Larry A. Silverstein

Latest News

Larry A. Silverstein (born May 30, 1931) is an American billionaire, and real estate investor and developer in New York City. Silverstein was born in Brooklyn, and became involved in real estate, together with his father, establishing Silverstein Properties. Silverstein separated from his partner, Bernard Mendik, in 1977, and bought a number of large office buildings in Midtown and Lower Manhattan in the late 1970s. In 1980, Silverstein won a bid from the Port Authority of New York and New Jersey to construct 7 World Trade Center, to the north of the World Trade Center. Silverstein was interested in acquiring the entire World Trade Center complex, and put in a bid when the Port Authority put it up for lease in 2000. Silverstein won the bid when a deal between the initial winner and the Port Authority fell through, and he signed the lease on July 24, 2001, only weeks before the towers were destroyed in the September 11 attacks.

Soon after the September 11 attacks, Silverstein declared his intent to rebuild, though ran into dispute with his insurers over whether the attacks constituted one or two occurrences. A settlement was reached in 2004, with insurers agreeing to pay out $4.55 billion, which was not as much as Silverstein sought. Silverstein also ran into dispute with other parties in the rebuilding effort, including the Port Authority. In an agreement reached in April 2006, Silverstein retained rights to build three office towers (150 Greenwich Street, 175 Greenwich Street, and 200 Greenwich Street), while the Freedom Tower will be owned by the Port Authority as well as Tower Five which may be leased out to another private developer and redesigned as a residential building.

Silverstein was born in Bedford-Stuyvesant, in Brooklyn in 1931. Growing up, Silverstein enjoyed classical music and played the piano. He attended the High School of Music and Art in New York, and then New York University, graduating in 1952. During college, Silverstein worked at a summer camp, where he met his wife, Klara. The couple married in 1956, and had three children: Lisa, Roger and Sharon. His wife worked as a school teacher, supporting the family on her salary for the first few years of their marriage while Silverstein attended classes at Brooklyn Law School.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Larry A. Silverstein." | Wiki History
UPI Thoroughbred Racing Roundup (17 min)
Your Daily Horoscope
The almanac
NHL: San Jose 4, Vancouver 2
Modest Atlantic hurricane season ends
COL BKB: West Virginia 84, Portland 66
NFL: Baltimore 20, Pittsburgh 17 (OT)
fark
Austrian government moves to ban Santa Claus, saying he is a foreign invader who threatens the racial...
Photoshop this piece of paper
When driving your pickup into your ex's house just doesn't send the right message, try setting the...
Organizers of prison raffle realize that offering a first prize of "get out of jail free" may have...
Church finds success using football to bring people to God, because football is real and can change...
British officials spend two years and $500,000 on study proving that 10-pin bowling is a health...