Douglas and Jody Durst

Douglas and Jody Durst belong to one of New York’s most powerful real estate families. But unlike some dynasties who put their business on autopilot as newer generations step up, Durst is expanding its footprint.

Since the 1950s, Durst has developed 16 million square feet of new developments in New York City, including One Bryant Park, 825 Third Avenue, the 57 WEST campus, and Halletts Point in Astoria, Queens.

The organization made a rare move to build outside of New York City in 2020. Durst proposed plans to build a $2.2 billion mixed-use development with over 1,800 residential units and a hotel on Philadelphia’s waterfront. However, the site has been all potential and little progress.

Durst has also emerged as a seller in recent years. At the start of 2024, Durst sold its 32-story 675 Third Avenue to David Werner for $100 million. The firm also sold an office building at 205 East 42nd Street for $165 million to Werner.

Meanwhile, Durst’s buildings are poised to take advantage of New York City’s office market comeback. In August, Durst landed an impressive $1.3 billion CMBS loan for One Five One, a 1.8 million square foot office tower in Times Square. The cash-out refinance allowed Durst to bring in $146 million in equity.