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The Durst Organization
The Durst Organization is one of the oldest family-run commercial and residential real estate companies in New York City. Established in 1915, the company is owned and operated by the third and fourth generations of the Durst family. It is the owner, manager, and builder of 13 million square feet of Manhattan office towers, with a residential portfolio of 3,400 units across three million square feet. It is a member of the Real Estate Board of New York (REBNY). In 2020, Forbes magazine estimated the Durst family fortune at $8.1 billion.
In 1902, Jewish immigrant Joseph Durst arrived in the United States from Gorlice, Galicia, Poland with three dollars to his name. He found work as a tailor in New York City, and in 1912, he became a full partner in a dress manufacturer, Durst & Rubin.
Using the profits from his business, Durst bought his first building in 1915: The Century Building at One West 34th Street. In 1926, he acquired the original Temple Emanu-El at 5th Avenue and 43rd Street, from Benjamin Winter Sr. the largest synagogue building in the United States at the time; it was demolished in 1927 to make room for commercial development.
In 1927, he formed The Durst Organization. Seymour was the first of his three sons to join the firm, with younger brothers Royal and David joining later. Together, the three brothers expanded the company's holdings in Midtown Manhattan. Seymour's sons, Robert and Douglas, later joined the firm as well.
Early property acquisitions included the company's first residential building, a 15-story building at Fifth Avenue and 85th Street, in 1929; Park Hill Theater and store in Yonkers, New York, in 1936; and 205 East 42nd Street, in 1944, anchored in the 21st century by City University of New York.
In 1974, Joseph Durst died, and his son, Seymour, took control of the company, amid the 1973–1975 recession. In 1992, Seymour retired and his son, Douglas, took over operation of the company. Seymour died in 1995.
Douglas continued to lead The Durst Organization into the 21st century, becoming chairman, with cousin Jody Durst as president, and his children, Helena and Alexander, as directors of the firm.
In the 1950s, the Durst Organization shifted from primarily real estate management to new construction and development. The company acquired land lots and completed the following buildings, many of which it still owns, while uses and tenancies have changed over time. Among its highest-profile property holdings is One World Trade Center.
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The Durst Organization
The Durst Organization is one of the oldest family-run commercial and residential real estate companies in New York City. Established in 1915, the company is owned and operated by the third and fourth generations of the Durst family. It is the owner, manager, and builder of 13 million square feet of Manhattan office towers, with a residential portfolio of 3,400 units across three million square feet. It is a member of the Real Estate Board of New York (REBNY). In 2020, Forbes magazine estimated the Durst family fortune at $8.1 billion.
In 1902, Jewish immigrant Joseph Durst arrived in the United States from Gorlice, Galicia, Poland with three dollars to his name. He found work as a tailor in New York City, and in 1912, he became a full partner in a dress manufacturer, Durst & Rubin.
Using the profits from his business, Durst bought his first building in 1915: The Century Building at One West 34th Street. In 1926, he acquired the original Temple Emanu-El at 5th Avenue and 43rd Street, from Benjamin Winter Sr. the largest synagogue building in the United States at the time; it was demolished in 1927 to make room for commercial development.
In 1927, he formed The Durst Organization. Seymour was the first of his three sons to join the firm, with younger brothers Royal and David joining later. Together, the three brothers expanded the company's holdings in Midtown Manhattan. Seymour's sons, Robert and Douglas, later joined the firm as well.
Early property acquisitions included the company's first residential building, a 15-story building at Fifth Avenue and 85th Street, in 1929; Park Hill Theater and store in Yonkers, New York, in 1936; and 205 East 42nd Street, in 1944, anchored in the 21st century by City University of New York.
In 1974, Joseph Durst died, and his son, Seymour, took control of the company, amid the 1973–1975 recession. In 1992, Seymour retired and his son, Douglas, took over operation of the company. Seymour died in 1995.
Douglas continued to lead The Durst Organization into the 21st century, becoming chairman, with cousin Jody Durst as president, and his children, Helena and Alexander, as directors of the firm.
In the 1950s, the Durst Organization shifted from primarily real estate management to new construction and development. The company acquired land lots and completed the following buildings, many of which it still owns, while uses and tenancies have changed over time. Among its highest-profile property holdings is One World Trade Center.