Silverstein Properties history

Larry Silverstein and Mendik continued acquiring properties as syndicators until economic conditions worsened in 1972.

Silverstein's portfolio in 1978 contained about four million square feet of floor space and included 521, 529, 530, 689, and 711 Fifth Avenue, 44 Wall Street, and a shopping center in Stamford, Connecticut.

In 1980 Silverstein Properties completed a $25 million renovation of the 33-story office building at 11 West 42nd Street, in collaboration with Tishman Speyer Properties.

In 1989 Silverstein Properties and General Electric Pension Trust agreed to construct and jointly own a 43-story Embassy Suites hotel.

In 1991 Silverstein Properties set aside 20 stories of the 34-floor office building at 120 Wall Street as tax-free headquarters for nonprofit groups that might otherwise leave the city.

By 1998 Silverstein and his backers were feeling sufficiently confident in downtown Manhattan's business climate to purchase the 52-story office building at 140 Broadway from Leona Helmsley for $191 million.

Another let him continue to manage 120 Broadway, and in 1999 sold the building back to him."

Silverstein smoothed his relations with the state in 2000 by agreeing to sell it most of the block between West 39th and 40th streets and 11th and 12th avenues.

The World Trade Center Disaster and Its Aftermath: 2001-02

Downtown’s momentum is palpable and unstoppable – more than 600 firms have moved to Downtown since 2005, leasing over 15 million square feet of space.