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New York

Durst to invest $300M in distressed properties

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Real estate mogul Douglas Durst said he plans to invest up to $300 million in distressed properties through a fund he’s creating with the development firm Sidney Fetner Associates. Durst told the Observer that the joint fund should be active by spring 2009, when he expects more financially troubled properties in the city and elsewhere to be on the market. Developers Adam Rose and Lloyd Goldman have also expressed interest in buying distressed properties.