Larry Silverstein

Larry A. Silverstein
President and CEO
Silverstein Properties, Inc.

Wednesday, November 19, 2008

[Larry A. Silverstein]
Larry A. Silverstein serves as President and CEO of Silverstein Properties, Inc., a Manhattan-based real estate development and investment firm that owns, manages and has developed more than 20 million square feet of office, residential and retail space. The firm has $9 billion worth of construction activity currently under way.

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-foot World Trade Center for $3.25 billion, only to see it destroyed in terrorist attacks six weeks later on September 11, 2001. He is currently rebuilding the office component of the World Trade Center site, an $8-billion project that will consume the balance of his working life.

In May 2006, Silverstein Properties opened 7 World Trade Center, a 52-story, 1.7 million square foot office tower at 250 Greenwich Street, just north of the World Trade Center site. Seven WTC is now almost fully leased to a diverse group of financial, media and corporate tenants. In September 2006, designs were unveiled for three new office towers on the WTC site—200, 175 and 150 Greenwich Street—that will be developed by Silverstein Properties. Construction on the three towers began in 2008.

In January 2008, Mr. Silverstein announced the partnership between Silverstein Properties and Four Seasons to develop the Four Seasons Hotel New York, Downtown and Four Seasons Private Residences at 30 Park Place. Mr. Silverstein hired Robert A.M. Stern to design the new luxury residential and hotel tower which is scheduled to open in 2011. Stern joins the roster of world-class architects—David Childs, Lord Norman Foster, Fumihiko Maki and Lord Richard Rogers—who are working with Silverstein Properties to transform the landscape downtown.

Mr. Silverstein is also building Silver Towers at River Place, two 60-story residential towers at 600 West 42nd Street, the companion to 1 River Place, a 40-story, 921-unit tower which opened in 2000. Upon completion in 2009, the square block development will house 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 served as Vice Chairman of the New York University Board of Trustees and is the Founder and Chairman emeritus of the New York University 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.

Larry and Klara Silverstein have been married for over fifty years and have three children, two of whom are executives at Silverstein Properties. Mr. Silverstein contributes his time and resources to organizations that are dedicated to education and medical research, meeting humanitarian needs and supporting the arts. He is a classical music enthusiast, a passionate yachtsman and a dedicated New Yorker.