NEW YORK CITY-Douglas Durst, whose company is one of twocontenders for a minority stake in 1 World Trade Center, told theNew York Post Tuesday that he supported the decision bythe Port Authority of New York and New Jersey to delay choosing afinancial partner. “It’s an important decision and they should takeas much time as they think is necessary,” said Durst, chairman andco-president of the Durst Organization.


Similarly, the Post quoted Related Cos., the otherremaining finalist out of a field of six, as saying the choice of apartner in the $2.6-million-square-foot project is “a criticaldecision and should not be rushed.” The Port has been consideringpotential partners since January. Published reports had said theauthority might announce its decision at this week’s monthlymeeting, but now has pushed it off until at least the Julymeeting.


In exchange for a $100-million stake in the office tower, theminority partner would get management and marketing rights. Clickhere for the complete Post story.


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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.