Silverstein Properties

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Silverstein Properties, Inc.
Private
Industry Real estate development
Founded1957;62 years ago (1957)
Founder Larry Silverstein
Headquarters 7 World Trade Center,
Manhattan, New York City
,
U.S.
Area served
Worldwide
Number of employees
500+
Website silversteinproperties.com

Silverstein Properties, Inc. (SPI) is a 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]

Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing." It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, England, Wales, Northern Ireland, United States, Canada, Pakistan, Australia, and New Zealand.

New York City Largest city in the United States

The City of New York, often called New York City (NYC) or simply New York (NY), is the most populous city in both the state of New York and the United States. With an estimated 2017 population of 8,622,698 distributed over a land area of about 302.6 square miles (784 km2), New York is also the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 20,320,876 people in its 2017 Metropolitan Statistical Area and 23,876,155 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural, financial, and media capital of the world, and exerts a significant impact upon commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. The city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.

Larry Silverstein American businessman

Larry A. Silverstein is an American businessman.

Contents

SPI's 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]

World Trade Center (2001–present) set of buildings built on the site of the former Word Trade Center site in New York City after 2001

The World Trade Center is a mostly completed complex of buildings in Lower Manhattan, New York City, U.S., replacing the original seven World Trade Center buildings on the same site that were destroyed in the September 11 attacks. The site is being rebuilt with up to six new skyscrapers, four of which have been completed; a memorial and museum to those killed in the attacks; an elevated park adjacent to the site, called Liberty Park; and a transportation hub. The 104-story One World Trade Center, the tallest building in the Western Hemisphere, is the lead building for the new complex.

120 Wall Street skyscraper in New York City

120 Wall Street is a skyscraper in the Financial District of Lower Manhattan in New York City, and was completed in 1930. The building is 399 ft tall, has 34 floors, and is located on the easternmost portion of Wall Street, and also borders Pine Street and South Street.

Equitable Building (Manhattan) skyscraper in New York City

The Equitable Building is a 40-story office building in New York City, located at 120 Broadway between Pine and Cedar Streets in the Financial District of Lower Manhattan. A landmark engineering achievement as a skyscraper, it was designed by Ernest R. Graham — the successor to D. H. Burnham & Company — with Peirce Anderson as the architect-in-charge, and completed in 1915, when it was the largest office building in the world by floor area: on a plot of just less than 1 acre (4,000 m2), the building had 1.2 million square feet (110,000 m2) of floor space. Built to be the headquarters of the Equitable Life Insurance Company, the controversy surrounding its construction without setbacks, which does not allow sunlight to reach the surrounding ground, contributed to the adoption of the first modern building and zoning restrictions on vertical structures in Manhattan, the 1916 Zoning Resolution. Although it is now dwarfed by taller buildings in its vicinity, it still retains a distinctive identity in its surroundings on Lower Broadway.

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

7 World Trade Center Either of two buildings that have existed at the same location within the World Trade Center site in Lower Manhattan, New York City

7 World Trade Center refers to two buildings that have existed at the same location within the World Trade Center site in Lower Manhattan, New York City. The current structure is the second building to bear that name and address in the World Trade Center complex. The original structure, part of the original World Trade Center, was completed in 1987 and was destroyed in the September 11 attacks in 2001. The current building opened in May 2006. Both buildings were developed by Larry Silverstein, who holds a ground lease for the site from the Port Authority of New York and New Jersey.

Manhattan Borough in New York City and county in New York, United States

Manhattan, often referred to locally as the City, is the most densely populated of the five boroughs of New York City and its economic and administrative center, cultural identifier, and historical birthplace. The borough is coextensive with New York County, one of the original counties of the U.S. state of New York. The borough consists mostly of Manhattan Island, bounded by the Hudson, East, and Harlem rivers; several small adjacent islands; and Marble Hill, a small neighborhood now on the U.S. mainland, physically connected to the Bronx and separated from the rest of Manhattan by the Harlem River. Manhattan Island is divided into three informally bounded components, each aligned with the borough's long axis: Lower, Midtown, and Upper Manhattan.

Company

Perhaps best known for developing and owning [4] [5] the World Trade Center complex, SPI 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, SPI's executives and professionals developed in excess of 100 million SF (9.3 million m2) in the United States and abroad. [3]

World Trade Center site Ground Zero

The World Trade Center site, formerly referred to as "Ground Zero" or "the Pile" immediately after the September 11 attacks, is a 14.6-acre (5.9 ha) area in Lower Manhattan in New York City. The site is bounded by Vesey Street to the north, the West Side Highway to the west, Liberty Street to the south, and Church Street to the east. The Port Authority owns the site's land. The previous World Trade Center complex stood on the site until it was destroyed in the September 11 attacks.

SPI's 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: [6]

Four Seasons Hotels and Resorts company

Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is an international luxury hospitality company headquartered in Toronto, Ontario. Four Seasons operates more than 100 hotels worldwide. Since 2007, Bill Gates and Prince Al-Waleed bin Talal have been majority owners of the company.

Walt Disney World Entertainment complex in Florida, United States

The Walt Disney World Resort, also called Walt Disney World and Disney World, is an entertainment complex in Bay Lake and Lake Buena Vista, Florida, in the United States, near the cities Orlando and Kissimmee. Opened on October 1, 1971, the resort is owned and operated by Disney Parks, Experiences and Products, a division of The Walt Disney Company. It was first operated by Walt Disney World Company. The property covers nearly 25,000 acres and only half of it has been used, comprises four theme parks, two water parks, twenty-seven themed resort hotels, nine non-Disney hotels, several golf courses, a camping resort, and other entertainment venues, including the outdoor shopping center Disney Springs.

4 World Trade Center skyscraper in Manhattan, New York City

4 World Trade Center is a skyscraper that is part of the World Trade Center complex in New York City. It is located on the southeast corner of the 16-acre (6.5 ha) World Trade Center site, where the original nine-story 4 World Trade Center stood. Pritzker Prize-winning architect Fumihiko Maki was awarded the contract to design the 978-foot-tall (298 m) building. It houses the headquarters of the Port Authority of New York and New Jersey (PANYNJ).

Since 2012, SPI has been ranked 33rd of the "Best Places to Work in New York City" by Crain's. [23]

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Vornado Realty Trust company

Vornado Realty Trust is a real estate investment trust formed in Maryland, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.

One World Trade Center main building of the rebuilt World Trade Center complex in Lower Manhattan, New York City

One World Trade Center is the main building of the rebuilt World Trade Center complex in Lower Manhattan, New York City. One WTC is the tallest building in the United States, the tallest building in the Western Hemisphere, and the sixth-tallest in the world. The supertall structure has the same name as the North Tower of the original World Trade Center, which was destroyed in the terrorist attacks of September 11, 2001. The new skyscraper stands on the northwest corner of the 16-acre (6.5 ha) World Trade Center site, on the site of the original 6 World Trade Center. The building is bounded by West Street to the west, Vesey Street to the north, Fulton Street to the south, and Washington Street to the east.

Survivors Staircase

The Survivors' Staircase was the last visible remaining original structure above ground level at the World Trade Center site. It was originally two outdoor flights of granite-clad stairs and an escalator that connected Vesey Street to the World Trade Center's Austin J. Tobin Plaza. During the September 11 attacks, the stairs served as an escape route for hundreds of evacuees from 5 World Trade Center, a 9-floor building adjacent to the 110-story towers. The staircase is now an important feature of the National September 11 Memorial & Museum.

5 World Trade Center skyscraper

5 World Trade Center is a planned skyscraper at the World Trade Center in Lower Manhattan, New York City. The site is across Liberty Street, to the south of the main 16-acre (6.5 ha) World Trade Center site. As of June 2018, the project is on standby while the Port Authority explores a potential sale of the lot to a developer and looks for tenants to occupy the skyscraper. The proposed building shares its name with the original 5 World Trade Center, which was heavily damaged as a result of the collapse of the North Tower during the September 11 attacks and was later demolished. The Port Authority has no plans to construct a building at 130 Liberty Street, although it is open to future development of the site as office, retail, hotel, residential or some mix of those uses.

3 World Trade Center

3 World Trade Center is a skyscraper constructed as part of the rebuilding of the World Trade Center in Lower Manhattan, New York City. The tower is located on the east side of Greenwich Street, on the eastern side of the World Trade Center site.

Four Seasons Hotel New York Downtown skyscraper in New York City

The Four Seasons Hotel New York Downtown, also known as 30 Park Place, is a hotel and residential skyscraper in Tribeca, Manhattan, New York City. At 926 feet, the property is the tallest residential building downtown, offering residents panoramic views of the Midtown skyline and New York Harbor. The top floors of the 82-story building, known as the Four Seasons Private Residences New York Downtown, have 157 residences, ranging from one to six bedrooms, all reached through a dedicated residential lobby at 30 Park Place. Below is a 189-room Four Seasons Hotel, with its own lobby on Barclay Street, which opened in September 2016.

432 Park Avenue Skyscraper in New York City

432 Park Avenue is a residential skyscraper in New York City that overlooks Central Park. Originally proposed to be 1,300 feet in 2011, the structure topped out at 1,396 ft (425.5 m). It was developed by CIM Group and features 125 condominium apartments. Construction began in 2012 and was completed on December 23, 2015.

Lloyd Goldman is a New York real estate developer and founder of BLDG Management.

2 World Trade Center unfinished office building at the rebuilt World Trade Center in Manhattan, New York City

2 World Trade Center is a skyscraper under construction as part of the World Trade Center complex in Manhattan, New York City. It will replace the original 2 World Trade Center, which was completed in 1972, and subsequently destroyed during the September 11 attacks in 2001. The foundation work was completed in 2013.

Kamran Hakim is a New York-based real estate investor and one of New York City's largest private landlords.

World Trade Center (1973–2001) complex of buildings in Lower Manhattan, New York City, United States

The original World Trade Center was a large complex of seven buildings in Lower Manhattan, New York City, United States. It featured the landmark Twin Towers, which opened on April 4, 1973 and were destroyed in 2001 during the September 11 attacks. At the time of their completion, the Twin Towers — the original 1 World Trade Center, at 1,368 feet (417 m); and 2 World Trade Center, at 1,362 feet (415.1 m) — were the tallest buildings in the world. Other buildings in the complex included the Marriott World Trade Center, 4 WTC, 5 WTC, 6 WTC, and 7 WTC. The complex was located in New York City's Financial District and contained 13,400,000 square feet (1,240,000 m2) of office space.

Hill West Architects is a New York City based architecture firm which works on the planning and design of high-rise residential and hospitality buildings, retail structures and multi-use complexes. They have participated in the design of prominent structures in the New York City metropolitan area. The firm was founded in 2009 by Alan Goldstein, L. Stephen Hill and David West. Its clients have included Extell Development Company, The Witkoff Group, The Trump Organization, Silverstein Properties, Tishman Speyer and The Lightstone Group.

Robert A.M. Stern Architects (RAMSA) is an architecture firm based in New York City. First established by Robert A.M. Stern in 1969, it is now organized as a limited liability partnership with 16 general partners. The firm's portfolio includes a variety of building types as well as planning, landscape design, interior design, and product design, throughout the U.S. and internationally.

Brookfield Property Partners L.P. is a global company which owns, operates and invests in commercial property. The majority of the company’s assets are located in North America, Europe, and Australia.

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. Deal, All rights reserved © 2016 The Real Deal is a registered Trademark of Korangy Publishing Inc-The Real; Inc.; Street, 158 West 29th; York, New; Map, NY 10001 Phone: 212-260-1332 The Real Deal Magazine (2016-05-04). "Silverstein Properties is (still) thinking BIG for 2 WTC". The Real Deal New York. Retrieved 2016-07-17.
  5. Deal, All rights reserved © 2016 The Real Deal is a registered Trademark of Korangy Publishing Inc-The Real; Inc.; Street, 158 West 29th; York, New; Map, NY 10001 Phone: 212-260-1332 The Real Deal Magazine (2016-06-24). "Finally! 15 years later, 3 WTC tops out". The Real Deal New York. Retrieved 2016-07-17.
  6. Larry Silverstein, Silverstein Properties. Commercial Observer 2013
  7. "Tribeca Condominiums for Sale in NYC with Sweeping Views | 30 Park Place, Four Seasons Private Residences New York Downtown". 30 Park Place. Retrieved 2016-07-17.
  8. "One West End". www.1westend.com. Retrieved 2016-07-17.
  9. "Silverstein buys majority stake in Taconic's 619 West 54th". 1 February 2017.
  10. "529 5th Avenue | NYC | Commercial Real Estate". www.silversteinproperties.com. Retrieved 2016-07-17.
  11. 1 2 Gross, Daniel. "SILVERSTEIN MOVES INTO RESIDENTIAL IN '90S".
  12. https://www.washingtonpost.com/capital_business/another_out_of_town_firm_shows_interest_in_dc/2011/03/18/ABN35gr_story.html
  13. Kennedy, Shawn G. "Sale of 2 Large Buildings in Manhattan Stirs Interest".
  14. Horsley, Carter B. (26 July 1978). "Real Estate" via NYTimes.com.
  15. Clarke, Katherine. "World Trade Center developer Silverstein Properties files suit over botched $138M deal for East Side tower - NY Daily News".
  16. "Who Wants to Move to Ground Zero?". NYMag.com.
  17. "Larry Silverstein to build city's tallest apartment tower". 2 July 2014.
  18. 1 2 3 4 5 6 7 8 July 9, Rebecca Baird-Remba; Pm, 2018 4:32 (July 9, 2018). "Silverstein Prepares to Buy ABC Campus for $1.2B". commercialobserver.com. Retrieved January 17, 2019.
  19. News, Bloomberg. "Larry Silverstein marks first foray overseas".
  20. Gonnabe. "ETHOS – In the Heart of Warsaw High Street • News • Kulczyk Silverstein Properties". ksprop.com.
  21. Qianhai Economic Zone
  22. "No. 33 Silverstein Properties - Best Places to Work 2012 - Crain's New York Business".