Durst leader talks shop

TRD New York /
Sep.September 14, 2009 10:55 AM

Jonathan “Jody” Durst, co-president of the Durst Organization, sat down with the New York Times to talk about sustainable development, new projects and the latest shakeup at Durst: Jonathan’s cousin, Douglas, co-president and current chairman, announced that he would be leaving the co-president post and stepping down from day-to-day operations at the organization, while remaining chairman. Beyond leadership changes, Durst said his company is holding up well in the market. His latest project, the 55-story Bank of America building, is back on track after nabbing an extended $1.3 billion in loans. Today, the tower is nearly 99 percent complete and 98 percent occupied, Durst said, but securing the proper financing wasno easy task: “It took the expertise of many consultants and lawyers just to keep everybody together and focused. The economy and the financial atmosphere were constantly changing over those 12 months, and so all the participants were wondering whether they should stay at it.”

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