World Trade Center (2001–present) in the context of "Larry Silverstein"


World Trade Center (2001–present) in the context of "Larry Silverstein"

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⭐ Core Definition: World Trade Center (2001–present)

The World Trade Center (WTC) is a complex of buildings in Lower Manhattan, New York City, replacing the original seven buildings on the same site that were destroyed during the September 11 attacks of 2001. The area is currently being redeveloped with up to six skyscrapers, four of which have been finished as of 2025; a memorial and museum is at the new plaza; which is the elevated Liberty Park adjacent to the site, containing the St. Nicholas Greek Orthodox Church and the Vehicular Security Center; the Perelman Performing Arts Center; and a transportation hub. The 104-story One World Trade Center, being the tallest building in the Western Hemisphere, is the lead building for the new complex.

The buildings are among many created by the World Trade Centers Association. The original World Trade Center including the Twin Towers, were opened in 1973 and were the tallest buildings in the world at the time of their completion. They were destroyed on the morning of September 11, 2001, when al-Qaeda members hijacked two Boeing 767 jets and flew them into the towers in a coordinated act of terrorism, killing 2,753 people. The resulting collapse of the World Trade Center caused structural failure in the surrounding buildings as well. The process of cleaning up and recovery at the World Trade Center site took eight months, after which site redevelopment commenced.

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👉 World Trade Center (2001–present) in the context of 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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