Larry Silverstein News
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Developer Larry Silverstein said he plans to start building an 82-story hotel-and-condominium tower a block north of the World Trade Center site in lower Manhattan late this year, after getting a $660 million loan.
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Larry Silverstein, after more than five decades of investing almost entirely in New York City real estate, is making his first foray abroad in Poland, one of Europe’s most in-demand property markets.
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World Trade Center Properties LLC asked a federal judge to rule in its favor and reject a defense asserted by AMR Corp.’s American Airlines that it was the victim of an “act of war” in the Sept. 11, 2001, terrorist attacks.
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Larry Silverstein, developer of officer towers at Manhattan’s World Trade Center site, named Martin Burger co-chief executive officer of his real estate company as its investments expand beyond its New York base.
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Martin Burger is in line to succeed Larry Silverstein, the World Trade Center developer, as the head of his company, Silverstein said on Bloomberg Television.
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Larry Silverstein has formal proposals from two potential tenants for 3 World Trade Center, which if accepted would allow the developer to build the skyscraper to its full 80 stories, two people with knowledge of the negotiations said.
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Office rents in the new towers at lower Manhattan’s World Trade Center will rise to levels “very close” to those for high-quality spaces in Midtown, said Larry Silverstein, who is building one of the skyscrapers.
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Larry Silverstein is in discussions to cap 3 World Trade Center at seven floors if tenants aren’t found to take enough space for the building’s planned 80 stories, said two people familiar with the talks.
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Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, agreed to acquire Plains Exploration & Production Co. and McMoRan Exploration Co. for about $9 billion as the company returns to its roots in energy.
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A partnership that includes New York developer Larry Silverstein agreed to sell 575 Lexington Ave., a midtown Manhattan office tower that had been threatened with foreclosure, to Normandy Real Estate Partners LLC and New York Life Insurance Co., said two people with knowledge of the deal.
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