In the strongest sign yet that 80-year-old Silverstein Properties chief executive Larry Silverstein is seriously considering a succession plan, a former president of Artisan Real Estate Ventures has been tapped as the World Trade Center owner’s co-chief executive, it was announced last week.
Uniformed men milled about, waiting for Leon Panetta, the newly appointed Secretary of Defense, to embark on his morning tour of 7 World Trade Center. At the same time, the leader of one of the city’s most powerful trade unions was being greeted as he crossed from the building’s elevator bank to a floor model of the World Trade Center site. Heavyset and stoic, that labor leader was there to address the members of Helmets to Hardhats, an organization that assists soldiers in their transition from battlefields to construction sites.
A few hours earlier, Mayor Bloomberg had arrived in Lower Manhattan along with his own entourage, calling for the end to “Ground Zero” as the shorthand to describe what, over the course of a decade, has changed from a pile of smoldering ashes to the early metallic seeds of a transit hub, a memorial site and a massive complex of skyscrapers.
More than three months into an impasse over the financing for the World Trade Center, officials and executives involved with the project are increasingly contemplating a new scenario: a long-term stalemate in which private developer Larry Silverstein does not build his office towers. The fight has led the Port Authority, which owns the site, Read More
Almost as if to say, “Really—we aren’t upset,” Silverstein Properties has issued an addendum to its earlier statement on the Port Authority’s excavation delays for Towers 3 and 4 at the World Trade Center site, showering even more praise on the Port Authority.
“We appreciate how much the Port Authority has accomplished this Read More
One is tall, while the other is, well, sort of on the short side. One’s all business, while the other has a government background. One has got a reputation for bluntness, while the other is diplomatic–or at least up to a point. Here’s Janno Lieber, Larry Silverstein’s public persona, as quoted in a Real Read More
The developer met with Port Authority officials today and gave a news conference later, saying he agreed to give up the Freedom Tower–after building it for a fee–and Tower 5. He said he was hewing closely to the joint state-city-Port Authority offer last week, but he added some conditions…like getting the Port Authority to ratify Read More
We’ve been spending too much time at Trader Joe’s today to purloin a copy of Larry Silverstein’s new offer to the Port Authority, but we can tell you it is “different” from the one he left on the table Tuesday night. Let’s assume it is more beneficial to the government owners of the Read More
Larry Silverstein gave his response to this morning’s Port Authority news conference, maintaining a mixture of befuddlement and reproach towards the breakdown of last night’s talks over rebuilding the World Trade Center.
“Nothing we had proposed was a departure from what has been discussed previously,” he said at his own presser in the Jenny Read More
The Port Authority leased the twin towers to Larry Silverstein back in July 2001 in order to get out of the real estate business. Now Mayor Bloomberg wants it to get back in.
For several weeks now, the Mayor has been proposing that Silverstein give the rights to develop Towers 3 & 4 along Read More
Bloomberg, in his State of the City Address today, nudged Silverstein to negotiate with the Port Authority to give up Towers 3 & 4 at Ground Zero in exchange for lower rent, and added, “We cannot allow the Trade Center to be a construction site for the next 15 years, which the current plan all Read More