Douglas Durst
Douglas Durst
Chairman at The Durst Organization
In 2021, will you buy or sell any real estate? What kind?
In New York, if you can afford to be patient, it is always the right time to buy.
How f@*$ed is retail?
Rents adjust to market conditions and will go down. Regulatory schemes do not. I fear we may have lower rents, but tremendous barriers to entry that will slow the retail recovery. However, New York City always attracts entrepreneurs, and there will be tremendous opportunity for innovators and risk-takers.
How flexible are you with negotiating rents?
If you have a need, yes; but if you took your operating reserve and bought a fleet of sports cars last year, then not so much.
Has your “dead to me” list grown?
It was long to begin with.
Are you in the market for financing?
No.
What would be the signs that things are NOT going to improve in 2021?
More PowerPoints.
What do you think will NOT go back to normal?
Bench seating in offices.
Who do you like for mayor in 2021?
Generals always fight their last war. We need the next mayor to lead a city whose economy is struggling with high unemployment and budget gaps, and who can summon the resources of all sectors to restart the economy.
What do you think the city and/or state should do to help both real estate and the city?
We have a regressive property tax system that disadvantages communities of color and renters; and taxes the super-rich at lower, effective tax rates than the small homeowners; and discourages the construction of rental housing. That would be a good place to start.
How do you think the November election will affect real estate? How do you see a Trump win? How do you see a Biden win?
We need competence, calm and to please wear masks.
LIGHTNING ROUND
Where’s your apocalypse bunker?
One Bryant Park
Favorite at-home quarantine foods? Smoked salmon
Did you gain or lose weight during quarantine? Pass
Sourdough bread, banana bread, other? Rye
Which TV show have you binged? “Succession”
What restaurant did you go to when restaurants reopened?
Ouisa
Mayor de Blasio: Best Mayor or Best Mayor EVER? Definitely deserves a superlative.
Best work-from-home hack?
Not taking care of the grandkids.
Where did you quarantine?
In the office.
Biden, Trump or Kanye?
Biden
