Silverstein Properties

Last updated

Silverstein Properties Inc.
Company type Private
Industry Real estate development
Founded1957;68 years ago (1957)
Founder Larry Silverstein
Headquarters 7 World Trade Center,
Manhattan, New York
,
U.S.
Area served
Worldwide
Number of employees
500+
Website silversteinproperties.com

Silverstein Properties Inc. is an American family-held, full-service real estate development, investment and management firm based in New York City. Founded in 1957 by Chairman Larry Silverstein, the company specializes in developing, acquiring, and managing office, residential, hotel, retail, and mixed-use properties. The firm is New York City's fifth-largest commercial landlord. [1]

Contents

Silverstein Properties' real estate business has been one of the largest investors in New York City real estate over the past fifty years, [2] having developed, owned and managed more than 40 million square feet of office, residential, hotel and retail properties including the new World Trade Center, 30 Park Place (Four Seasons Private Residences New York Downtown), 120 Wall Street, Equitable Building, and Americas Tower. [3]

Silverstein Properties is headquartered at 7 World Trade Center in Manhattan, New York City. [4]

Company

Silverstein Properties has developed, owned, and managed more than 40 million SF (3.25 million m2) of commercial, residential, and retail space. Prior to joining the firm, Silverstein Properties' executives and professionals developed in excess of 100 million SF (9.3 million m2) in the United States and abroad. [3]

Silverstein Properties' portfolio includes 13.4 million [1] square feet of office, residential and retail properties and $10 billion of current development. Notable past and current projects include: [5]

New York casino bid

The Avenir
Location Hell’s Kitchen
New York City, New York
Opening datecancelled
No. of rooms1,000
Casino type Resort
OwnerSilverstein Properties
Operating license holderRush Street Gaming
Greenwood Gaming and Entertainment
Website https://www.theavenir.com/

Silverstein Properties was one of eight bidders looking to open a casino in downstate New York. Silverstein Properties had proposed building a 1,000 room casino hotel called The Avenir in Hell's Kitchen, [29] in conjunction with Hyatt International. [30] [31] In May of 2025, the design of the hotel was revealed. If built, the building will be 785 feet tall. [32] [33] Silverstein Properties submitted their bid for a commercial casino license on June 27, 2025. [34] On September 17, 2025, a community advisory committee, appointed by the state government, voted against the proposed development, thus ending the proposal. [35]

Recognition

Since 2012, SPI has been ranked 33rd of the "Best Places to Work in New York City" by Crain's. [36]

References

  1. 1 2 "NYC's Top 10 Biggest Landlords". April 29, 2015.
  2. ↑ "Silverstein Properties History | Commercial Real Estate". www.silversteinproperties.com. Retrieved July 17, 2016.
  3. 1 2 "About Silverstein Properties | New York Real Estate". www.silversteinproperties.com. Retrieved July 17, 2016.
  4. ↑ "Silverstein Properties – TRD Research". The Real Deal. March 19, 2019. Retrieved August 17, 2020.
  5. ↑ Larry Silverstein, Silverstein Properties. Commercial Observer 2013
  6. ↑ "Tribeca Condominiums for Sale in NYC with Sweeping Views | 30 Park Place, Four Seasons Private Residences New York Downtown". 30 Park Place. Retrieved July 17, 2016.
  7. ↑ Westfeldt, Amy (May 23, 2006). "First Rebuilt Skyscraper at WTC Opens". The Washington Post . ISSN   0190-8286 . Retrieved April 23, 2018.
  8. ↑ "First World Trade Center tower opens 12 years after 9/11". NY Daily News. Retrieved April 23, 2018.
  9. ↑ "Under Construction: Inside the Nearly Completed 3 WTC". Commercial Observer. February 13, 2018. Retrieved April 23, 2018.
  10. ↑ "Murdochs abandon 2 World Trade, Silverstein soldiers on". Politico PRO. Retrieved April 23, 2018.
  11. ↑ "One West End". www.1westend.com. Retrieved July 17, 2016.
  12. ↑ "Silverstein buys majority stake in Taconic's 619 West 54th". February 1, 2017.
  13. ↑
  14. ↑ "529 5th Avenue | NYC | Commercial Real Estate". www.silversteinproperties.com. Retrieved July 17, 2016.
  15. 1 2 Gross, Daniel (September 19, 2006). "SILVERSTEIN MOVES INTO RESIDENTIAL IN '90S".
  16. ↑ "Another out-of-town firm shows interest in D.C. – The Washington Post". The Washington Post .
  17. ↑ Kennedy, Shawn G. (August 3, 1983). "Sale of 2 Large Buildings in Manhattan Stirs Interest". The New York Times.
  18. ↑ Horsley, Carter B. (July 26, 1978). "Real Estate". The New York Times.
  19. ↑ Clarke, Katherine. "World Trade Center developer Silverstein Properties files suit over botched $138M deal for East Side tower – NY Daily News". New York Daily News .
  20. ↑ "Who Wants to Move to Ground Zero?". NYMag.com. April 8, 2005.
  21. ↑ "Larry Silverstein to build city's tallest apartment tower". July 2, 2014.
  22. 1 2 3 4 5 6 7 8 Baird-Remba, Rebecca (July 9, 2018). "Silverstein Prepares to Buy ABC Campus for $1.2B". commercialobserver.com. Retrieved January 17, 2019.
  23. ↑ "Larry Silverstein marks first foray overseas". December 9, 2011.
  24. ↑ "LA's US Bank Tower sold to World Trade Center developer". Fox Business . Associated Press. July 22, 2020. Retrieved January 29, 2021.
  25. ↑ "Silverstein Properties Closes on $430M US Bank Tower Buy" . The Real Deal Los Angeles. September 16, 2020. Retrieved May 20, 2021.
  26. ↑ Bergholz, William (August 6, 2020). "U.S. Bank Tower sold to Trade Center developer". Los Angeles Downtown News. Retrieved May 20, 2021.
  27. ↑ Gonnabe. "ETHOS – In the Heart of Warsaw High Street • News • Kulczyk Silverstein Properties". ksprop.com.
  28. ↑ Qianhai Economic Zone
  29. ↑ Short, Aaron (February 10, 2025). "Breaking down every 2025 New York casino license bid". City & State New York. Retrieved February 19, 2025.
  30. ↑ Small, Eddie (June 20, 2025). "Hyatt joins Silverstein's bid for a Far West Side casino". Crain's New York Business. Retrieved June 23, 2025.
  31. ↑ Limone, Jerry (June 25, 2025). "Developer of proposed NYC casino chooses Hyatt as hotel partner". Travel Weekly.
  32. ↑ "New Design Revealed for The Avenir, The Proposed Mixed-Use Complex on Manhattan's Far West Side". The Avenir. May 22, 2025.
  33. ↑ Londono, Vanessa (May 28, 2025). "Silverstein's Massive New Mixed-Use Tower, The Avenir, Revealed In Hell's Kitchen, Manhattan". New York YIMBY.
  34. ↑ O'Connor, Devin (June 27, 2025). "New York Fields Eight Bids for Three Downstate Casinos". Casino.org. Retrieved June 27, 2025.
  35. ↑ Wong, Natalie; Cattan, Nacha (September 17, 2025). "Caesars' Times Square Casino Bid Ends After NYC Community Vote". Bloomberg.com. Retrieved September 17, 2025; Huston, Caitlin (September 17, 2025). "Times Square Casino Proposal, Backed By Caesars and Jay-Z, Denied By Advisory Committee". The Hollywood Reporter. Retrieved September 17, 2025.
  36. ↑ "No. 33 Silverstein Properties – Best Places to Work 2012 – Crain's New York Business". November 8, 2012.
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