Durst Organization, anonymous sources dish on Amazon’s rental strategy

The tech giant is a tough negotiator and plays the field, according to sources

TRD New York TRD WEEKEND EDITION /
Dec.December 02, 2017 03:55 PM

(Credit: Bezos photo by U.S. Department of Defense photo by Senior Master Sgt. Adrian Cadiz, front; Pixabay, back)

The Durst Organization is suing Amazon after a lease imploded in 2014 and isn’t shy about talking about the details.

Durst representatives and court documents from the ongoing suit, reveal that the company spent $1.6 million tailoring New York office space to the tech giant’s specifications only for the company to walk away from the deal, which was worth $20 million, according to the New York Post.

Anonymous sources, out of fear of reprisals, told the Post Amazon negotiates deals and then walks — sometimes for half a year before returning to sign papers, if at all. The sources say the company often negotiates multiple leases at the same time.

“They tee up and have a signable lease,” a source told the Post. “They are doing this on warehouse space and office space.”

[NYP] — E.K. Hudson


Related Articles

arrow_forward_ios
Nestio's Caren Maio (Credit: Emily Assiran)

“Like TurboTax”: Nestio launches online leasing

“Like TurboTax”: Nestio launches online leasing
(Credit: iStock)

What you need to know about landlords’ challenge to New York’s rent law

What you need to know about landlords’ challenge to New York’s rent law
Among Brooklyn's priciest spots is DUMBO; pictured is the neighborhood's Main Street Park (Credit: iStock)

Why fewer Brooklyn and Queens tenants are moving

Why fewer Brooklyn and Queens tenants are moving
410 Tenth Avenue and SL Green CEO Marc Holliday (410 Tenth via Google Maps; Holliday via SL Green)

SL Green shopping Amazon-anchored office in Hudson Yards

SL Green shopping Amazon-anchored office in Hudson Yards
Amazon CEO Jeff Bezos with (clockwise from top left: 1055 Bronx River Ave. in Bronx, NY; 3507 W. 51st St. in Chicago; 13200 Southwest 272nd St. in South Miami-Dade, Florida; 28820 Chase Place in Valencia, California (1055 Bronx River Ave via Google Maps; 3507 W. 51st St. via 42 Floors; 13200 Southwest 272nd St. via Google Maps; 28820 Chase Place via IAC Commerce Center)

“Headwind to profitability”: Amazon doubles down on fulfillment centers

“Headwind to profitability”: Amazon doubles down on fulfillment centers
Jeff Bezos and the Beverly Hills home (Getty, Realtor)

Bezos buys Beverly Hills bungalow next to his massive mansion

Bezos buys Beverly Hills bungalow next to his massive mansion
Hamid Moghadam (iStock)

Prologis CEO: Capital is not an issue, it’s finding properties

Prologis CEO: Capital is not an issue, it’s finding properties
(Getty)

Manhattan rental vacancy hits another all-time high

Manhattan rental vacancy hits another all-time high
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...