Larry Silverstein Net Worth is$3.5 Billion
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Profession: Businessperson, Real Estate, Real estate developer
Date of Birth: May 30, 1931
Country: United States of America
Larry Silverstein was born in New York and has an estimated net worth of $3.5 billion. A real estate developer and investor, Larry Silverstein is most widely known as the developer who purchased The World Trade Center on July 24, 2001, one month before the complex was destroyed in the 9/11 attack. He is also the developer for a number of other properties in New York and the District of Columbia.
Larry A. Silverstein (born May 30, 1931) is an American businessman, 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 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, 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.
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 2007, with insurers agreeing to pay out $4.55 billion, which was not as much as Silverstein sought. Silverstein also ran into multiple disputes with other parties in the rebuilding effort, including with 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 One World Trade Center (previously referred to as 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 into a Jewish family. 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,

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Larry Silverstein Latest News

Making Sense of 2017 as the Real Estate Market Has Returned to Earth

“I’m not sure where all of the money is going to come from to buy all of the pricey units,” said Larry Silverstein, the chairman of Silverstein Properties, whose portfolio includes 30 Park Place, a luxury condo tower and Four Seasons Hotel where ...
Posted: December 13, 2017, 5:00 am

Airline defendants to pay $95 million in 9/11 settlement

Barry Jr., who submitted the papers to U.S. District Judge Alvin K. Hellerstein, declined to comment Wednesday. Developer Larry Silverstein and World Trade Center Properties have collected more than $5 billion from other defendants through lawsuits.
Posted: November 22, 2017, 11:21 am

American, United settle World Trade Center developer's 9/11 claims

11, 2001 attacks, which involved the carriers’ hijacked planes. Insurers will cover the payout to entities affiliated with Larry Silverstein and his Silverstein Properties, according to settlement papers filed on Tuesday with the U.S. District Court in ...
Posted: November 21, 2017, 8:00 pm
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