Silverstein will discuss the progress of the World Trade Center Development, and the status of the disputes that continue to dog the project. Looking to the larger picture, he will also discuss the WTC development's impact on the Manhattan office, residential and retail markets, as well as changing tenant needs.
A 50-year veteran of New York commercial real estate, Silverstein has been involved with the WTC since 1980, when he won a bid to develop 7 World Trade Center on the last undeveloped parcel of land there. In July 2001, he purchased the 99-year lease on the Twin Towers, only to see them destroyed less than two months later on 9/11. Since then, Silverstein has been on a mission to rebuild at what is now popularly known as Ground Zero, and he has three office towers under development at the site.
However, SPI's reach extends beyond the WTC. Along with the rebuilt 7 World Trade, which opened in 2006 as the city's first LEED Gold-certified office tower, the company owns and manages millions of square feet of office space in Midtown and Downtown. Its Midtown office holdings include 529 Fifth Ave., 570 Seventh Ave., 575 Lexington Ave. and 1177 Ave. of the Americas; Downtown, SPI owns 120 Broadway and 120 Wall St.
Silverstein was among the first to envision the potential of Manhattan's Far West Side as a residential and commercial neighborhood, acquiring a square block from West 41st to West 42nd Street between Eleventh and Twelfth avenues in 1984. He opened the 40-story 1 River Place luxury apartment building in 2000 and is completing two 60-story residential properties that will comprise the adjacent Silver Towers at River Place.
In 2008, Silverstein announced plans for the Four Seasons Hotel & Residences at 30 Park Pl., which will include a 186-room hotel and 143 luxury condominium units on the upper floors. Topping out is expected to take place next year.
Among the other highlights planned for Wednesday's RealShare New York are the annual "Town Hall" gathering, this time focusing on the outlook for leasing, development and investment one year after the turmoil on Wall Street; a Power Panel of local commercial real estate legends; an owners' panel; and sessions on refinancing and investing in distress.
For more information, contact conference producer Colleen McShane at (213) 430-0304 or [email protected] .
To visit the RealShare New York conference page: CLICK HERE.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
