Who is Larry Silverstein?
Larry Silverstein was born May 30 in Bedford-Stuyvesant in Brooklyn on Jewish descent. As early as 1955 he started developing an entrepreneurial spirit that led him to help construct the World Trade Center; yet his real estate accomplishments extend far beyond this single achievement.
How did Larry Silverstein begin his career?
Starting out in the 1950s, Larry was initially drawn into the real estate business through family ties. His father, Harry G. Silverstein, was the foundation of Larry’s real estate journey. Together with his brother-in-law, Bernard Mendik, they founded Silverstein Properties in 1957, initially as Harry G. Silverstein & Sons. Their first major venture was the acquisition of a building in Manhattan.
What is Larry Silverstein’s net worth?
Silverstein has amassed an estimated net worth of around $3.5 billion through successful transactions across New York real estate markets and beyond over decades.
Larry Silverstein became synonymous with the World Trade Center after its destruction during terrorist attacks of September 11, 2001. With a vision to rebuild and restore, Larry committed to the reconstruction of the iconic landmark. His net worth played a significant role in enabling the reconstruction. While the project demanded a whopping $4.5 billion, Silverstein had mentioned it costed less than anticipated. By 2006, he was given the green light to rebuild three significant office buildings on Greenwich Street.
What other investments contribute to Silverstein’s wealth?
Outside of the World Trade Center project, Larry Silverstein has a plethora of other investments that have boosted his net worth. Prominent buildings under his belt include 570 Seventh Avenue, 529 Fifth Avenue, and 11 77 Avenue in New York. He’s also diversified his portfolio with properties in Washington DC. Silverstein’s influence isn’t just limited to owning buildings; he’s also a governor of the Real Estate Board of New York.
Who are the people in Larry Silverstein’s life?
Larry’s life has been richly blessed by music, family and love. As a child he enjoyed classical music and took great delight in performing piano pieces from classical works by composers. Years later his path crossed with Klara who works at summer camps together as school teachers; eventually they met. The two tied the knot in 1956, welcoming three children over the years. Despite the professional success Larry eventually achieved, the early days were challenging, and Klara played an instrumental role in supporting the family. However, their journey together as a married couple ended in 1977 with a divorce.
How has Larry Silverstein given back to the community?
Larry’s legacy isn’t limited to real estate alone. He’s known for his philanthropic endeavors, significantly impacting the community. Silverstein holds an esteemed position as founder and chairman of New York University’s Real Estate Institute, along with serving in Jewish causes through such roles as Chairman of United Jewish Appeal in New York, Treasurer for National Jewish Medical and Research Center and Chairman for Realty Foundation.
Larry Silverstein’s life can best be summarized as an intricate web of business acumen, resilience in the face of hardship, personal commitments and giving back to society. From Brooklyn’s bustling streets to New York City skylines he has shown immense ambition, vision and perseverance along his journey.
