Durst on board — begrudgingly — at Freedom Tower

TRD New York /
Apr.April 07, 2010 12:01 PM

While Douglas Durst had been a long-time opponent of the Freedom Tower — alleging that the planned tower had “an overly expensive design to be occupied by government agencies at overly expensive rents” — the developer has changed his mind, according to the Observer. Today, the Durst Organization is one of four bidders, along with Boston Properties, Related Companies and Hines Interests, angling for a stake in the Downtown building from the Port Authority of New York & New Jersey. All four have reportedly made $100 million offers for a non-traditional equity stake in the tower. “The building is going to go ahead no matter what anybody says,” Durst said, explaining his decision. “Similarly with the Times Square redevelopment project, we bitterly opposed that, but once the decision was made to go forward, we were a part of it.” That’s not to say that Durst is on board with the boom-time mindset that, according to him, still pervades the commercial real estate industry. When asked what he thinks the industry has learned from the recession, he replied, simply, “nothing.” [NYO] and [NYO]

Related Articles

Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

From left: RPG CEO Bruce Teitelbaum, L&L MAG CEO MaryAnne Gilmartin, 44-02 Vernon Boulevard in Long Island City and Douglas Durst (Credit: Google Maps)

Durst deadlocked with owners of prime LIC site

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images)

It’s official: Facebook is taking 1.5M sf in Hudson Yards

A Victoria's Secret store in New York (Credit: Getty Images)

Victoria’s Secret sues WTC landlord amid store closures and layoffs

WeWork's co-CEO Sebastian Gunningham speaks at the launch of Dock 72

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project

The architect claims the design, construction and marketing of the tower rips off the design of a tower he planned and modeled for his thesis

Lawsuit over WTC design is whittled down

Durst Organization chairman Douglas Durst in a coworking space

Durst Ready: Developer to launch flexible office space arm

The MTA says it has the funding to extend the Second Avenue Subway to East Harlem, and the real estate industry is thrilled. (Credit: Getty, iStock)

Developers see dollar signs in Second Avenue subway extension