Leonine developer Douglas Durst might not be quite the public presence than his father Seymour once was—a regular in the letters to the editor column and on local talk shows, among other outlets for his restless mind—yet he still very much knows his way around a podium. Last week, he found himself in China, talking about New York, and he even seems to admit that the one investment his firm recently made just across the Formosa Strait might not have been its best.
“My experience is almost completely New York centric,” Mr. Durst said at the China Alliance’s US-China Investment Summit: Focus On New York Real Estate in Shenzen. “Our one experience outside of New York convinced us to stay in New York. Real Estate is always local.”
He also, naturally, talked about his kids—it’s now a fourth generation business!—and how building sustainably not only provides better buildings, and thus better income, for them, but also a better world. There was talk of 4 Times Square and 1 Bryant Park, but nothing about the widely anticipated, mildly concerning West 57th Street pyramid. The full speech is below. Read More