The Durst Organization

The Durst Organization

Company type	Private family-owned company
Industry	Real estate
Founded	1915
Founder	Joseph Durst
Headquarters	New York City , United States
Area served	Manhattan, New York City; Queens, New York City
Key people	Douglas Durst (Chairman), Jody Durst (President), Helena Durst, Alexander Durst
Products	Commercial and residential real estate ownership, management, and development

The Durst Organization stands as one of the longest-established family-operated real estate enterprises in New York City, specializing in both commercial and residential properties. Established in 1915 by Joseph Durst, the company is currently overseen by members of the Durst family’s third and fourth generations. Its portfolio encompasses ownership, management, and development responsibilities for 13 million square feet of office space throughout Manhattan, alongside a residential collection of 3,400 units covering three million square feet. The organization holds membership in the Real Estate Board of New York (REBNY). In 2020, the Durst family's net worth was estimated at $8.1 billion by Forbes.

History

Jewish immigrant Joseph Durst arrived in America in 1902 with minimal financial resources and initially earned a living as a tailor in New York City. By 1912, he had become a partner in a dress manufacturing enterprise, leveraging its profits to acquire his first property—the Century Building located at One West 34th Street—in 1915. In 1926, he purchased the original site of Temple Emanu-El at Fifth Avenue and 43rd Street for commercial redevelopment.

The formal foundation of The Durst Organization occurred in 1927 under Joseph Durst’s leadership. His sons Seymour, Royal, and David played key roles in expanding the company’s real estate assets within Midtown Manhattan. Subsequently, Seymour's sons Robert and Douglas joined the business. Early property acquisitions included a residential building at Fifth Avenue and 85th Street (1929), the Park Hill Theater in Yonkers (1936), and 205 East 42nd Street (1944), which is currently anchored by the City University of New York.

Following Joseph’s passing in 1974 during an economic downturn, Seymour assumed control until his retirement in 1992, at which point Douglas took over leadership responsibilities. Seymour died in 1995. With Douglas serving as chairman and cousin Jody Durst as president—alongside emerging leaders Helena and Alexander—the company has sustained its influential market presence into the modern era.

Expansion into construction and projects

During the 1950s, The Durst Organization broadened its scope from property management to include construction and development activities, acquiring land parcels and completing numerous buildings many of which remain under its ownership today. One of its most prominent assets is One World Trade Center.

The Lorillard Building marked the company’s inaugural construction project—a 29-story office tower located at 200 East 42nd Street (currently known as 655 Third Avenue)—managed by David M. Durst, son of founders Joseph and Rose Durst. Acquired in 1958 and completed by 1959, it originally served as headquarters for the Lorillard Tobacco Company.

The portfolio expanded to encompass both commercial and residential properties frequently designed by Emery Roth & Sons. Key developments include the 24-story office building at 733 Third Avenue (1961); the 32-story tower at 201 East 42nd Street (now 675 Third Avenue), which was sold to David Werner Real Estate in 2025; and the Henry Miller's Theatre site acquired in 1968 that was redeveloped into the Bank of America Tower while preserving its neo-Georgian facade facing what is now the Stephen Sondheim Theatre. Additionally, the company completed the 40-story office structure at 825 Third Avenue in 1969.

Several significant skyscrapers were completed under Durst’s direction: the 45-story building at 1133 Avenue of the Americas (1970) and the 41-story tower at 1155 Avenue of the Americas (1984), both ranking among the tallest globally during their completion periods. The U.S. Trust Building at 114 West 47th Street was finalized in 1989, followed ten years later by 4 Times Square, a 48-story tower.

In the early twenty-first century, Durst introduced several major projects: Helena—a 38-story building named after Douglas Durst’s daughter—at 601 West 57th Street (2005); The Epic, a 57-story structure completed in 2007; and the Bank of America Tower at One Bryant Park, rising to 58 stories (2008).

More recently, Sven, a residential tower standing 71 stories near Queens Plaza, was completed in 2021 and ranks as the world’s approximately 1270th tallest building. In addition, Durst further expanded its footprint with two developments—20 Halletts Point and 30 Halletts Point—in Astoria, Queens, opening in 2025.

These projects highlight The Durst Organization’s strategic approach to growing its influence across New York’s commercial and residential real estate markets through focused acquisitions and landmark construction initiatives.

One World Trade Center development

In 2010, The Durst Organization acquired a $100 million equity stake in the One World Trade Center initiative, partnering as a co-developer with the Port Authority of New York and New Jersey. The arrangement featured a $15 million fee along with a portion of the cost savings generated by modifications to the base building, whereby Durst was entitled to 75% of savings up to $24 million, with a reduced percentage applied beyond that threshold.

Subsequent to Durst's engagement, three significant alterations were implemented in the tower’s design: the 185-foot base was reshaped into a square form and adorned with vertical glass fins combined with stainless-steel slats rather than the originally planned prismatic glass panels. The spire, which was initially designed to include a fiberglass radome, was left exposed—resulting in a reduction of the official height from 1,776 feet to 1,368 feet—yielding an estimated $20 million in savings. Although this modification drew criticism from the tower’s architect firm, Skidmore, Owings & Merrill, it ultimately received approval from Port Authority executive director Patrick Foye after being previously declined by his predecessor. Douglas Durst later confirmed that the antenna installation would proceed as originally intended.

Moreover, the plaza overlooking the Hudson River underwent redesign, replacing stainless steel steps with a landscaped terrace featuring planters. A skylight was also eliminated during these updates, which Foye characterized as "few and minor."

These deliberate design adjustments underscore The Durst Organization’s emphasis on optimizing cost-effectiveness and enhancing value within its prominent real estate developments.

See also

• National Debt Clock, created by Seymour Durst
• Robert Durst (1943–2022), estranged son of Seymour and brother of current CEO Douglas Durst