Silverstein Properties, Inc. (SPI) is a privately-held, full-service real estate development, investment and management firm based in New York. Founded in 1957 by President and CEO Larry Silverstein, SPI has developed, owned, and managed more than 35 million square feet of office, residential, hotel, and retail properties in the United States.
Currently, the firm has $10 billion of development underway: Four Seasons Resort at Walt Disney World, Four Seasons Downtown New York Hotel and Private Luxury Residences and World Trade Center Towers 2, 3 and 4 in New York. In addition, SPI is focused on joint ventures for development and acquisitions in Europe, Asia and the Middle East.
The company is known for developing first-class projects, repositioning older buildings, and providing first-rate services that enhance value for investors and quality of life for tenants. SPI's properties are thriving, highly regarded places that sustain their appeal and profitability over time. As a result, current occupancy levels are well above industry benchmarks for the firm's commercial and residential portfolio, which includes 9 million square feet of office, residential and retail properties in Midtown and Downtown Manhattan.
SPI has partnered with world-class architects and contractors, and has become known as one of the premier property and facility management firms in New York. Financial and development partners are leading national and international institutions, such as Four Seasons Hotels and Resorts and the California State Teachers' Retirement System.
In 2010, SPI established a joint venture with Kulczyk Real Estate Holding (KREH) known as Kulczyk Silverstein Properties (KSP). KSP develops and acquires office, retail and mixed-use properties throughout Central and Eastern Europe. KSP acquired its first property, Stratos Office Center, a Class A office building located in the Central Business District of Warsaw in 2011.
Throughout SPI's history, it has developed, acquired and renovated some of New York City's and the United States' most successful and high profile properties, including the Americas Tower at 1177 Avenue of the Americas; Times Square Embassy Suites; Ronald Reagan Building and International Trade Center; Silver Towers and River Place, one of the largest rental complexes in Manhattan, and most notably, the World Trade Center.
From completing the largest real estate transaction in New York City's history for the lease on the World Trade Center to opening 7 World Trade Center, New York City's first LEED-certified office tower, Silverstein Properties has been regarded as one of the nation's most respected real estate firms. SPI, its executives and its properties have been recognized with many awards for excellence and achievement in ownership, design and management. For the past few years, SPI has been named one of the "Best Places to Work in New York City" by Crain's New York Business.