Larry A. Silverstein is the Chairman of Silverstein Properties, Inc., a Manhattan-based real estate development and investment firm that has developed, owned and managed 40 million square feet of office, residential, hotel and retail space. The firm currently has $10 billion worth of development activity underway and has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for the eight years in a row.
In July 2001, Mr. Silverstein completed the largest real estate transaction in New York history when he signed a 99-year lease on the 10.6 million square feet World Trade Center for $3.25 billion, only to see it destroyed in terrorist attacks six weeks later on September 11, 2001. He has spent the last 14 years rebuilding the office component of the World Trade Center site, a $20 billion project that will consume the balance of his working life. In May 2006, Silverstein Properties opened 7 World Trade Center, the first office tower to be rebuilt at the site, and the first LEED-certified office building in New York City. In November 2013, the company opened 4 World Trade Center, a 72-story 2.3 million square foot building designed by Fumihiko Maki. The company is developing two other office towers on the WTC site – 2 and 3 World Trade Center, designed by Bjarke Ingels and Richard Rogers. Mr. Silverstein owns and manages many successful and high-profile commercial and residential properties in New York City, including 120 Broadway, 120 Wall Street, 529 Fifth Avenue and 1177 Avenue of the Americas. Mr. Silverstein recently completed and opened Silver Towers, two 60-story residential towers at 600 West 42nd Street, the companion to 1River Place, a 40-story, 921-unit tower which opened in 2000. The square block development houses over 2,200 families.
Mr. Silverstein is a member of the New York Bar and a Governor of the Real Estate Board of New York, having served as its Chairman. He has served as Chairman of the Realty Foundation of New York. A 1952 graduate of New York University, Mr. Silverstein served as Vice Chairman of the NYU Board of Trustees, where he continues to serve as member of the Board of Trustees of the New York University Langone Medical Center. He is the Founder and Chairman emeritus of the advisory board of the NYU Real Estate Institute. As a Professor of Real Estate, his “Silverstein Workshop” became one of the most attended and informative educational sources for learning real estate development and investment analysis.
Mr. Silverstein donates his time and resources to support many philanthropic endeavors. He has served as Chairman of the Board of UJA-Federation. He is a founding trustee of the Museum of Jewish Heritage in New York and has served as treasurer of National Jewish Health in Denver. Mr. Silverstein currently serves as a board member of the New York Philharmonic. He is a classical music enthusiast, a passionate yachtsman and a dedicated New Yorker. Larry and Klara Silverstein have been married for sixty years and have three children and one son-in-law, three of whom are executives at Silverstein Properties, and they also have eight grandchildren.
Featured Image Photo Credit: Courtesy of Larry Silverstein