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Durst Fetner buys midtown building for $8 million

By
3:03 pm, June 28, 2011

110 West 31th Street, PropertyShark

By Roland Li

Durst Fetner Residential, the residential division of the Durst Organization, has purchased 110 West 31st Street for $8 million, according to city records.

The seller was Walter Chin, president of Brooklyn-based 110 W. 31st St. Realty Corp. An official at the company declined to comment.

The property is 7,896 s/f and four stories, according to PropertyShark, and sits adjacent to a seven-parcel development site that Durst Fetner purchased last year in a foreclosure auction.

As the Real Deal reported, real estate investors Yitzchak Tessler, Meyer Chetrit and Jacob Chetrit had previously planned to build a 355,000 s/f tower on the site, but the recession disrupted their plans. Tessler and the Chetrits had been in contract to purchased 110 West 31st Street, but they never closed on the property.

The building could be demolished to add additional size to the adjacent development site, which has 378,370 s/f of buildable space, according to PropertyShark.

A spokesman for Durst wasn’t immediately available to comment.

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  • Anonymous

    Durst Fetner Residential is the famous division of the Durst Organization. They purchased 110 West 31st Street for $8 million. The main thing is that it is a city records.

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  • Anonymous

    It is really a city record that Durst Fetner Residential purchased 110 West 31st Street for $8 million. I can not understand why real estate market is so high.

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    The price of $8 million really seems high for that property. I wonder what the Durst Organization have seen in the property at 110 West 31st Street.

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    Durst Fetner i think has paid quite more what that property actually cost.. But finally he is happy so why should care after all he is a rich man.