Power 100
#9 Douglas Durst and Jonathan “Jody” Durst Chairman; President at Durst Organization Last year's rank: 5 The name “Durst” has been one of the stalwarts of New York City real estate since the family patriarch, Joseph, purchased his first building in 1915. His grandsons, Douglas and Jonathan “Jody” Durst, have been through enough that they can deal with something like a pandemic without losing their stride. While they control a substantial residential catalog, the Dursts said that their Manhattan-based company’s commercial portfolio in particular is going “gangbusters.” That portfolio boasts total or partial control of skyscrapers such as 1 Bryant…
Date 2022-05-16
Author Mark Hallum
The first retail tenant for Durst's new LIC rental tower: a brewery
Finback’s original brewery is also in Queens, further east in Glendale. Its second opened in Gowanus in the summer of 2020. Both are in relatively industrial, simple spaces. The Long Island City location is, by contrast, brand new, with big glass windows “It’s much more finished,” said Basil Lee, co-owner of the brewery chain. “Our focus is on making a nice space, upping the finishes and the design.” Durst is financing some of the build-out. Lee said the location would brew interesting small batches, using mixed cultures and fruit grown on Finback’s own upstate farm. There will be beers made…
Date 2022-04-28
Author Cara Eisenpress
Durst Organization Nabs $100M Loan at 825 Third Avenue
The Durst Organization landed $100 million of financing from JPMorgan Chase Bank on its 40-story Midtown East office building at 825 Third Avenue, according to property records made public on Thursday The three-year loan, which closed on April 4, will help pay for a recent $150 million renovation that upgraded nearly every aspect of the property including its mechanicals and windows, Lucas Durst, a financial associate at the firm and Jonathan Durst’s son, said in a statement. “The proceeds will help back-pay for building improvements that have already been made and for [tenant improvements] and other improvements as we lease…
Date 2022-04-26
Author Celia Young
Brewery To Open In New Long Island City Apartment Tower
LONG ISLAND CITY, QUEENS — The new luxury apartment tower that now glistens next to Queens Plaza has a new amenity to add to its list: a brewery Finback Brewery, based out of Glendale, has signed a lease to open a 3,800-square-foot location in Sven, the recently completed tower at the corner of Queens Plaza and Northern Boulevard, developers announced Monday. Consisting of a taproom and on-site "microbrewery," the ground-floor space will open in late 2022, according to the Durst Organization, which built the glass tower that curves around the landmark Chase Manhattan Bank building. Besides its Queens headquarters, Finback…
Date 2022-04-26
Author Nick Garber
Santander’s East Midtown tower has new owner with modern vision
East Midtown, a favored location for hedge funds and small financial firms, will soon have a prestigious new location for them After serving as Santander’s New York headquarters since 1991, the 134,000 square-foot boutique office tower at 45 E. 53rd St. is finally to be made available for other tenants. A joint venture of ZG Capital and Rialto Capital Management quietly signed a contract last week on an off-market deal to buy the tower for $105 million, Realty Check has learned. The seller was Florida-based MEK Management Services. The deal will close in 30 days. The new owners plan a…
Date 2022-04-26
Author Steve Cuozzo
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