retirement in the early , Durst prioritized family ownership, ensuring the business remained under Durst family control for generations rather than pursuing short-term sales or public offerings. His vision laid the foundation for the organization's growth into a major entity while maintaining conservative financial principles and a focus on quality construction. The second generation of Durst family members joined the company in the mid-20th century, taking on key operational roles that drove expansion and diversification into commercial and residential properties. , Joseph's eldest son, focused on acquisitions and deal-making, leveraging his expertise to secure prime sites and negotiate partnerships that broadened the portfolio beyond initial holdings. Roy Durst handled building management and operations, introducing innovations such as the installation of advanced central air-conditioning systems in the 1960s to enhance tenant comfort and property efficiency. David Durst, the youngest brother, joined in the 1950s and specialized in construction oversight, directing the development of multiple over three decades and contributing to the firm's diversification into larger-scale office towers. Together, these brothers managed daily operations during the post-World War II boom, emphasizing reliable tenancy and adaptive maintenance to sustain family-held assets through economic shifts. Robert Durst, son of Seymour and a third-generation member active in the late , contributed to the organization's development efforts during his tenure as an executive in the and , including involvement in property management and expansion initiatives before being ousted in 1982 amid disputes involving allegations of financial misconduct and erratic behavior. His business roles, though overshadowed by later controversies, supported the 's operational continuity during a period of urban redevelopment in . In 2006, amid continued infighting, he received a $65 million buyout of his interest in the organization. Durst died in 2022 while serving a life sentence for . This era of second- and early third-generation involvement solidified the company's structure, paving the way for a smooth transition to subsequent leadership.

Current executives and succession

The Durst Organization is currently led by third-generation family members Douglas Durst and Jonathan "Jody" Durst, who oversee its strategic direction and operations as chairman and president, respectively. Douglas Durst, who joined the company in 1968 after earning a degree in economics from the University of California, Berkeley, has served as chairman since the 1990s and is recognized for advancing sustainability initiatives, including the development of the Bank of America Tower at One Bryant Park, the nation's first LEED Platinum-certified high-rise office building. His leadership also encompassed a key partnership in the One World Trade Center project, revitalizing Lower Manhattan's skyline while prioritizing environmental responsibility. As a lifelong environmental activist, Douglas founded the Model Organic Farm Foundation, which operates the McEnroe Organic Farm to promote sustainable agriculture. Jonathan "Jody" Durst, who assumed the role of in 2001, focuses on operational management and has driven the expansion of the company's commercial portfolio through efficient project execution and the integration of energy-efficient technologies. Holding a BS in from , he began his career at the organization in 1984 in the construction department after prior roles in at Chrysler Corporation and FMC. Jody plays a central role in family governance, collaborating closely with Douglas to ensure the continuity of the company's values of innovation and integrity amid its growth to manage over 16 million square feet of properties. Succession planning emphasizes grooming the fourth generation to maintain family control, with several members actively integrated into key roles and training programs across departments such as development, , and special projects. Alexander Durst, Douglas's son and a fourth-generation principal, serves as chief development officer, leading acquisitions, design, and construction of major initiatives like and the residential tower while overseeing Durst Ventures for innovative property solutions. Helena Rose Durst, Douglas's daughter and another fourth-generation principal, manages special projects, partnerships, philanthropy, and the family's collections, having developed green programs like composting and led leasing for developments including 10 Halletts Point. Lucas Durst, a fourth-generation director of , handles markets and , contributing to high-profile financings such as the $1.6 billion for One . This structured involvement in operational and strategic areas underscores the organization's commitment to intergenerational leadership transition as of 2025.

Major developments

Commercial buildings

The Durst Organization developed , also known as One Five One, in 1999 as a 52-story office tower spanning 1.6 million square feet in . This landmark project, designed by Fox & Fowle Architects, introduced innovative tenant amenities to enhance workplace productivity, including a 45,600-square-foot amenity floor featuring an artisanal food hall, wine and cocktail bar, event spaces, and boutique meeting venues under the Well& by Durst brand. The building serves as a premier corporate headquarters location, attracting major tenants such as , which occupies 232,000 square feet. The organization owns and manages 1133 Avenue of the Americas, a 50-story Class-A office property in Midtown's Plaza District, completed in 1973 and encompassing approximately 1 million square feet. Focused on corporate leasing, the building hosts prominent tenants including Software as its global headquarters, , world headquarters, and , with recent expansions such as growing to nearly 23,000 square feet in 2024. Amenities emphasize modern business needs, with features like a lobby, destination dispatch elevators, exclusive tenant terraces, and a landscaped plaza. In the and , The Durst Organization pursued commercial expansions through and capital improvements to existing Midtown properties, adapting them for contemporary workspaces amid evolving office demands. A $150 million renovation program at , completed in recent years, upgraded the lobby, entrances, elevator systems with destination dispatch technology, and base building infrastructure to support flexible, efficient environments. Similarly, enhancements at 1133 Avenue of the Americas included lobby and plaza upgrades, along with energy-efficient systems, reinforcing the portfolio's appeal for high-profile corporate occupiers. These initiatives align with the company's mid-20th-century expansion into Midtown office development.

Residential properties

The Durst Organization has developed and managed a diverse portfolio of residential properties in , emphasizing sustainable design, quality construction, and tenant well-being since its early acquisitions in the . Initially focused on commercial real estate, the firm expanded into residential developments in the late , acquiring and renovating historic apartment buildings while venturing into modern high-rises that prioritize environmental efficiency and spacious living spaces. Key examples of the organization's high-rise residential towers include The Helena at 601 West 57th Street, a 38-story Gold-certified building completed in 2005, featuring energy-efficient systems, natural light maximization, and amenities such as a rooftop terrace and fitness center to enhance resident . Similarly, The Epic at 125 West 31st Street, a 58-story tower opened in 2007 as the first project of the Durst Fetner Residential , offers premium finishes, high ceilings, and community-oriented spaces like lounges and gardens, underscoring the firm's commitment to innovative, resident-focused architecture in . These developments highlight a that integrates luxury with functionality, often incorporating green technologies ahead of industry standards. In the , the Durst Organization advanced its community principles through mixed-income housing initiatives, notably the Halletts Point project in , a multi-phase that includes over 2,000 rental units across several towers, with a portion designated as to promote inclusive neighborhoods. Acquired in 2014, phases like 10 Halletts Point (opened 2019) and subsequent buildings provide a blend of market-rate and income-restricted apartments, waterfront amenities, and ground-level retail, fostering long-term community stability. As of 2025, phase two towers at 20 and 30 Halletts Point, adding 647 units, are near completion with move-ins anticipated in spring, and the waterfront esplanade opened in August 2025. As of 2025, the Durst Organization manages nearly 4,000 rental residences across and , spanning historic landmarks and contemporary high-rises, with a strategic emphasis on long-term tenancy through reliable maintenance, responsive management, and resident programs that support sustained occupancy. This portfolio reflects the firm's ongoing dedication to creating enduring, high-quality living environments that balance profitability with .

Iconic projects

The Durst Organization's involvement in the development during the exemplified its capacity for high-stakes public-private partnerships, collaborating with the of and to reconstruct the following the destruction of the original towers on , 2001. This partnership, formalized in 2010 with Durst investing at least $100 million for equity membership, addressed longstanding delays in the project's progress by leveraging Durst's expertise in leasing and operations to accelerate development and ensure economic viability. Rising to a symbolic height of 1,776 feet, the 104-story tower opened in 2014 as the tallest structure in the and a of national resilience, housing over 3 million square feet of and fostering a vibrant technology, media, and information (TMI) tenant community. The project achieved Gold certification under the U.S. Council's Core and Shell rating system in 2016, making it the tallest building worldwide to earn this distinction at the time and incorporating features like energy-efficient systems and measures to minimize environmental impact. The venture faced significant challenges, including protracted design revisions for enhanced security, cost overruns exceeding initial estimates, and leasing hurdles amid economic uncertainty, compounded by Sandy's damage to planned sustainable elements like fuel cells in 2012. Key milestones included in May 2013, the installation of a 408-foot spire, and reaching over 95% occupancy by 2024, underscoring the success of the collaborative model in overcoming rebuilding obstacles. Another standout project in the was the Durst Organization's selection in —following years of planning—to lead the redevelopment of along Philadelphia's waterfront, a $2.2 billion public-private initiative with the Delaware River Waterfront Corporation aimed at creating a modern mixed-use destination integrated with regional transit access. This venture navigated regulatory and community stakeholder challenges to propose over 1,800 residential units, , , and public amenities. However, as of November 2025, the project remains stalled amid economic challenges but is still alive. It would mark Durst's expansion into transformative urban revitalization beyond .

Sustainability and innovation

Green building initiatives

The Durst Organization pioneered practices in the 1990s, introducing energy-efficient systems in that set standards for sustainable commercial real estate in . In 1996, the company developed , also known as One Five One, as a for green design, incorporating innovative features such as fuel cells for on-site power generation and to reduce reliance on traditional energy sources. Completed in 1999, One Five One was recognized as the nation's first green , establishing a roadmap for future standards through its emphasis on and environmental integration. These early efforts reflected the organization's longstanding commitment to , rooted in principles established since its founding. The Durst Organization has achieved numerous LEED certifications across its portfolio, demonstrating leadership in high-performance . One Bryant Park, completed in 2009 and serving as the company's headquarters, became the world's first skyscraper to earn certification under the U.S. Council, highlighting advanced sustainable features in a 51-story tower. By 2025, additional properties have attained or are pursuing status, including —the first multifamily residential building globally to achieve v4 New Construction —and the completed 20 and 30 Halletts Point towers in , which are pursuing certification. Other buildings, such as 733 and 1133 Avenue of the Americas, hold Gold certifications under v4 Existing Buildings: Operations + Maintenance, with One Five One recertified at Gold level in 2024. Investments in , , and waste reduction technologies underscore the organization's focus on operational efficiency and in its developments. For , the company purchases 100% Green-e Certified Renewable Energy Credits to offset electricity use across its portfolio and employs on-site plants, such as the 4.6-megawatt system at One , to generate power efficiently. According to the 2024 Sustainability Report, these efforts continue to offset 100% of the portfolio's electricity use through Green-e certified RECs. efforts include reclamation systems at One , which save approximately 7.7 million gallons annually, and an acre of green roofs across properties that capture about 55,000 gallons of stormwater to mitigate . Waste reduction initiatives feature comprehensive management systems with bins and waste collection programs, positioning Durst as an early adopter of zero-waste strategies in commercial and residential buildings.

Community and broader impact

The Durst Family Foundation, established in 2001, has focused its philanthropic efforts on supporting and initiatives in , channeling resources to organizations that address urban social challenges. For instance, the foundation provided $100,000 grants to Year Up Inc. for job training and programs aimed at young adults from underserved communities, as well as to Children of Promise NYC for educational support services targeting children affected by parental incarceration. Similarly, it awarded $100,000 to New Destiny Housing Corporation to advance solutions for low-income families in the city. These contributions, drawn from the foundation's annual grantmaking of approximately 13 awards totaling around $600,000, underscore a commitment to fostering equitable opportunities in and stable within NYC's urban landscape. Through leadership roles in industry organizations, The Durst Organization has advocated for urban policies that promote sustainable growth and improved public spaces in during the 2010s and 2020s. , as chairman of the Real Estate Board of New York (REBNY) from 2020 to 2024, championed reforms to increase housing supply, including advocacy for a replacement to the expired 421a tax abatement program, such as the proposed 485-x incentive, which incentivizes development amid rising rents. His tenure also emphasized support for in Manhattan's to reduce and enhance public mobility, reflecting broader efforts to modernize regulations and create more accessible urban environments. These positions, articulated through REBNY's , aimed to balance development with community needs, contributing to policy shifts like the City Council's reduced opposition to new projects. As one of City's oldest family-owned firms, spanning over a century since its founding in , The Durst Organization has influenced the industry by exemplifying a sustainable, long-term rooted in and focus. This approach, which prioritizes ownership and management of properties rather than short-term flips, has set a benchmark for ethical standards in commercial and residential development, as highlighted in discussions of dynasties controlling significant portions of NYC's portfolio. By maintaining stewardship across generations, the organization promotes and ethical practices, such as transparent dealings and community-oriented investments, influencing peers to adopt similar models amid evolving market pressures.

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