Early Life and Education
Larry Silverstein was born in Brooklyn, New York, in 1931. He came from a Jewish family. He attended the High School of Music and Art and graduated from New York University in 1952. He also took classes at Brooklyn Law School.
Rise to Success
Silverstein began his career in real estate with his father, a leasing broker, and later with his friend and brother-in-law, Bernard Mendik, establishing Silverstein Properties in 1957. His early career involved buying and renovating properties. In 1980, he won the bid to construct 7 World Trade Center. A pivotal moment came in July 2001 when he signed a 99-year lease for the World Trade Center towers for $3.2 billion.
Key Business Strategies
Silverstein's success can be attributed to his ability to identify opportunities, acquire properties strategically, and rebuild and re-position commercial properties. A critical element of his strategy has been a focus on long-term investment and commitment to quality. Silverstein Properties' strategy includes developing first-class projects and providing first-rate services, which enhance value for investors and quality of life for tenants.
Philanthropy
Silverstein has been involved in philanthropy. He is the founder and chairman emeritus of the NYU Real Estate Institute. He has also served as chairman of the United Jewish Appeal in New York, a founding trustee of the Museum of Jewish Heritage, and a trustee of the New York University Medical Center and Health System. He created a scholarship fund for NYU’s medical school, and donated to his wife's alma mater, Hunter College, to create the Klara and Larry Silverstein Student Success Center.