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Silverstein Properties

Silverstein Properties, Inc. is a privately held, family-owned real estate development, investment, and management firm founded in 1957 by Larry A. Silverstein and headquartered in New York City.^[1]^[2] The company focuses on commercial office towers, residential buildings, retail spaces, and hospitality projects, managing a portfolio of approximately 16 million square feet across the United States.^[3]^[4] The firm rose to national prominence through its acquisition of a 99-year lease on the World Trade Center complex from the Port Authority of New York and New Jersey in July 2001 for $3.2 billion, just six weeks before the September 11 terrorist attacks destroyed the towers and surrounding structures.^[5]^[6] Silverstein Properties spearheaded the site's redevelopment, completing 7 World Trade Center in 2006 as the first rebuilt skyscraper there and the initial commercial office building to achieve LEED Gold certification, while advancing construction on towers 2, 3, and 4, alongside residential and retail components.^[7]^[6] Beyond the World Trade Center, Silverstein Properties has developed luxury assets including the Four Seasons Hotel and residences at 30 Park Place in Tribeca, the Four Seasons Resort Orlando at Disney World, and residential complexes such as Silver Towers and One River Place in Manhattan.^[8]^[7] In 2017, the U.S. Department of Justice sued the company for alleged Fair Housing Act violations related to inaccessible design features in certain apartment buildings, resulting in a settlement that mandated inspections and retrofits without admission of liability.^[9]^[10] The firm emphasizes innovation in proptech, sustainable practices, and capital lending to support its projects.^[11]^[12]

Founding and Early Development

Establishment and Leadership

Silverstein Properties was established in 1957 by Larry A. Silverstein and his father, Harry G. Silverstein, marking the firm's entry into New York City real estate through the acquisition of its inaugural property: a loft building on Manhattan's East Side.^[13]^[14] Initially operating as Harry G. Silverstein & Sons, the company focused on property investment and management, building a portfolio grounded in commercial and office spaces amid post-World War II urban expansion.^[13] Larry A. Silverstein, born in 1931 in Brooklyn, assumed primary leadership roles early on, leveraging his education from New York University and practical experience to steer the firm toward larger-scale developments. By the late 1970s, the portfolio encompassed approximately four million square feet of space, reflecting disciplined growth through targeted acquisitions rather than speculative ventures.^[13] Silverstein Properties has remained a family-held entity, emphasizing long-term ownership and operational control over external financing dependencies.^[15] Larry Silverstein continues as Chairman, providing strategic oversight informed by decades of navigating market cycles and regulatory environments. In October 2023, his daughter, Lisa Silverstein, succeeded as Chief Executive Officer, responsible for capital allocation, asset management, and corporate initiatives, ensuring continuity in family governance while adapting to contemporary investment demands.^[16]^[17] This transition underscores the firm's private structure, which prioritizes internal decision-making over public shareholder pressures.^[15]

Initial Projects and Growth

Silverstein Properties was established in 1957 by Larry Silverstein and his father, Harry G. Silverstein, initially operating as Harry G. Silverstein & Sons. The firm's inaugural acquisition was a loft building on East 23rd Street in Manhattan, purchased with financing comprising a $15,000 personal loan, a $350,000 mortgage, and $250,000 raised from 22 tenant-investors who became stakeholders in the property.^[13] ^[18] This early venture focused on renovating underutilized loft spaces for commercial leasing, marking the beginning of a strategy centered on value-add acquisitions in New York's commercial real estate market. Following Harry Silverstein's death in 1966, Larry Silverstein partnered with brother-in-law Bernard H. Mendik to expand the portfolio through additional loft building purchases in Manhattan during the late 1960s.^[13] The partnership dissolved in 1972 amid economic downturns and differing visions, after which Silverstein shifted toward larger office properties. By 1978, the company's holdings had grown to approximately four million square feet, encompassing buildings such as 521 Fifth Avenue, 529 Fifth Avenue, 530 Fifth Avenue, 689 Fifth Avenue, 711 Fifth Avenue, 44 Wall Street, and a shopping center in Stamford, Connecticut.^[13] ^[19] This expansion continued into the early 1980s with high-profile transactions, including a $25 million renovation of the 33-story office tower at 11 West 42nd Street in collaboration with Tishman Speyer Properties, the acquisition of the 26-story 120 Wall Street building, and a $60 million lease for 120 Broadway.^[13] These moves diversified the portfolio beyond lofts into premium downtown and midtown office assets, positioning Silverstein Properties as a significant player in New York City's commercial real estate sector by controlling over 10 million square feet across 13 buildings by 1989.^[13]

Pre-9/11 Major Projects

Commercial Real Estate Ventures

Silverstein Properties, founded in 1957 by Larry Silverstein and his father Harry, initially focused on acquiring and managing small commercial properties in Manhattan, starting with a loft building on East 23rd Street.^[13] By the late 1970s, the firm had expanded its portfolio to approximately four million square feet, including office buildings such as 44 Wall Street and retail-commercial spaces along Fifth Avenue like 521, 529, 530, 689, and 711 Fifth Avenue, alongside a shopping center in Stamford, Connecticut.^[13] In 1980, the company undertook significant commercial renovations and acquisitions, completing a $25 million overhaul of the 33-story office building at 11 West 42nd Street in partnership with Tishman Speyer Properties, enhancing its appeal for tenants in Midtown Manhattan.^[13] That same year, Silverstein acquired the 120 Wall Street office tower—a 47-story Art Deco skyscraper originally completed in 1930—for integration into its growing lower Manhattan holdings—and secured a leasehold interest in the historic 120 Broadway (Equitable Building), a 38-story structure finished in 1915 that set early precedents for skyscraper design and setback zoning laws, at a combined cost of around $60 million.^[13] A landmark achievement came in 1986 with the completion of 7 World Trade Center, a 47-story office tower comprising about two million square feet adjacent to the original World Trade Center complex in Lower Manhattan.^[13] Developed after Silverstein won a competitive bid from the Port Authority of New York and New Jersey in 1980, the building featured innovative engineering, including a direct connection to a Consolidated Edison electrical substation to ensure reliable power supply, positioning it as a premium address for financial firms like Salomon Brothers, its anchor tenant.^[13] By 1989, the firm's commercial portfolio exceeded 10 million square feet across 13 properties, reflecting steady growth through targeted developments and opportunistic acquisitions in New York's competitive office market.^[13]

Expansion into Mixed-Use Developments

In the late 1980s, Silverstein Properties diversified from its primary focus on commercial office buildings into mixed-use developments, exemplified by the 43-story Embassy Suites hotel at Herald Square, which integrated hotel accommodations with a theater space.^[13] Concurrently, the firm developed A&S Plaza, a 1 million square foot shopping mall adjacent to the hotel site, further incorporating retail elements into urban projects.^[13] This period also saw initial forays into residential real estate with the completion of Park Avenue Court, a condominium on East 86th Street, signaling a strategic broadening of portfolio beyond traditional office leasing.^[13] By 2000, the expansion continued with the completion of 1 River Place, the first 40-story residential tower (921 units) in a planned 1,700-unit complex on West 42nd Street in Hell's Kitchen, emphasizing luxury rentals with Hudson River views and marking a significant residential commitment pre-dating the firm's World Trade Center lease.^[13] These initiatives reflected adaptive responses to market dynamics, including zoning challenges in underutilized areas, while prioritizing high-density, amenity-rich structures to enhance community integration.^[20]

World Trade Center Involvement

Lease Acquisition in 2001

In 1998, the Port Authority of New York and New Jersey announced plans to privatize the World Trade Center by leasing its commercial properties, marking the first time the complex would be managed by private entities rather than a public bi-state agency.^[21] This initiative aimed to improve operational efficiency and generate revenue, as the WTC had faced occupancy and maintenance challenges under public ownership.^[22] Silverstein Properties, led by Larry Silverstein, entered the competitive bidding process in late 2000, submitting an initial offer valued at approximately $3.22 billion for the office components in January 2001.^[23] The bid covered about 10.6 million square feet of office space across the Twin Towers (1 WTC and 2 WTC), 4 WTC, and 5 WTC, while Westfield America, Inc., partnered for the retail mall portion.^[24] After the leading bidder, Vornado Realty Trust, withdrew in March 2001 citing asbestos and operational concerns, Silverstein renegotiated terms, securing the deal with a finalized bid of $3.21 billion, including a $100 million non-refundable deposit via letter of credit.^[23] The Port Authority board approved the transaction on April 26, 2001, with a preliminary agreement signed the following day.^[22] The 99-year net lease became effective on July 24, 2001, transferring operational control to Silverstein Properties and obligating annual payments estimated at $615 million in rent and other fees over the term, based on a present value of $3.2 billion.^[21] Under the agreement, Silverstein assumed responsibility for maintenance, security enhancements, and potential redevelopment, while the Port Authority retained ownership of the site and subsurface elements.^[25] This acquisition positioned Silverstein Properties as the primary private developer of Lower Manhattan's premier office complex, just six weeks prior to the September 11 attacks.^[5]

September 11 Attacks and Immediate Aftermath

Silverstein Properties finalized its 99-year lease for the World Trade Center's commercial portfolio—including Towers 1 and 2, 4 through 6, and 7—on July 24, 2001, for an estimated $3.2 billion, assuming responsibility for operations and maintenance from the Port Authority of New York and New Jersey.^[21]^[25] On September 11, 2001, Larry Silverstein, the firm's chairman, was not in the complex for his customary breakfast at Windows on the World in Tower 1 due to a dermatologist appointment insisted upon by his wife, sparing him from the initial strikes.^[26] His son Roger and daughter Lisa, employees of the firm with offices in the buildings, also escaped harm by arriving late that morning. At 8:46 a.m., American Airlines Flight 11 impacted Tower 1 between the 93rd and 99th floors; United Airlines Flight 175 struck Tower 2 between the 77th and 85th floors at 9:03 a.m.^[27] The resulting fires and structural damage caused Tower 2 to collapse at 9:59 a.m. and Tower 1 at 10:28 a.m., killing 2,606 people in and around the towers, including tenants and first responders.^[27] Debris from the collapses ignited fires in nearby structures, including 7 World Trade Center, which burned uncontrolled for seven hours as firefighting efforts focused on rescue operations elsewhere. The New York Fire Department, having lost 343 members that day, withdrew personnel from 7 WTC around midday after deeming further intervention futile amid risks of further collapse. Silverstein later described a conversation with an FDNY commander: "I remember getting a call from the fire department commander, telling me that they were not sure they were gonna be able to contain the fire, and I said, 'We've had such terrible loss of life, maybe the smartest thing to do is pull it.' And they made that decision to pull and then we watched the building collapse."^[28] He clarified that "pull it" referred to withdrawing firefighters, consistent with FDNY accounts of abandoning suppression efforts, rather than any demolition order, which would have required weeks of preparation impossible in the chaotic hours following the attacks.^[28]^[29] Building 7 collapsed at 5:20 p.m. from thermal expansion and failure of a critical column due to prolonged fires, per the National Institute of Standards and Technology's analysis.^[30] In the hours and days immediately after, Silverstein Properties coordinated with authorities on site security and recovery amid the 1.8 million tons of debris, while Silverstein pledged swift rebuilding to restore the site's economic vitality, declaring that retreat would concede victory to the attackers.^[26] The destruction rendered the entire 10 million square feet of leased office space unusable, displacing 50,000 workers and inflicting billions in property losses covered under the firm's recently procured insurance policies.^[27]

Insurance Litigation and Resolutions

Silverstein Properties, through its affiliate World Trade Center Properties LLC, had secured property insurance policies totaling $3.55 billion per occurrence for the World Trade Center complex shortly before the September 11, 2001, attacks.^[31] Following the destruction of the Twin Towers by hijacked airplanes crashing approximately 17 minutes apart, the company filed claims asserting that each impact constituted a separate "occurrence" under the policies, seeking up to $7 billion in total payouts to cover replacement costs.^[32] Insurers, including Swiss Re, Travelers, and Allianz, countered that the coordinated terrorist attacks represented a single occurrence, limiting liability to the face value of the policies.^[32] Litigation commenced in federal court in Manhattan under Judge Alvin K. Hellerstein, with disputes centering on policy language, binder terms issued pre-9/11, and the definition of an occurrence.^[33] Early setbacks included a September 2003 appeals court ruling rejecting Silverstein's two-occurrence claim for certain insurers, emphasizing that preliminary coverage binders did not guarantee double indemnity without explicit terms.^[34] Progress came in April 2004 when a jury found two occurrences for policies from Travelers and other lead underwriters, and in December 2004, another jury ruled similarly for Swiss Re's excess layers, potentially doubling recoveries for those segments.^[32]^[35] These verdicts applied variably, as some insurers' policies specified single-event coverage for terrorist acts, leading to bifurcated outcomes across the 23 participating carriers. The protracted disputes, involving over 20 insurers and spanning multiple trials and appeals, resolved primarily through settlements rather than uniform judicial determinations.^[36] A pivotal agreement on May 23, 2007, saw Silverstein settle remaining claims with seven insurers for $2 billion, clearing hurdles for site rebuilding and effectively bridging the gap between single- and double-occurrence positions.^[37] Cumulatively, these resolutions yielded approximately $4.6 billion in insurance proceeds by 2008, short of the maximum sought but sufficient to offset lease obligations and fund reconstruction amid ongoing disputes over business interruption and other coverages.^[38] Separate negligence suits against airlines, while related to 9/11 losses, fell outside the core property insurance framework and concluded later, such as a 2018 settlement.^[39]

Post-9/11 Rebuilding Efforts

Obstacles from Bureaucracy and Stakeholders

The reconstruction of the World Trade Center site faced significant delays due to conflicts between Silverstein Properties and the Port Authority of New York and New Jersey (PANYNJ), the site's landowner, over infrastructure delivery and contractual obligations. Silverstein accused the PANYNJ of failing to prepare sites and provide utilities by agreed deadlines, such as missing a January 1, 2008, target for certain parcels, which incurred daily penalties of $300,000 per delayed day under their development agreement.^[40] These lapses prevented Silverstein from securing financing for office towers, as lenders required cleared sites and basic services like power and water.^[41] In July 2009, Silverstein initiated arbitration proceedings against the PANYNJ, alleging default on multiple fronts including transit hub construction and site excavation, which further stalled projects like 3 World Trade Center where building halted at seven stories after starting in 2010.^[42]^[43] Layered bureaucratic oversight through entities like the Lower Manhattan Development Corporation (LMDC), established in 2001 by Governor George Pataki and Mayor Rudy Giuliani to coordinate federal aid and planning, compounded these issues by introducing competing priorities and protracted design reviews. The LMDC's involvement in vision competitions and urban renewal plans often prioritized symbolic elements over commercial viability, leading to revised master plans that disrupted Silverstein's timelines; for instance, construction of One World Trade Center was deferred until 2006 amid such disputes.^[44] Political interventions exacerbated delays, as Pataki's administration pushed for height increases and design alterations to enhance legacy appeal, while Mayor Michael Bloomberg advocated for mixed-use adjustments, resulting in ongoing renegotiations that Silverstein described as battles against governmental inefficiency.^[45]^[46] Stakeholder pressures from victims' families and advocacy groups added further hurdles, as groups like the World Trade Center United Family Committee insisted on prioritizing the memorial's design and footprint over office development, delaying site allocation and approvals. This emphasis on remembrance led to reallocations of land for the 9/11 Memorial, which opened in 2011, but slowed commercial towers amid debates over symbolism versus economic recovery.^[47]^[48] Overall, these bureaucratic and stakeholder frictions, intertwined with post-9/11 security mandates and environmental reviews, extended planning phases by years, contrasting with the faster rebuild of 7 World Trade Center in 2006, which faced fewer governmental entanglements.^[49]^[50]

Construction of Key Towers (2006–2018)

The construction of 7 World Trade Center marked the initial milestone in Silverstein Properties' rebuilding efforts at the World Trade Center site during this period, with the 52-story tower opening on May 23, 2006, as the first commercial skyscraper completed post-9/11.^[51] Spanning 1.7 million square feet of office space, the building incorporated enhanced safety features including reinforced concrete cores, automatic sprinkler systems, and separate utility corridors to mitigate fire risks observed in the original structure's collapse.^[52] Designed by David Childs of Skidmore, Owings & Merrill, it achieved LEED Gold certification and quickly attracted tenants such as Moody's Investors Service, underscoring its role in revitalizing Lower Manhattan's commercial viability.^[53] Silverstein Properties advanced construction on 4 World Trade Center, a 72-story tower at 150 Greenwich Street, with groundwork commencing in January 2008 following site excavation by the Port Authority of New York and New Jersey.^[54] The 977-foot structure, designed by Fumihiko Maki & Associates, provided 2.3 million square feet of office space across 56 floors, emphasizing natural light through floor-to-ceiling glass facades and sustainable elements like energy-efficient HVAC systems.^[55] It officially opened to tenants on November 13, 2013, leasing to occupants including the New York City Police Department headquarters and major financial firms, which helped stabilize occupancy rates amid broader site delays.^[56] For 3 World Trade Center at 175 Greenwich Street, Silverstein Properties unveiled the conceptual design in September 2006 by Rogers Stirk Harbour + Partners, initiating foundation work in July 2010 after securing necessary approvals and financing.^[57] The 80-story, 1,079-foot tower, featuring a terraced form for improved daylight penetration and resilience against blast forces, reached steel topping-out in June 2016 with participation from over 500 union workers.^[58] Construction concluded with its opening in June 2018, delivering 2.7 million square feet of premium office space that secured anchor tenants like GroupM, reflecting Silverstein's strategy to prioritize high-quality, market-driven developments despite phased timelines influenced by leasing thresholds.^[59]

Completion of One World Trade Center and Site Integration

One World Trade Center reached its structural topping-out milestone on May 10, 2013, when the final section of its 408-foot spire was installed, achieving a symbolic height of 1,776 feet in tribute to the year of American independence.^[60] Construction had commenced in April 2006 following years of planning and disputes, with the building designed by David Childs of Skidmore, Owings & Merrill under the oversight of the Port Authority of New York and New Jersey (PANYNJ), which led the project as the primary owner.^[61] Silverstein Properties, as the site's commercial leaseholder, played a pivotal role in advocating for the tower's development amid bureaucratic delays, including legal actions to compel PANYNJ to proceed with construction to fulfill lease obligations for office space.^[45] The tower officially opened to tenants on November 3, 2014, featuring 3.1 million square feet of Class A office space, advanced security measures, and a concrete core for enhanced resilience against impacts.^[60] Site integration encompassed the reconfiguration of the 16-acre World Trade Center campus to blend commemorative, commercial, and infrastructural elements, with Silverstein Properties responsible for developing Towers 2, 3, 4, and 7 to complement PANYNJ-led components like the National September 11 Memorial & Museum (opened May 2014) and the Santiago Calatrava-designed Transportation Hub (opened March 2016).^[54] Silverstein's 4 World Trade Center, a 72-story structure with 2.3 million square feet of office space, achieved substantial completion in 2013 and integrated via a shared retail podium and concourse connecting to the memorial plaza and subway lines, facilitating pedestrian flow across the site.^[54] This podium level, spanning multiple towers, incorporated energy-efficient systems and public amenities, aligning with the master plan's emphasis on resilience and connectivity while adhering to heightened post-9/11 building codes for blast resistance and emergency egress.^[62] By 2018, Silverstein's completion of 3 World Trade Center further solidified site cohesion, adding 2.8 million square feet of leasable space with direct links to the transportation hub and elevated walkways to 1 World Trade Center, enhancing the campus's functionality as a mixed-use hub with over 13 million square feet of combined office, retail, and cultural space.^[59] These integrations addressed early planning challenges, such as coordinating subsurface utilities and security perimeters, through collaborative engineering that prioritized causal durability—evident in features like fortified foundations and redundant power systems—while minimizing disruptions to Lower Manhattan's economy.^[5] The phased rollout ensured the site's revival as a resilient urban center, though full occupancy and ancillary developments like 2 and 5 World Trade Center remained contingent on market demand.^[62]

Other Significant Projects

New York City Portfolio Beyond WTC

Silverstein Properties holds a portfolio of prominent office and mixed-use properties in Manhattan's Financial District and Tribeca, emphasizing renovations of historic structures and new residential conversions. The Equitable Building at 120 Broadway, acquired in 1980, encompasses 1.9 million square feet of office space across 38 stories and served as the world's largest office building upon its 1915 completion before undergoing a $50 million renovation by Silverstein in 2019 that updated mechanical systems, added modern amenities, and preserved its Beaux-Arts facade.^[63]^[64] At 120 Wall Street, a 34-story Art Deco tower completed in 1931, Silverstein Properties implemented extensive capital improvements including lobby enhancements, rooftop upgrades, and sustainability features, earning LEED Gold certification for its 651,981 square feet of leasable space; the building became New York's first designated "association center" in 1992 under Silverstein's ownership, facilitating nonprofit relocations with tax incentives.^[65]^[66]^[67] In Midtown, Silverstein co-owned Americas Tower at 1177 Avenue of the Americas, a 48-story granite-clad office building completed in 1992 with approximately 1.1 million square feet; acquired jointly with CalPERS in 2007 for over $1 billion, it featured recent leases such as Starr Insurance's two-floor expansion in 2025 before Silverstein and CalSTRS sold the property in September 2025 to Norges Bank Investment Management and Beacon Capital Partners for $571 million amid market pressures on office assets.^[68]^[69]^[70] Silverstein expanded into luxury residential developments with 30 Park Place in Tribeca, an 82-story tower integrating a Four Seasons Hotel and private residences; construction commenced in December 2013, reaching 926 feet to become downtown Manhattan's tallest residential building upon topping out, with 193 condominium units offering river views and hotel services, many sold by 2016 completion.^[8]^[71] More recently, Silverstein partnered with Metro Loft Management to acquire 55 Broad Street in 2021 for $172.5 million, converting the 30-story, 410,000-square-foot office tower into 571 residential apartments by 2024 through full-floor gut renovations emphasizing luxury finishes and FiDi amenities; the partners listed the stabilized multifamily asset for sale in September 2025 seeking over $500 million.^[72]^[73]^[74]

Developments Outside New York

Silverstein Properties developed the Four Seasons Resort Orlando at Walt Disney World Resort, a 444-room luxury hotel in Lake Buena Vista, Florida, which opened on August 19, 2014.^[75]^[76] The project, constructed in partnership with Four Seasons Hotels and Resorts and Dune Real Estate Partners, featured an 18-hole championship golf course, five pools including an adults-only option, a 13,000-square-foot spa, tennis courts, and extensive meeting spaces, positioning it as one of the largest Four Seasons resorts globally at the time.^[77]^[78] The resort was sold to Host Hotels & Resorts in May 2021 for $610 million in cash.^[79] In recent years, Silverstein Properties expanded into the Pacific Northwest, acquiring full ownership of the $1 billion Avenue Bellevue mixed-use development in Bellevue, Washington, announced on June 18, 2025.^[80]^[81] Located at 10300 Northeast 8th Street and comprising two luxury condominium towers—The Residences (mid-rise) and The Estates (high-rise)—the project offers high-end homes starting at approximately $955,000, with amenities tailored to affluent buyers in proximity to tech hubs like Microsoft.^[82]^[83] Sales relaunched in March 2025 following prior delays, reflecting confidence in Bellevue's economic growth amid Seattle's challenges.^[84]^[85] The firm also owns a development site at 801 Blanchard Street in Seattle's South Lake Union neighborhood, adjacent to Amazon's headquarters, signaling potential future projects in the region but with no construction announced as of October 2025.^[81] These ventures represent Silverstein Properties' limited but strategic forays beyond New York, emphasizing luxury hospitality and residential properties in high-growth markets.

Recent Business Activities (2019–Present)

Acquisitions and Urban Revitalization

In early 2019, Silverstein Properties partnered with Cantor Fitzgerald to launch a qualified opportunity zone investment platform aimed at acquiring, developing, redeveloping, and managing institutional-grade properties in economically distressed urban areas designated as opportunity zones.^[86] This initiative targeted multifamily, mixed-use, retail, and other asset classes to foster revitalization through tax-incentivized capital deployment, with the portfolio eventually encompassing eleven projects valued at over $2.2 billion across multiple states.^[87] By March 2025, the partnership had raised approximately $1.1 billion across five closed funds, including CSOZ Trust II with over $470 million in equity for four multifamily and mixed-use developments spanning 1,932 units and 1.5 million square feet.^[88] A key example of this strategy's application in New York City involved the December 2021 acquisition of 116 John Street, a 35-story, 416-unit luxury residential tower in the Financial District, purchased for $247.5 million from Metro Loft Management.^[89] Originally an office building converted to apartments in 2013, the property marked Silverstein's first residential purchase in the city, with plans for a capital improvement program to renovate units and upgrade common areas like the fitness center, lounge, and roof deck, enhancing livability in a historically commercial district undergoing residential transformation.^[7] This move supported broader Financial District revitalization by increasing housing stock and amenities in an area rebounding from post-2008 office vacancies. In July 2024, Silverstein acquired the rental units, retail space, and 50 unsold condominiums at the Brooklyn Tower—a 1,066-foot supertall at 9 DeKalb Avenue in Downtown Brooklyn—for $672 million from JDS Development Group.^[90] The deal transferred full operational control to Silverstein, enabling the resumption of sales and leasing for the stalled mixed-use project, which includes 550 rentals and ground-level retail, thereby stabilizing a landmark development that bolsters urban density, transit-oriented growth, and economic activity in a rapidly evolving neighborhood.^[91] By June 2025, Silverstein launched listings for the remaining condos, positioning the tower as a catalyst for Brooklyn's skyline and vitality.^[92] These efforts reflect Silverstein's focus on opportunistic acquisitions that address urban challenges, such as underutilized assets and financing hurdles, through targeted upgrades and strategic repositioning to drive long-term value and community integration.^[93]

Failed Bids and Strategic Shifts

In May 2025, Silverstein Properties partnered with Rush Street Gaming and Greenwood Gaming & Entertainment to submit a bid for one of New York's three downstate casino licenses, proposing the $7 billion Avenir resort on a 5.1-acre site adjacent to the Javits Center in Hell's Kitchen, Manhattan.^[94] ^[95] The project envisioned a 1,000-room hotel, a casino floor with 3,400 slots and 170 table games operated by Rush Street, convention space, and retail, aiming to leverage the site's proximity to Midtown West's growing convention district.^[96] ^[97] The bid advanced through preliminary reviews but encountered significant community opposition over concerns including increased traffic congestion, gambling addiction risks, and disruption to residential neighborhoods.^[98] ^[99] On September 17, 2025, the project's Community Advisory Committee (CAC)—comprising local elected officials and stakeholders—unanimously rejected it in a brief vote, effectively ending the proposal and eliminating Manhattan from the downstate casino competition alongside other borough bids.^[100] ^[101] This marked Silverstein's first major foray into gaming development, diverging from its traditional focus on commercial office towers and mixed-use projects.^[93] The rejection prompted Silverstein to reassess development strategies for the Hell's Kitchen site, with executives indicating a pivot toward non-gaming alternatives such as office expansions, residential components, or enhanced convention facilities to capitalize on the area's infrastructure without relying on casino revenues.^[96] ^[102] This shift aligns with broader portfolio adjustments amid post-pandemic market pressures, including selective divestitures like the September 2025 sale of 1177 Avenue of the Americas at a 40% loss to prioritize higher-yield, adaptive-reuse opportunities in urban cores.^[103] Such moves reflect a strategic emphasis on resilience through diversified, sustainability-focused developments rather than speculative ventures tied to regulatory approvals.^[104]

Controversies and Criticisms

Disputes Over Insurance Payouts and Profiteering Claims

Silverstein Properties, through a consortium led by Larry Silverstein, acquired a 99-year lease on the World Trade Center complex from the Port Authority of New York and New Jersey on July 24, 2001, for approximately $3.2 billion, which included obligations to secure all-risk property insurance coverage of at least $3.55 billion per occurrence, encompassing terrorism as a standard peril.^[105] Following the September 11, 2001, attacks, which destroyed the complex, Silverstein argued that the two hijacked aircraft striking the Twin Towers constituted separate "occurrences" under the policies, entitling lessees to roughly $7.1 billion in payouts, while insurers contended the assaults formed a single coordinated event.^[105] ^[106] Litigation ensued in federal courts, with mixed rulings: in 2002, a judge ruled for some insurers that the attacks were one occurrence, but subsequent decisions, including a 2004 appeals court affirmation, granted double recovery against certain carriers like Travelers and Swiss Re for the North Tower policies.^[106] ^[105] Silverstein pursued additional claims, including a 2008 lawsuit seeking up to $12.3 billion from remaining insurers, arguing policies allowed for multiple triggers, though courts largely rejected expansive interpretations.^[38] By 2013, efforts to recover further from airlines involved in the attacks yielded limited results, with a district court ruling barring substantial claims after insurance recoveries.^[107] The disputes culminated in a 2007 global settlement where insurers agreed to pay Silverstein-affiliated entities approximately $4.55 billion, exceeding the single-occurrence cap by about one-third but falling short of the doubled amount sought.^[105] ^[38] A final related suit against QBE Insurance in 2018, claiming $14 million from a $1.2 billion subrogation settlement between insurers and airlines, was dismissed by a U.S. District Court, which found no policy entitlement to the funds beyond prior $4.1 billion settlements.^[108] Allegations of profiteering emerged primarily from online commentators and conspiracy theorists, asserting Silverstein anticipated the attacks due to the timing of the lease and terrorism coverage inclusion, or that payouts represented windfall gains exceeding losses.^[105] These claims overlook that terrorism coverage was contractually mandated by lenders and routine for high-value properties pre-9/11, with no evidence of foreknowledge; moreover, net financial impact was negative, as reconstruction costs for Silverstein's towers exceeded $9 billion against the $4.55 billion recovery, compounded by $10 million monthly lease payments to the Port Authority and lost revenues during delays.^[105] ^[109] The overall site redevelopment surpassed $20 billion, with insurance proceeds directed toward rebuilding rather than personal enrichment, amid ongoing disputes with government entities over funding and design.^[109]

Conflicts with Government Entities and Public Perception

Silverstein Properties has engaged in prolonged disputes with the Port Authority of New York and New Jersey, the owner of the World Trade Center site, primarily over development rights and timelines following the September 11, 2001 attacks. In March 2006, New York Governor George Pataki publicly accused Larry Silverstein of betraying the rebuilding effort at Ground Zero due to demands perceived as greedy, which derailed negotiations and highlighted tensions over lease obligations and project control.^[110] These conflicts stemmed from Silverstein's insistence on fulfilling his 99-year lease agreement signed in July 2001, which entitled him to redevelop towers 2, 3, and 4, against the Port Authority's push for greater oversight and alternative site uses.^[41] Further escalation occurred in December 2008 when the Port Authority notified Silverstein Properties that it could not meet a December 31 deadline for final site turnover, prompting arbitration over construction delays and financial responsibilities.^[111] By July 2009, Silverstein publicly blamed the Port Authority for stalling progress on three planned towers, attributing delays to bureaucratic intransigence rather than private sector shortcomings.^[41] More recently, in accounts from Larry Silverstein's 2024 memoir, the Port Authority reportedly issued "tough guy threats" during negotiations for Four World Trade Center, resembling coercive tactics to force concessions on development terms.^[112] Beyond the Port Authority, Silverstein Properties faced federal scrutiny in a 2017 civil rights lawsuit filed by the U.S. Attorney's Office for the Southern District of New York, alleging violations of the Fair Housing Act and Americans with Disabilities Act at projects including One River Place and Silver Towers due to inadequate accessibility features.^[113] The company settled without admitting liability, agreeing to pay up to $960,000 in compensation and a $50,000 civil penalty, alongside remediation measures.^[114] Public perception of Silverstein Properties has been shaped by these governmental frictions, often portraying the firm as a combative private entity clashing with public interests amid the symbolic weight of Ground Zero's reconstruction. Media coverage, including state officials' rebukes like Pataki's, amplified views of Silverstein as obstructive, contributing to widespread frustration over the site's protracted redevelopment, which spanned over a decade with visible delays until towers like One World Trade Center opened in 2014.^[110] ^[41] However, such narratives overlook causal factors like post-attack security mandates, economic downturns, and inter-agency coordination challenges, with some accounts crediting Silverstein's persistence for eventual completion despite adversarial public-private dynamics. Fringe online discussions have fueled unfounded conspiracy theories linking the firm's 2001 lease timing to the attacks, but these lack empirical support and stem from selective interpretation rather than verifiable evidence.^[112] Overall, while mainstream reporting from outlets like the New York Post and Times has occasionally sensationalized conflicts—potentially reflecting institutional biases toward critiquing private developers—the firm's role in delivering commercial viability to the site has garnered industry recognition, tempering purely negative views.^[110]^[41]

Leadership and Legacy

Key Executives and Family Involvement

Silverstein Properties was founded in 1957 by Larry A. Silverstein, who serves as the company's Chairman and has remained a pivotal figure in its strategic direction, particularly in major developments like the World Trade Center redevelopment following the September 11, 2001 attacks.^[16] As a family-owned enterprise, the firm emphasizes generational continuity, with Larry Silverstein's children holding senior roles that reflect a transition to the next generation of leadership. Lisa Silverstein, daughter of Larry and Klara Silverstein, assumed the role of Chief Executive Officer in October 2023, succeeding longtime CEO Marty Burger as part of the company's shift toward family-led management.^[115] Previously serving as Vice Chairman, Lisa oversees capital allocation, asset management, new initiatives, and overall corporate strategy, drawing on over 25 years of experience within the firm.^[116] Her appointment underscores the family's hands-on involvement in sustaining the company's focus on high-profile urban developments.^[117] Roger A. Silverstein, Larry's son, holds the position of Executive Vice President of Leasing, where he manages tenant relations, commercial leasing operations, and property management for the firm's portfolio, including key assets in the World Trade Center complex.^[4] Roger's role integrates family oversight into day-to-day operations, ensuring alignment with the company's long-term investment and redevelopment goals.^[118] Other key non-family executives include Tal Kerret as President, who collaborates with the Silverstein family on executive decisions, and Dino Fusco as Chief Operating Officer, supporting operational efficiency across developments.^[117] The leadership structure maintains a blend of familial stewardship and professional expertise, with family members comprising the core decision-making team amid ongoing projects in New York City and beyond.^[116]

Recognitions and Industry Impact

Silverstein Properties has garnered significant industry recognitions for its leadership in urban redevelopment and innovative property management. In 2018, Chairman Larry Silverstein received the inaugural Visionary Leadership in Land Use Award from ULI New York, honoring his role in shaping Lower Manhattan's post-9/11 transformation through strategic land use and public-private collaborations.^[119] The same year, the Council on Tall Buildings and Urban Habitat (CTBUH) designated Silverstein a Fellow and bestowed a Lifetime Achievement Award, acknowledging his contributions to supertall building design and resilient urban infrastructure, exemplified by the World Trade Center towers.^[120] Individual properties developed by the firm have also earned accolades for excellence in development and operations. For example, 3 World Trade Center was awarded ULI New York's Excellence in Office Development in recognition of its architectural innovation and economic contributions to the downtown district.^[121] More recently, in October 2025, the firm's 1735 Market Street property in Philadelphia received the Building Owners and Managers Association (BOMA) "Best of BOMA" Award for superior tenant relations, highlighting effective management practices amid competitive urban markets. The company's industry impact extends beyond awards through its influence on real estate standards, particularly in disaster recovery and mixed-use megaprojects. Silverstein Properties' 99-year lease and subsequent $3.2 billion acquisition of the World Trade Center in July 2001—New York City's largest real estate transaction at the time—demonstrated scalable models for government-backed redevelopment, integrating security enhancements, sustainable features, and commercial viability that have spurred over $20 billion in related investments and redefined Lower Manhattan as a global business hub.^[122] ^[123] This approach has informed industry practices in risk mitigation and stakeholder coordination, with Silverstein's emphasis on long-term value creation influencing subsequent urban renewal efforts nationwide.^[124] Additionally, Silverstein's establishment of the NYU Schack Institute of Real Estate has advanced real estate education, training professionals in finance, development, and policy since the 1980s.^[125]

References

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Values - Silverstein Properties
Silverstein Properties was founded in 1957 by Larry A. Silverstein, a visionary real estate entrepreneur from a humble upbringing.
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Silverstein Properties
Silverstein Properties is a full-service real estate development, investment, and management firm based in New York City.Contact usPortfolio PropertiesLendingESG StatementValues
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Larry Silverstein - Forbes
Larry Silverstein is the chairman and founder of Silverstein Properties, a New York-based real estate development firm. Silverstein Partners owns nearly 16 ...
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Silverstein | Real estate families of New York
Jan 18, 2024 · Silverstein Properties owns and operates 16 million square feet of commercial and residential space around the country.
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The man behind the rebuilding of 9/11's Ground Zero - Reuters
Sep 1, 2021 · Developer Larry Silverstein signed a $3.2 billion 99-year lease on New York's World Trade Center six weeks before the Sept. 11 attacks in 2001.
[6]
Meet The Billionaire Developer Who Rebuilt The World Trade ...
Sep 10, 2016 · In July 2001, Silverstein and several minority investors won the contract for a 99-year lease on the Twin Towers for $3.2 billion (including ...
[7]
Silverstein Properties Acquires 116 John Street
Silverstein Properties developed and opened the Four Seasons Downtown at 30 Park Place in 2016; and developed, owns and manages two residential rental buildings ...
[8]
Four Seasons Hotel Downtown New York | Silverstein Properties
In December 2013, Silverstein Properties began construction on a Four Seasons hotel, restaurant and private residences at 30 Park Place in Tribeca.<|separator|>
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United States v. Silverstein Properties, Inc. (S.D.N.Y.)
Jan 5, 2017 · The complaint, which was filed on January 5, 2017, alleged the designers and developers of One River Place and Silver Towers in New York City violated the Fair ...<|separator|>
[10]
Opening Acts: January 18, 2017 | Fair Housing Justice Center
Jan 18, 2017 · Silverstein Properties also agreed to inspect, and where necessary, retrofit a third Manhattan apartment building, One Freedom Tower. The three ...Missing: outcome | Show results with:outcome
[11]
Innovation - Silverstein Properties
Silverstein Properties is a pioneer, driving innovation across all aspects of real estate including hospitality, proptech, and technology ventures.
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Lending - Silverstein Properties
Leveraging over 50 years of real estate experience, we understand the complexities of development, efficiently navigating the capital stack to better position ...
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Silverstein Properties, Inc. is a family-owned corporation controlled by Manhattan real estate developer Larry A. Silverstein. Its portfolio in 2000 included ...<|control11|><|separator|>
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The Long Game - DOWNTOWN MAGAZINE
Sep 10, 2025 · Silverstein Properties COO Dino Fusco—a longtime downtown resident ... real estate firm Larry founded with his father, Harry, in 1957.
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About us ; Website: http://www.silversteinproperties.com. External link for Silverstein Properties ; Industry: Real Estate ; Company size: 201-500 employees.
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The Founder's Daughter Becomes CEO of Silverstein Properties
Oct 27, 2023 · Taking over as the new CEO will be Lisa Silverstein, the daughter of Chairman and founder Larry Silverstein.
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Trustees - NYU
Lisa Silverstein is Vice Chairman and CEO of Silverstein Properties. Lisa oversees the firm's capital, existing assets, new initiatives, and corporate strategy.
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Larry Silverstein: The Man Who Rebuilt the World Trade Center
Oct 1, 2024 · His first deal was sink-or-swim: In the 1950s, he raised money from friends and bought, fixed, and leased a crumbling loft building on East 23 ...Missing: projects 1960s
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New York Developers Feel a Chill
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Shaping New York's Skyline: Larry Silverstein on 40 Years of Hell's ...
Nov 9, 2024 · Initially, the plot was zoned for industrial use, and Silverstein had to fight for flexible zoning that would allow residential or mixed-use ...
[21]
PORT AUTHORITY TO LEASE WORLD TRADE CENTER TO ...
Silverstein Properties, Inc., and Westfield America, Inc. have agreed to a net lease transaction for a term of 99 years, worth an estimated $3.2 billion on a ...Missing: details | Show results with:details
[22]
Deal Is Signed To Take Over Trade Center - The New York Times
Apr 27, 2001 · Developer Larry A Silverstein and shopping center owner Westfield America Inc sign 99-year lease to take control of World Trade Center in deal ...Missing: details | Show results with:details
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LARRY BAGS WTC ; SILVERSTEIN $3.21B BID WINS TOWERS
Apr 27, 2001 · Silverstein and his partners signed over a $100 million non-refundable deposit to the PA in the form of a letter of credit, and will turn over ...Missing: acquisition | Show results with:acquisition
[24]
CNN.com - WTC leased to Silverstein, Westfield - September 12, 2001
Sep 12, 2001 · The leases were worth an estimated $3.2 billion on a present value basis. They covered 10.6 million square feet of office space in the now- ...
[25]
[PDF] port authority of new york and new jersey
Aug 1, 2001 · As you may already know, as of July 24, 2001, companies affiliated with Silverstein. Properties, Inc. have acquired from the Port Authority of ...
[26]
The Weekend Interview with Larry Silverstein: Rebuilding Ground Zero
May 12, 2007 · Larry Silverstein began spending every morning at the World Trade Center shortly after he inked a 99-year deal to operate the complex in July 2001.
[27]
[PDF] THE 9/11 COMMISSION REPORT - GovInfo
... 2001 285. 9.3 Emergency Response at the Pentagon 311. 9.4 Analysis 315 vi. Page 7. 10. WARTIME 325. 10.1 Immediate Responses at Home 326. 10.2 Planning for War ...
[28]
No, the Owner of WTC Building 7 Didn't 'Admit' It Was Demolished ...
Dec 2, 2021 · Silverstein later stated that his comments had been mischaracterized and clarified that what he meant by "pull it" was the crew of firefighters ...Missing: Properties context
[29]
9/11 conspiracy theories: How they've evolved - BBC News
Aug 29, 2011 · Initially the focus was on the phrase "pull it" used by the owner, Larry Silverstein, in a TV interview. But in fact he was talking about ...
[30]
[PDF] Final Report on the Collapse of World Trade Center Building 7
Aug 21, 2008 · This report describes how the fires that followed the impact of debris from the collapse of. WTC 1 (the north tower) led to the collapse of WTC ...
[31]
Silverstein Escapes Contempt Charge in Twin Towers Trial
Testimony so far establishes a picture of incomplete insurance arrangements on the property, though the insurers involved did bind to coverage by July 19, 2001 ...Missing: details | Show results with:details
[32]
Verdict in 9/11 insurance battle - Apr 29, 2004 - CNN
Apr 30, 2004 · Silverstein contended that the two jetliners crashing into the twin towers about 15 minutes apart should be considered two separate events, ...
[33]
[PDF] INSURANCE COVERAGE OBSERVER - Cozen O'Connor
In. July 2001, just two months before 9/11, a new owner, Larry Silverstein, had leased Towers 1, 2, 4 & 5 of the WTC complex. Silverstein was working with an ...
[34]
Developer Loses Ruling in Trade Center Insurance Dispute
Sep 27, 2003 · Larry A. Silverstein, the developer who controls the commercial leases at the World Trade Center site, suffered a major setback yesterday.
[35]
9/11 ruled as two events for insurance purposes - NBC News
Dec 6, 2004 · The verdict in U.S. District Court in Manhattan means the site's leaseholder, Larry Silverstein, could get twice as much money from his policies ...
[36]
Legal Battle Over World Trade Center Property Damage and ...
Jul 9, 2025 · The September 11 Litigation involved a high-profile property damage lawsuit filed by World Trade Center Properties LLC and affiliates against several airlines ...
[37]
State Achieves $2 Billion Settlement of Outstanding World Trade ...
May 23, 2007 · Governor Eliot Spitzer and State Insurance Superintendent Eric R. Dinallo announced today that Silverstein Properties and seven insurance ...<|separator|>
[38]
Developer Sues to Win $12.3 Billion in 9/11 Attack
Mar 27, 2008 · Silverstein had been more than compensated by the nearly $4.6 billion insurance settlement, reached after almost six years of litigation.Missing: post | Show results with:post
[39]
Airlines Settle WTC Developer's 9/11 Claims
Jan 18, 2018 · World Trade Center developer Larry Silverstein has won a long-fought legal battle in a settlement with airlines and airport security companies.
[40]
Port Authority To Owe Silverstein More Money for Delays | Observer
The Port Authority will owe Mr. Silverstein $300,000 a day for each day that the site is late, the same penalty it faced when it missed a Jan. 1 deadline for ...
[41]
Silverstein Blames Port Authority for Trade Center Delays
Jul 6, 2009 · Mr. Silverstein said the authority's delays and failures over the past seven years prevented him from obtaining financing for the three office ...Missing: stakeholders reconstruction
[42]
World Trade Center arbitration initiated - Practical Law
Larry Silverstein, the private developer in charge of rebuilding the World Trade Center (WTC), has initiated arbitration proceedings with the Port Authority of ...Missing: reconstruction | Show results with:reconstruction
[43]
After years of delays, 80-story 3 World Trade Center to open - abc7NY
Jun 10, 2018 · After arbitration in the dispute between the developer and the property owner, construction started in 2010 but was halted at seven stories due ...
[44]
Larry Silverstein on His Memoir and Rebuilding the WTC - Curbed
Sep 11, 2024 · In June 2001, he signed a 99-year lease on the World Trade Center, which was owned by the Port Authority. ... However you judge Silverstein's ...<|separator|>
[45]
Inside the battle to rebuild the World Trade Center after 9/11
Sep 9, 2024 · Silverstein built two of the fabled complex's great towers and got One World Trade Center off the ground. He also put up beautiful new Seven ...
[46]
Developer Fought Bureaucracy to Rebuild Ground Zero, and Won
Sep 24, 2024 · ... rebuilding and to control the political swag. To achieve his rebuilding dream, Silverstein had to battle with the LMDC, the Pataki ...
[47]
America Rebuilds II: Return to Ground Zero . The Challenges Ahead
Aug 28, 2006 · The World Trade Center complex included the twin towers, a hotel and four other office buildings. The towers, the tallest buildings in the ...
[48]
15 Years After 9/11, Larry Silverstein Finally Recreated WTC
Sep 12, 2016 · Within two weeks of 9/11, Silverstein Properties had its first organizational meeting with architects to rebuild 7 WTC. (It would open in May ...
[49]
[PDF] reports - Independent Budget Office
While delays are not unusual for large-scale construction projects, these projects faced additional hurdles given the political challenges, security concerns, ...<|separator|>
[50]
Lower Manhattan's Next Challenge - City Journal
Seven World Trade Center, which Silverstein rebuilt quickly without government interference, is nearly three-quarters full. Goldman Sachs is constructing a ...
[51]
Timeline - World Trade Center Rebuilding - The Skyscraper Museum
May 30, 2006 - Developer Larry Silverstein opens the 57-story 7 World Trade Center, the first skyscraper to be rebuilt after 9/11. Photographer Steve Friedman, ...
[52]
7 World Trade Center - Silverstein Properties
Nestled between Tribeca and the WTC campus, 7 WTC features floor-to-ceiling windows, soaring ceiling heights, and 40,000-square-foot floor plates with ...
[53]
7 World Trade Center
Overview. 7 World Trade Center was the first office tower to be rebuilt at the World Trade Center in 2006.
[54]
4 World Trade Center Opens - Silverstein Properties
All of the retail will open in tandem with the World Trade Center Transit Hub in late 2014 or early 2015. "This is a historic day for New York City and a major ...Missing: initial | Show results with:initial<|separator|>
[55]
4 World Trade Center
Opened in November 2013, 4 World Trade Center is the third tallest building on the World Trade Center campus. Located at 150 Greenwich Street, ...
[56]
4 World Trade Center Opens in NYC - NBC 4 New York
Nov 13, 2013 · The site's marquee skyscraper, One World Trade, is expected to officially open sometime in 2014. Another office tower, at 7 World Trade Center, ...
[57]
WTC Developer Larry Silverstein Celebrates Topping Out of 3 World ...
Jun 23, 2016 · The conceptual design for 3 World Trade Center was unveiled by Silverstein Properties in September 2006. In July 2010, foundation work began, ...Missing: timeline | Show results with:timeline
[58]
History of the World Trade Center | Legacy & Milestones
SNY signs a lease at 4WTC. Silverstein Properties announced today that it has signed a 17-year lease with SNY for 83,000 square feet of office and studio space ...Missing: facts | Show results with:facts
[59]
3 World Trade Center - Silverstein Properties
In June 2018, developer Silverstein Properties completed financing and construction of 3 World Trade Center at 175 Greenwich Street. In August 2019, the ...
[60]
One World Trade Center officially opens in New York City, on the ...
Jul 24, 2019 · One World Trade Center officially opens in Manhattan on November 3, 2014. The new tower, along with the rest of the World Trade Center complex, replaced the ...
[61]
The History Behind 1 World Trade Center, 2002 to 2014 - ThoughtCo
May 5, 2025 · The completed 1 World Trade Center opened in 2014 and features a spire that achieves a symbolic height. On September 11, 2001, the skyline of ...
[62]
Larry Silverstein looks back, and ahead, on journey to rebuild ...
Sep 10, 2024 · Silverstein Properties also is developing 5 World Trade Center with partners including Brookfield Properties as a mixed-use development that ...
[63]
120 Broadway - Silverstein Properties
Silverstein Properties has completed a series of major capital improvements that have updated and amenitized 120 Broadway from ground floor to rooftop, ...Missing: excluding | Show results with:excluding
[64]
Silverstein Properties Completes $50 Million Renovation of the ...
Jul 21, 2019 · Silverstein Properties completed a $50 million renovation of the Equitable Building, aka 120 Broadway, a historic office building in the ...
[65]
120 Wall Street - Silverstein Properties
120 Wall Street is an Art Deco building with views, near dining and transit, LEED Gold certified, with a one-story marble lobby, and 35 floors.
[66]
120 Wall Street, New York, NY 10005 | CommercialCafe.com
120 Wall Street is a 651,981-square-foot Class A office building with LEED Gold certification, ensuring an environmentally conscious design.
[67]
In 1992, Silverstein Properties' 120 Wall Street became the first New ...
Feb 12, 2021 · More than a dozen new condo projects counting 2,000+ units and billions in construction loans are rising, backed by titans like Steve Ross ...<|control11|><|separator|>
[68]
Silverstein Properties and CalSTRS Purchase 1177 Sixth Ave
Construction on the granite building - also known as the Americas Tower - started in 1989 and was completed in 1992. WTC. December 20, 2007. Email Facebook ...
[69]
Silverstein, CalSTRS to sell Americas Tower at steep discount - New ...
Sep 2, 2025 · Americas Tower at 1177 Avenue of the Americas will sell in a deal that values the building at $571 million. Silverstein Properties. Kevin Smith.
[70]
New Lease Secured for 1177 Avenue of The Americas In Midtown ...
May 22, 2025 · Silverstein Properties has announced a new lease agreement with Starr Insurance at 1177 Avenue of the Americas in Midtown, Manhattan.
[71]
Inside Downtown's Tallest Residential Tower, 30 Park Place
Larry Silverstein's limestone pillar 30 Park Place topped out today at 926 feet, officially making it the tallest residential tower Downtown.
[72]
Silverstein Properties and Metro Loft Mgmt. to convert 410000 s/f ...
Silverstein Properties and Metro Loft Management have commenced the acquisition of 55 Broad St., a 30-story office building in New York's Financial District ...
[73]
Silverstein, MetroLoft Put 55 Broad Street on the Market, Seeking ...
Sep 18, 2025 · Silverstein Properties and Metro Loft Management have put their multifamily building at 55 Broad Street up for sale.
[74]
New Renderings Revealed 55 Broad Street's Residential ...
Sep 27, 2024 · New renderings have been revealed for the office-to-residential conversion for 55 Broad Street, a 36-story tower in the Financial District.
[75]
Four Seasons Resort Orlando is Now Open | Silverstein Properties
Next to a pristine lake in the Florida woodlands, the new Four Seasons Resort Orlando at Walt Disney World Resort combines signature Four Seasons service, ...
[76]
https://www.fourseasons.com/orlando/
[77]
Goodwin Advises Four Seasons on Luxury Walt Disney World Hotel
Goodwin advised Four Seasons in its joint venture negotiations with both Silverstein Properties and Dune, as well as negotiation of the construction loan. The ...
[78]
EDSA | Four Seasons Resort Orlando at Walt Disney World
In addition, the property includes meeting space, a rooftop restaurant, spa, adult pool, tennis courts, wedding pavilion, multiple outdoor function areas, ...
[79]
Sale of Four Seasons Resort Orlando at Walt Disney World fetches ...
May 6, 2021 · The Four Seasons Resort Orlando at Walt Disney World Resort was sold for a whopping $610 million in cash.
[80]
Silverstein Capital Takes Over Avenue Bellevue
Avenue Bellevue, a $1 billion mixed-use development located at 10300 Northeast 8th Street, has had a change in ownership.Missing: Washington | Show results with:Washington
[81]
NYC's Silverstein Bets on Rising Tech Wealth of Seattle Neighbor ...
Jun 18, 2025 · The billionaire's firm, Silverstein Properties, already owns one development site in Seattle at 801 Blanchard, near Amazon's headquarters in ...
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Avenue Bellevue by Silverstein Properties in Bellevue WA - Zillow
Starting from $955,000.00Avenue offers two state-of-the-art home collections: The Residences and The Estates. Each home has been crafted to provide a sense of comfort and appreciation ...
[83]
Avenue Bellevue - The Estates - Livabl
Avenue Bellevue - The Estates is a new condo community by Silverstein Properties currently under construction at 838 Avenue Square Northeast, Bellevue.
[84]
Sales of Luxury Condos in Avenue Bellevue Restart - 425 Business
Mar 26, 2025 · New York-based Silverstein Properties is restarting the sales of luxury condominiums in its Avenue Bellevue property in downtown Bellevue, ...
[85]
Silverstein Properties Doubles Down On Bellevue As Seattle ...
Jun 18, 2025 · Silverstein Properties has recently taken full ownership of Avenue Bellevue, a luxury mixed-use development featuring two high-end condominium towers and an ...
[86]
Cantor Fitzgerald and Silverstein Properties Announce Joint Venture ...
Cantor and Silverstein launched an opportunity zone business in early 2019 to invest in, develop, redevelop and manage a diversified portfolio of institutional ...
[87]
Cantor Fitzgerald and Silverstein Properties Announce Joint Venture ...
Jul 1, 2024 · Their opportunity zone development portfolio includes eleven projects in various stages of development exceeding $2.2 billion in total estimated ...<|separator|>
[88]
Cantor Fitzgerald and Silverstein Properties Close Opportunity Zone ...
Mar 3, 2025 · Approximately $1.1 billion has been raised for five closed Qualified Opportunity Zone Funds, which includes flagship funds CSOZ Trust I and CSOZ ...
[89]
Silverstein Nabs 116 John Street Residential Tower for $250M
Dec 22, 2021 · Silverstein Properties has picked up the residential tower at 116 John Street for $247.5 million from an affiliate of Metro Loft Management.Missing: date | Show results with:date
[90]
Silverstein takes control over Brooklyn Tower in $672M deal - 6sqft
Jul 2, 2024 · Silverstein Properties acquired ownership of the rental, retail, and unsold condo units at the Brooklyn Tower from JDS Development ...
[91]
Silverstein Properties Secures $672M Deal for Brooklyn Tower's ...
Jul 3, 2024 · Silverstein Properties has acquired the unsold condominium units and the rental and retail portions of the Brooklyn Tower from Michael Stern's JDS Development.Missing: acquisitions | Show results with:acquisitions<|separator|>
[92]
Silverstein Properties Announces Launch of Listings at Brooklyn ...
Jun 3, 2025 · Seamlessly integrating the historic Dime Savings Bank of Brooklyn into its design, the tower features 143 luxury condominiums available for ...<|control11|><|separator|>
[93]
Development | Silverstein Properties
Silverstein Properties has developed luxury hotels from the ground up, including the Four Seasons Downtown in New York City and the Four Seasons Resort Orlando.
[94]
Silverstein Properties Details New York Casino Bid - GGB News
May 19, 2025 · Silverstein Properties has linked up with Rush Street Gaming and Greenwood Gaming and Entertainment on a joint bid to open a new land-based casino in New York.<|separator|>
[95]
Vote now looms for Avenir casino bid in New York - iGaming Business
Sep 9, 2025 · Silverstein Properties' Avenir casino proposal in New York has jumped through years of hoops to get to the point of a local committee vote.
[96]
Failed casino dreams force three Manhattan developers to rethink ...
Sep 26, 2025 · With their Manhattan casino bids rejected, three major developers now face a crucial question: What now? Real estate giants SL Green, ...
[97]
After surprise New York casino rejections, who holds the edge?
Sep 22, 2025 · Silverstein Properties' $7 billion Avenir bid was also in Manhattan, near the Javits Center. Plans called for a New York casino operated by Rush ...
[98]
CASINO BIDS CRAP OUT: Committees vote down Times Square ...
Sep 17, 2025 · Both the Jay-Z-backed Caesars Palace Times Square casino bid and a Hell's Kitchen gaming plan from Silverstein Properties were rejectedMissing: failed | Show results with:failed
[99]
Councilmember Bottcher Votes No on West Side Casino Bids - W42ST
Sep 17, 2025 · It's the end of the road for two West Side casino bids. Councilmember Erik Bottcher cast decisive “no” votes on Tuesday.Missing: shift | Show results with:shift
[100]
Avenir becomes latest New York casino bid rejected by CAC
Sep 17, 2025 · After years of work, the Avenir casino proposal from Silverstein Properties failed after a brief meeting and committee vote Wednesday.
[101]
CACs Reject SL Green, Silverstein Casino Bids - The Real Deal
Sep 18, 2025 · Community Advisory Committees rejected Manhattan casino bids led by SL Green Realty and Silverstein Properties.
[102]
Outsiders Project Future of Failed Manhattan Casino Sites
Sep 29, 2025 · ... casino proposals, and could pivot to office or ... Outsiders Project Future of Failed Manhattan Casino Sites Silverstein Properties ...
[103]
Silverstein, partner shed Midtown office tower at more than 40% loss
Sep 2, 2025 · Silverstein Properties and a partner are parting with a Midtown office building and taking a sizable loss on the deal.
[104]
Silverstein Properties: Mixed-Use, Sustainability, and Tech Innovations
For example, the company partnered with Metro Loft to acquire the office building at 55 Broad Street for residential conversion. Other real ...
[105]
Did a WTC Leaseholder Buy Terrorism Insurance Just Before 9/11?
Sep 13, 2016 · After 9/11, Silverstein took the insurance company to court, claiming he should be paid double because there were 2 attacks. He won, and was ...
[106]
Three Insurers Win Ruling That WTC Disaster Was One Event
Three of the 20 insurers involved in World Trade Center litigation have won their case that the landmark property was destroyed in a single insured occurrence.Missing: outcomes | Show results with:outcomes
[107]
District Court Rules Silverstein Unable to Collect From Airlines for 9 ...
Jul 23, 2013 · Silverstein had previously received approximately $4.9 billion from property insurers in connection with the attacks, however Silverstein was ...<|separator|>
[108]
World Trade Center developer loses final 9/11 lawsuit against insurer
Aug 2, 2018 · World Trade Center Properties sued QBE, arguing that the policy it had bought from the insurer shortly before the attack entitled it to $14 ...
[109]
20 Years And $20 Billion After 9/11, The World Trade Center Is Still ...
Sep 10, 2021 · That's far higher than the $3.2 billion Silverstein paid in June 2001 ($4.9 billion adjusted for inflation today) and the $4.6 billion he ...
[110]
GOV BLASTS WTC 'TRAITOR' – CLAIMS GREED SABOTAGED ...
Mar 16, 2006 · The effort to rebuild Ground Zero was in shambles yesterday as a furious Gov. Pataki charged that developer Larry Silverstein has “betrayed ...
[111]
STATEMENT BY THE PORT AUTHORITY AND SILVERSTEIN ...
Dec 12, 2008 · "The Port Authority also has informed Silverstein Properties that it will not meet its December 31, 2008 deadline for the final site turnover ...
[112]
Port Authority made 'tough guy threats' over World Trade: Book
Sep 10, 2024 · Larry Silverstein recounts how dealing with the Port Authority over his Four World Trade Center (front right) turned into something like a scene in a mob movie.
[113]
Manhattan U.S. Attorney Files Civil Rights Suit And Enters ...
Jan 13, 2017 · Finally, SILVERSTEIN PROPERTIES has agreed to provide up to $960,000 to compensate aggrieved persons and pay a civil penalty of $50,000. The ...
[114]
United States v. Silverstein (S.D.N.Y.) - Department of Justice
Sep 5, 2019 · The complaint, which was filed on January 5, 2017, alleged the designers and developers of One River Place and Silver Towers in New York City violated the Fair ...
[115]
Silverstein Properties' CEO Marty Burger To Step Down - CoStar
Oct 26, 2023 · Lisa Silverstein, left, next to parents Larry and Klara Silverstein, will take over as CEO of the company her father founded in 1957. (Joe ...
[116]
Lisa Silverstein | Women of Influence 2025 | Crain's New York ...
CEO, Silverstein Properties Lisa Silverstein was named CEO of the family firm in 2023. A 25-year-plus veteran of the company, Silverstein is one of a handful ...
[117]
Larry Silverstein, Tal Kerret and Lisa ... - Commercial Observer
May 9, 2025 · Larry Silverstein, Lisa Silverstein and Tal Kerret, Chairman; vice chair and CEO; president at Silverstein Properties, Last year's rank: 29.
[118]
Board Members | Join Our Leadership Movement
Roger Silverstein, Board Co-Chair & Treasurer. Roger Silverstein is an Executive Vice President of Silverstein Properties responsible for Tenant relations.
[119]
ULI New York to Present Larry A. Silverstein With First-Ever ...
Nov 8, 2018 · Silverstein, Chairman of Silverstein Properties, Inc., will be the first recipient of the organization's Visionary Leadership in Land Use Award, ...
[120]
Larry Silverstein – CTBUH
CTBUH has named its 2018 Fellows and two Lifetime Achievement Award recipients: Larry Silverstein of Silverstein Properties and Aine Brazil of Thornton ...
[121]
[PDF] ULI NY names winners at Annual Awards for Excellence in ... - NYREJ
Excellence in Office Development: 3 World Trade Center (Silverstein Properties.) • Excellence in Industrial Development: Building 77, Brooklyn (Brooklyn Navy ...
[122]
LEADERS Interview with Larry A. Silverstein, President and Chief ...
Larry Silverstein completed the largest real estate transaction in New York history when he signed a 99-year lease on the 10.6 million-square-foot World Trade ...
[123]
ULI NY to Honor Larry Silverstein with Leadership Award - Globest
Mar 26, 2019 · It recognizes Silverstein's impact in the industry and region and his commitment to ULI's mission and values.
[124]
The Titans of Real Estate - Brooklyn Law School
Silverstein '55, chairman of Silverstein Properties, a real estate development firm now worth $10 billion. “The Law School taught me how to think like a lawyer.Missing: achievements | Show results with:achievements
[125]
[PDF] 2012 Industry Leader Award - Cornell eCommons
Silverstein continues to make contributions to the world of real estate higher education. He is the founder and chairman emeritus of the New York. University's ...