Larry Silverstein

Larry A. Silverstein (* May 30, 1931 in Brooklyn, New York City ) is an American billionaire and investor. He is chairman of real estate firm Silverstein Properties.

Life

Silverstein graduated in 1952 at New York University. Together with his father, Harry G. Silverstein and his brother Bernard Mendik he founded first Harry G. Silverstein & Sons, later Silverstein Properties Inc. to buy real estate in New York City, especially in Manhattan.

He is married to his wife Klara since 1956 and has two daughters and a son. Two of his children, a daughter and his son, also work at Silverstein Properties.

Tenant of the old World Trade Center

After the withdrawal of any other bidder, who had initially preferred to him, Silverstein received on 24 July 2001 a limited 99-year lease on the twin towers of the World Trade Center in New York City. The 47-story old 7 World Trade Center already belonged to him.

After these three buildings were destroyed in the terrorist attacks of 11 September 2001, he still had to go to the lease agreement continues to pay the rent on a daily basis. In order to meet these sums, he tried with his Australian partner Frank Lowy to receive the agreed insured sum of 3.5 billion dollars for each of the two WTC towers, because they had been destroyed by two independent events. As a result, he received a sum insured of $ 4.6 billion, which he uses for the new building of the complex.

Investor of the new World Trade Center

The construction of One World Trade Center (formerly the Freedom Tower ) began in 2006 and was commissioned by Silverstein Properties in order. Shortly thereafter, the New York Port Authority took over the construction of this 541 -meter-high tower. Silverstein is currently in the buildings Two World Trade Center, Three World Trade Center and World Trade Center. The World Trade Center Memorial was built jointly by him and the port authority. The new 7 World Trade Center opened in 2006.

Silverstein invested the entire court historically achieved sum insured for the destroyed old WTC in the new building. Meanwhile expected total costs increased in the course of about nine billion U.S. dollars. In addition, some insurance companies were able to pay their share of the insurance amount immediately. Thus, the duration and the design concept of the new building were temporarily called into question.