The Durst Organization
1155 Avenue of the Americas, New York, NY, 10036, United States
Overview
For over 100 years, The Durst Organization has been a family-run business dedicated to the principles of integrity, innovation, community, and sustainability. We develop, build, own, and manage premier office towers and residential buildings that set new standards in environmental responsibility and user efficiency. Our enduring relationships with our tenants and partners are critical to our success and have ensured the longevity of The Durst Organization. Durst Ventures is a strategic investment portfolio. Its Venture Capital strategy seeks innovate solutions to build and operate buildings more efficiently and to deliver a higher level of service to our tenants and residents. Additionally, Durst Ventures seeks to act as a hub of innovation for The Durst Organization and to address industry challenges. Areas of particular interest include Construction Technology, Operations Technology, Automation and Robotics, Climate Tech, Sustainability, Carbon Mitigation, and Energy Storage.
- Total investments
- 6
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 1
Sector focus
- Real Estate
Investment portfolio
- Skyline Robotics
Participated · Series A · Dec 2023
Skyline Robotics is a deep‑tech robotics and automation company whose flagship product, Ozmo, is a robotic‑armed high‑rise window cleaning system. Ozmo combines artificial intelligence, machine learning, computer vision, advanced robotics, and sensors to clean building façades up to three times faster than humans while reducing risk. The company positions Ozmo as a safer, faster, and more economical alternative in the $40B window cleaning industry and aims to expand automation to other types of work at heights. Skyline is expanding internationally — including plans for NYC and London — and has a partnership with Principle Cleaning Services to deploy Ozmo in London. It has secured patents in Japan and Singapore and plans to grow its R&D team and formalize a new construction line of business. Skyline recently closed a $9.8M Pre‑Series A‑2 round (including SAFE conversions), bringing total capital raised to $19.4M; proceeds will support expansion and product development. Skyline Robotics is a deep tech robotics and automation company whose flagship product, OZMO, is described as the world’s first high-rise window-cleaning robot. OZMO combines artificial intelligence, machine learning and computer vision with advanced robotics and sensors to address labor shortages and worker safety in the $40B window cleaning industry. The company has been granted key patents in Japan and Singapore and has already deployed its first robots in New York City while pursuing worldwide expansion and go-to-market strategies for major cities. Skyline received a 2023 RBR50 Robotics Innovation Award for Ozmo and emphasizes a safer, more efficient alternative to human window cleaners. Financially, Skyline completed a $3.35M funding round raised through a SAFE note to support its 2023 business operations plan and has raised $12M in total to date. Management stated the round was raised on more attractive terms than prior rounds, citing validated milestones and demand for the robotics solution as drivers of investor confidence. Skyline Robotics' flagship product, Ozmo, is described as the world’s first high‑rise window‑cleaning robot, combining AI, machine learning, computer vision and sensors. The company positions Ozmo as a safer, faster and more economical alternative to human window washers while aiming to create a human‑robot working partnership rather than replace jobs. Skyline is preparing for the first customer deployment of Ozmo in New York City and plans to expand its New York City team. The recent funding will support continued product development and new capabilities to "own the facade operations of the future." Skyline says it is disrupting the $40B window‑cleaning industry with its automation approach. Financially, the company closed a $6.5M pre‑Series A and has raised $9M to date. Skyline Robotics develops Ozmo, a window‑cleaning robot that uses computer vision and machine learning to map complex skyscraper geometries and create efficient cleaning paths. Ozmo uses distilled water as its only cleaning supply and is designed to remove humans from high‑risk window‑washing work. The company says Ozmo can speed traditional cleaning by about 18× — reducing a 40‑story building job that would require three cleaners each working roughly 480 hours into about one week with a single operator on the ground. Founded in 2017 by Avi Abadi and Yaron Schwarcz, the founders researched the job by getting certified and working as window washers before building the product. Less than a year after founding the team had systems deployed on several of Israel’s largest buildings, though they had not yet cleaned an entire building start‑to‑finish. Skyline plans to lease Ozmo to cleaning and maintenance companies worldwide on a revenue‑share, no‑upfront‑cost model, targeting the $10B window‑washing market and then the broader construction industry. The company also states it will implement a CSR program to fund two years of basic engineering training for displaced window washers once it begins generating revenue.
- Funnel
Participated · Equity · Nov 2018
Funnel provides a renter-centric RMS platform that treats the renter — not the property — as the source of truth, enabling enterprise-wide visibility across the entire renter journey. Its completed front-office suite includes CRM, a virtual leasing agent, online leasing, onboarding, and a resident portal. The platform leverages AI and automation to reduce rote tasks, enable shared services and role specialization, and allow operators to move away from antiquated 1:100 leasing models to improve margins and team experience. Funnel says its centralized operating model is already embraced by eight companies that rank among the top 20 owners or operators, along with many other customers. The company is expanding its sales and marketing teams and recently added multifamily veteran Johnny Hanna to the team. Financially, Funnel announced a $32 million Series B-2 financing to expedite adoption of its new operating model. Funnel provides a full-stack, renter-centric leasing and marketing platform that centralizes leasing operations and automates the renter journey for multifamily owners and operators. Its product suite includes Engage (CRM and lead management), Amplify (natural language virtual leasing agent), Convert (online leasing with instant income verification via a FinTech integration), and Signal (listing syndication and data capture). The company emphasizes placing the renter at the center of interactions to improve leasing efficiency, reduce operational costs, and optimize marketing spend. Funnel has expanded from an apartment marketing platform founded in 2010 to a broader end-to-end leasing solution since 2018. The business reports 115% year-over-year revenue growth and has doubled headcount from 40 to 80; its platform is used by 17 of the NMHC Top 50 and Engage is deployed by 5 of the NMHC Top 20 owners. Funnel plans to develop renter onboarding, resident portal, and retention tools to complete the end-to-end renter journey. Nestio offers a next-generation marketing and leasing automation platform that streamlines the entire rental process for multifamily owners, operators and renters. The platform centralizes inventory distribution, lead tracking and management, renter engagement and touring, and delivers advanced real-time reporting within a single dashboard. Enhancements include automated workflows and machine learning to expedite responses and improve efficiency across the leasing lifecycle. CEO Caren Maio, who founded the company from a renter’s perspective, says the product aims to make finding and renting an apartment as easy as booking a hotel or restaurant. Nestio’s customers manage hundreds of thousands of listings across major U.S. markets including New York, Boston, Chicago, Houston and Dallas. The company emphasizes delivering effortless, on-demand and personalized experiences for renters while improving operator efficiency. Nestio began as a renter-focused tool and has evolved into a full-service leasing and marketing platform for residential landlords and brokers. The product allows customers to manage inventory, track leads, advertise listings, and communicate in real time with consumer-facing sites such as Trulia and Zillow. Nestio says it now originates half of New York City’s rental listings and has generated over $20 million in additional revenue for clients. The company is currently live in NYC and plans to expand to Boston, Chicago, Miami and Washington, D.C. New funding will be used to execute that geographic expansion, advance the product roadmap, and grow the sales, marketing, and engineering teams. The company also announced the addition of Scott Wolfgang as CFO; he previously worked at Quotidian Ventures and served on the Hootsuite board. Nestio launched out of TechStars in 2011 as a consumer-facing apartment search tool but pivoted in 2013 to focus on landlords and brokers. It builds back-end tools that let landlords and brokers constantly update inventory and availability in real time, replacing workflows that relied on Google Docs, faxes, phone calls and paper files. The platform has been adopted widely in New York and now handles more than 30 percent of New York’s rental market. The Real Estate Board of New York named Nestio’s platform one of four approved technology vendors. The company says it is operating “above the line” and is growing rapidly in the real estate community. Recent funding will be used to accelerate growth and add hires, predominantly on the sales side.
- Honest Buildings
Participated · Series B · Jun 2018
Honest Buildings offers a project management platform designed for real estate owners to manage capital and construction projects. The platform is used by global, national and local owners including Brookfield, Oxford Properties, First Capital Realty, The Durst Organization, Beacon Capital Partners, Invesco, SL Green, Silverstein Properties, JBG Smith, and others. The company plans to use new funding to invest in product, engineering, design and customer success teams, and to expand the platform’s scope of functionality. Management intends to double staff in the next year. Honest Buildings is led by Co‑Founder and CEO Riggs Kubiak and is based in New York City. To date the company has raised $48M. Honest Buildings is a project-management platform built for and backed by real estate owners. The platform serves owners including Brookfield, Oxford Properties, Beacon Capital Partners, Invesco, SL Green, The Durst Organization, Silverstein Properties, JBG Smith, Harvest Properties, Parkway Properties, and Rudin Management. Led by founder and CEO Riggs Kubiak and based in New York City, the company provides project management tools tailored to real estate owners. It raised an additional $3.5M in Series B funding, bringing the Series B to $25M and total investment to date to $43M. Honest Buildings intends to use the funds to expand across North America and beyond, grow its product and business development teams, and explore new partnerships and integrations. Honest Buildings offers a project management technology platform designed to help commercial real estate owners complete capital and construction projects on time and on budget. The platform is used by major owners and managers including Brookfield, Oxford Properties, Beacon Capital Partners, Invesco, SL Green, The Durst Organization, Silverstein Properties, JBG Smith, Harvest Properties, Parkway Properties and Rudin Management. The company is led by CEO Riggs Kubiak. In October 2017 Honest Buildings announced a $13M Series B, and in 2018 it raised an additional $8M, bringing the total Series B to $21M. The new capital is intended to support expansion across North America and into select international markets and to grow its product and business development teams. Michael Turner of Oxford Properties joined the Honest Buildings board in conjunction with the funding. Honest Buildings offers a project-management platform specifically for real estate owners and operators, centralizing project data, automating bid management, standardizing reporting, and increasing transparency. The product is used to manage capital and construction projects portfolio-wide to help owners deliver projects faster, reduce costs, and make data-driven decisions. Customers named in the article include Brookfield, Beacon Capital Partners, Invesco, JBG Smith, SL Green, Parkway Properties and Rudin Management. The company reports over $6 billion in projects have run through the platform and a 500% growth rate, with expansion to properties in every U.S. state and into Canada. Recent new users include The Durst Organization, Silverstein Properties, Harvest Properties, Divco West and Washington REIT. Honest Buildings emphasizes building its platform in partnership with real estate owners and continuing to scale adoption among large landlords. Honest Buildings operates a centralized online network that connects real estate owners and developers with their vendors. It provides a secure procurement and workflow platform built specifically for real estate owners, managers, and investors to automate project bidding and review, reduce project costs, and mitigate counterparty risk. The company has facilitated nearly $600 million of construction projects since its founding and counts clients including WeWork, Kushner Companies, Equinox, Benchmark Real Estate Group and Madison Realty Capital. Launched in 2012 and led by founder and CEO Riggs Kubiak, Honest Buildings is based in New York City. The company has raised more than $17 million in venture capital to date and recently closed a $5 million strategic A-2 financing.
- Convene
Participated · Series C · May 2017
Convene Hospitality Group operates a house of hospitality brands—including Convene, etc.venues, and NeueHouse—offering dedicated meetings, events, and boutique hospitality spaces with design-forward venues, production capabilities, and chef-driven cuisine. Launched in 2009 and headquartered in Manhattan, the company positions itself as the largest provider of dedicated meetings and event venues in the U.S. and UK. Convene emphasizes human-centered service, performance-focused operations, and advanced production and design capabilities. With the new $230 million financing, Convene plans to accelerate global expansion through new development, technology and production investment, and selective acquisitions. The company has slated New York City openings in 2026, including a Convene in the Scholastic Building in SoHo and immersive venues The Aperture and The Mallory.
Team
Jason Risorto
Director
LinkedIn