Nick Durst, 32

For Nick Durst, real estate is truly a family business, but one in which he hasn’t had a hard time distinguishing himself. 

At the Durst Organization, a New York City real estate development and management firm founded 111 years ago, Durst works as a transactions associate alongside his cousin, Douglas Durst, the firm’s chairman; his father, Jody Durst, its president; and his older brother, Lucas Durst, director of finance. Nick joined the elders only after spending his initial years out of college working in Austin, Texas, where he counseled private equity and venture capital clients. 

But after swapping late-night yarns by phone with his brother 1,700 miles away in New York, Nick made the decision to change careers and enter the family business. 

“Real estate is very much nuts and bolts and defined numbers, and that was really attractive to me,” he said. “But, also, the opportunity to work with my brother — he’s my best friend — is a unique experience that I’m happy I came back home for.” 

He conceded that others might not enjoy working so close with their immediate family, or in the shadow of previous generations of successful Dursts, but the situation suits him well. 

“Sometimes it can be difficult, but it’s also the most rewarding way to spend your career,” Durst said. “My brother and I get to work with each other the perfect amount: It’s not every day, but we are able to collaborate on a few different things, which makes it even more special when it happens.”

Nick helped the firm identify 675 Third Avenue and 205 East 42nd Street as prime candidates for residential conversions, and then quarterbacked the sales of those office assets to David Werner and MetroLoft Management, for $100 million and $165 million, respectively . 

“Traditionally, it’s not in Durst nature to sell buildings, so they appointed the new guy at the company to do it,” he said with a laugh. 

As for Durst’s traditional long-term hold strategy, Nick Durst will oversee additional investments and capital improvements into those assets, particularly 114 West 47th Street and 5 Grand Central East, a pair of towering office buildings in the heart of Manhattan. 

Not bad for a fourth-generation career changer.