Nationality United States Occupation real estate developer | Spouse(s) Rose Friedwald Name Joseph Durst | |
Known for founder of the Durst Organization Died January 1974, New York City, New York, United States Children Seymour Durst, David Durst, Roy Durst, Edwin Durst, Alma Askin Similar People | ||
Joseph Durst (January 15, 1882 – January 1, 1974) was an American real estate developer, founder of the Durst Organization, and patriarch of the Durst family.
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Early life
Born to a Jewish family, Durst immigrated to the United States from Gorlice, Galicia, Austria-Hungary in 1902 with three dollars to his name. He worked as a tailor in New York City and in 1912, he became a full partner in the dress manufacturer, Durst & Rubin. Using the profits from his business, he invested in real estate, purchasing his first building in 1915, the Century Building (at 1 West 34th Street). In 1926, he acquired the original Temple Emanu-El (at 5th Avenue and 43rd Street) from Benjamin Winter, Sr., demolishing it in 1927 to build a commercial building. In 1927, he formed the Durst Organization.
Acquisitions and development
Thereafter, the Durst Organization continued to make selective acquisitions including:
Later he shifted the focus of the company from primarily real estate management to new construction and development. He assembled the parcels for and completed the following buildings (all of which the Durst Organization continues to own):
Legacy
In 1974, Joseph Durst died and his son Seymour Durst took control of the company during the real estate crash of the 1970s. The Durst family went on to become one of the most established and prominent real estate families in New York City in the 20th century (along with the Roses, the Lefraks, the Rudins, and the Tisch family). As of 2012, the Durst Organization continues to be owned and operated by the third generation of the Durst family owning and managing more than 8.5 million square feet of Class A office space in Midtown Manhattan and over 1 million square feet of luxury residential rentals.
Personal life
Durst was married to Rose Friedwald; they had five children: Seymour, Roy, Alma, Edwin and David. Durst was also very active in the Jewish community, serving on the executive committee of the Jewish Education Association and as president of the Hebrew Free Loan Society for 27 years. His grandson is American screenwriter and director Peter Askin.
Durst died on New Year's Eve 1973–74 in his home, 1136 Fifth Avenue.