Durst Sells $135M Stake in Astoria, Queens, Multifamily Complex
By Amanda Schiavo February 13, 2025 4:51 pm
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The Durst Organization has sold a minority stake worth $135 million in its Halletts Point multifamily project in Astoria, Queens.
Affinius Capital acquired a stake in some of the buildings that make up Durst’s Halletts Point project, according to The Real Deal, which first reported the story.
The investment is for the construction of 20 and 30 Halletts Point, a pair of 27- and 32-story multifamily buildings with 647 units and 8,000 square feet of ground-floor retail.
Doug Harmon and Adam Spies from Newmark (NMRK) negotiated the purchase. Representatives for Newmark and Durst did not immediately respond to requests for comment.
“Once complete, 20 and 30 Halletts Point will represent one of the highest-quality multifamily projects in Astoria and serve as the cornerstone of the broader Halletts Point master plan, establishing a vibrant waterfront community uniquely suited to capitalize on Astoria’s dynamic growth and increasing residential demand,” David Greenburg, managing director at Affinius, said in a statement. “We are grateful to expand our relationship by once again partnering with Durst.”
Halletts Point broke ground in 2016. The first building at Halletts Point to open was 10 Halletts Point in 2019.
Durst’s is in the midst of this larger project on the Queens waterfront that is expected to span over 2.4 million square feet of developed space and have 2,400 residential units.
Affinius bought stakes in 3-24 27th Avenue along with 20 and 30 Halletts Point, according to TRD.
And this isn’t the first time Affinius has partnered with Durst in Queens. Last year, Affinius purchased a $105 million share of Durst’s Sven rental tower in Long Island City, Commercial Observer previously reported.
“Our partnership with The Durst Organization, renowned multigenerational developers of New York City’s most prestigious properties, underscores our confidence in the submarket and Sven’s potential to redefine luxury living in this dynamic urban landscape,” Greenburg said at the time.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
