Larry Silverstein

Larry Silverstein is an American businessman and real estate developer known for his involvement in the World Trade Center properties. He is the founder and CEO of Silverstein Properties, a real estate development and management company based in New York City.

Larry Silverstein had a significant connection to the World Trade Center as he signed a 99-year lease on the entire complex in July 2001, just weeks before the 9/11 terrorist attacks. After the attacks, he became widely known for his efforts in rebuilding and developing the World Trade Center site.

Larry Silverstein acquired the World Trade Center lease through a complex transaction. In 2001, he won the lease for the Twin Towers, Building 7, and surrounding areas as part of a bid made by Silverstein Properties and Westfield America. They agreed to pay the Port Authority of New York and New Jersey $3.2 billion as an upfront fee for the lease.

Larry Silverstein has faced some controversies related to insurance claims after the 9/11 attacks. He initially filed two insurance claims for the two separate attacks, asserting that each plane constituted a separate occurrence. However, his insurance carriers argued that they should be considered as one occurrence, leading to legal battles and settlements.

Larry Silverstein has contributed significantly to the redevelopment of the World Trade Center site. He played a crucial role in the design and development of the new One World Trade Center, also known as the Freedom Tower, which stands as the centerpiece of the complex. Silverstein Properties has been involved in various other building projects at the site, including the World Trade Center Transportation Hub and several office towers.