1212 Fifth Avenue News

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Focused and active

While the tower remains Durst’s central focus, it remains active in other areas, particularly residential housing with its Durst Fetner affiliate. The firm recently opened condos at 1212 Fifth Avenue in Harlem, and it has a mixed-use rental project planned in Herald Square. One of the city’s most talked about projects, the Bjarke Ingels-designed West 57th Street, which resembles a pyramid, is undergoing land use review. “The demand for rental residential market is strong and we expect it to stay strong,”…

Publication: Real Estate Weekly

Date: 2011-09-09

Author: Roland Li

Great Wall Falls: Dursts Finally Leave Manhattan

Douglas Durst and his cousin Jody may be the most powerful pair in New York real estate. They’ve taken up Seymour Durst’s Midtown empire and stretched it across Manhattan, so why not try the trick on another island far, far away?

Publication: New York Observer

Date: 2011-08-08

Author: Matt Chaban

Wave of new development gains momentum

Meanwhile, Durst Fetner’s much-lauded West 57th Street plan, a pyramid-like rental designed by Bjarke Ingels, is undergoing land use review. It also has plans for a $350 million, 40-story rental tower, with a commercial base at Herald Square. The tower will be located at a long-stalled development site on Sixth Avenue, spanning West 31st and 30th Streets. The project is to be designed by Cook + Fox, architects of Durst’s One Bryant Park, and more details will be revealed around October, said Fetner.

Publication: Real Estate Weekly

Date: 2011-07-25

Author: Roland Li

Hal Fetner on 1212 Fifth, 855 Sixth and More

Since 2008, Hal Fetner has been the president and CEO of Durst Fetner Residential, the joint venture with the Durst Organization that has developed high-end residential projects across Manhattan and the New York metro region. Besides the Epic and the Helena, a pair of LEED Gold projects completed several years ago, the group has most recently spearheaded developments at 1212 Fifth Avenue, 855 Sixth Avenue and West 57th Street, the high-concept, 600-unit residential building between 11th and 12th avenues. Mr.…

Publication: New York Observer

Date: 2011-07-25

Author: Jotham Sederstrom

Mixed results for second quarter Manhattan sales

“We’re very bullish on the larger apartments,” said Hal Fetner, president and CEO of Durst Fetner Residential, which is beginning sales at 1212 Fifth Avenue, a condo converted from a Mt. Sinai hospital building, with a mix of one, two and three-bedroom units. Prices are an average of around $1,300 per s/f. Fetner said that there remained a disparity between desirable, high-end product and the middle of the market, particularly for new development. “The condos that are coming online right now, in these…

Publication: Real Estate Weekly

Date: 2011-07-01

Author: Roland Lee

Median sales price rises for luxury Manhattan condos

“I think the market is warming up,” said Damon Pazzaglini, chief operating officer at Durst Fetner Residential, a New York residential developer. “But I think there is a lack of supply for what people really want. It is a market where people are not going to buy something they don’t really want.” He added, “I’m hearing there is no supply of new three bedrooms.”
It’s in this area where Pazzaglini believes developments like Durst Fetner’s 1212 Fifth Avenue, an upscale condo development, can fill the void.

Publication: Housing Wire

Date: 2011-07-01

Author: Kerri Panchuk

Money available for 'good' NYC real estate projects

In the past year, major lenders have been providing construction financing to well-capitalized lenders like Durst Fetner Residential, which is doing a total gut renovation and redevelopment of the classic building at 1212 Fifth Avenue at 102nd Street, as well as for the Litwin Organization’s projects on the West Side including Lincoln Center.

Publication: The Real Deal

Date: 2011-06-10

Author: Michael Stoler

Durst Tops Out on Rare UES Rental Tower

Great views of the Park are much-talked-about and rarely achieved. And so with a mixture of awe and schadenfreude, The Observer went near the top of Durst Fetner Residential’s new 42-story tower, and looked clear across the sparkling vista of Central Park on a spring morning.

Publication: The Observer

Date: 2011-05-26

Author: Laura Kusisto

Pyramid Tower To Rise On Manhattan's West Side

It’s now an empty lot, but big plans are in the works to turn a stretch of West 57th Street into an eye-popping, ultra modern tower. “The design of the building is really quite interesting. It is a 600 and some odd unit residential rental in the shape of a pyramid with a sloping roof,” explains Durst Fetner Residential C.E.O. Hal Fetner.

Publication: NY1

Date: 2011-02-17

Author: Jill Urban

Durst Opens New Era with BIG Apartment Pyramid

Back when we first got a glimpse of Dutch architect Bjarke Ingel’s new apartment project for Durst Fetner, it immediately became the most exciting new project in at least a generation. Though seen only in comic-book form and as a fleeting still from a flythrough video (see below), the building at 57th Street and the Hudson River became an immediate sensation.

Publication: New York Observer

Date: 2011-02-08

Author: Matt Chaban

Pyramid Scheme: Bjarke Ingels reinvents the New York apartment building

Architects mature slowly; prodigies are rare. Yet at an age when most of his peers are still sitting in cubicles, laboring over light fixtures and door handles, Bjarke Ingels, a photogenic 36-year-old Dane with offices on two continents and projects on three, is about to revamp one of New York’s basic units: the apartment building.

Publication: NY Magazine

Date: 2011-02-06

Author: Justin Davidson

New Skyscraper Ignites Growth Below 34th Street

A real-estate group led by developer Douglas Durst plans to break ground within the year on a $350 million skyscraper just south of Herald Square, in one of the first major private construction projects to move forward in the wake of the downturn.

Publication: Wall Street Journal

Date: 2011-01-10

Author: Dana Runinstein