Larry Silverstein in the context of "Silver Towers"

Larry Silverstein in the context of "Silver Towers"

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⭐ Core Definition: Larry Silverstein

Larry A. Silverstein (born May 30, 1931) is an American billionaire businessman. Among his real estate projects, he is the developer of the rebuilt World Trade Center complex in Lower Manhattan, New York City, as well as one of New York's tallest residential towers at 30 Park Place, where he owns a home. As of December 2024, he had an estimated net worth of US$1 billion according to Forbes.

Silverstein was born in Brooklyn, and became involved in real estate, together with his father, establishing Silverstein Properties. Silverstein separated from his business partner, Bernard Mendik, in 1977, and bought a number of large office buildings in Midtown and Lower Manhattan in the late 1970s. In 1980, he won a bid from the Port Authority of New York and New Jersey to construct 7 World Trade Center on Vesey Street, just north of the main World Trade Center site. He was interested in acquiring the original World Trade Center complex, and put in a bid when the Port Authority put it up for lease in 2000. He 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.

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👉 Larry Silverstein in the context of Silver Towers

The Silver Towers are twin residential buildings in the Hell's Kitchen (formerly also known as Clinton) neighborhood of Manhattan, New York City. The 60-story buildings stand on the west side of Eleventh Avenue between 41st Street and 42nd Street near the Hudson River and contain 1,359 units. The project includes a 75-foot (23 m) pool, the largest in a New York City residential building, as well as a quarter-acre public park on the west side of the towers. The Silver Towers were completed in June 2009.

Larry Silverstein, who developed the buildings, bought the block between 42nd and 41st Streets between 11th and 12th Avenues in 1984 for $20 million. At the time, the site was vacant and zoned for single story industrial use. The block was rezoned in 1989, and One River Place, a 41-story residential high-rise, opened on the west end in 2000. In 2000, Silverstein contemplated developing an office building on the east end of the block. A few years later, the site was considered as the location for a 1,500-room hotel as part of the plans to expand the Jacob K. Javits Convention Center.

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