NEW YORK CITY-The Durst Organization yesterday purchased the 22-story tower at 113 W. 42nd St. for a reported $12.5 million. Industry sources say the deal effectively puts to rest a long-running, high-profile feud between Developer Douglas Durst and the buildings former owner, the Maidman Family.

The property, which is located on the north side of 42nd street, midway between Sixth Avenue and Times Square, has been the missing centerpiece in Durst’s plan to develop a 1.5 million-sf office building adjacent to Durst’s 4 Times Square. The Maidmans had planned to build an apartment hotel on the 2,200-sf parcel, a plan Durst vehemently opposed. The two sides reportedly reached an agreement this week and closed the sale within 24 hours with no contract.

“Although the Maidman family was considering a renovation, they graciously decided that in the interest of furthering new office development in New York City, it was preferable to facilitate our completion of the mid-block assemblage,” Durst says in a prepared statement.

Durst says a decision on proceeding with the project will be made shortly. Demolition could begin in the summer, with occupancy in the new tower ready by sometime in 2005. Fox & Fowle has been retained as architects.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.