Company Profile

Company History

KEY DATES

1957 Harry Silverstein and his son, Larry Silverstein, buy their first property, a Manhattan industrial loft building on East 23rd Street. 
1978 SPI's portfolio contains four million square feet of commercial space, including 521, 529, 530, 689, and 711 Fifth Avenue, 44 Wall Street, and a shopping center in Stamford, Connecticut.
1980 Completes a $25 million renovation of the 33-story office building at 11 West 42nd Street, in collaboration with Tishman Speyer Properties, including installation of a co-generation system, the first ever in a Manhattan office tower.
  Acquires 120 Wall Street and 120 Broadway and remodel them extensively.
1984 Acquires the full block site on far West 42nd Street, later to be developed into residential towers.
1986   Completes the 47-story Seven World Trade Center.
1989 Controls 13 buildings with ten million square feet of space.
  Completes A&S Plaza on 33rd Street.
  Develops 43-story Embassy Suites hotel in Times Square.
1991 Sets aside 20 stories of the 34-floor office building at 120 Wall Street as tax-free headquarters for nonprofit groups that might otherwise leave the city.
1998 Completes development of the Ronald Reagan Building in Washington, DC, the largest privately developed office building in the US.
  Acquires the 52-story office building at 140 Broadway for $191 million.
2000 Completes River Place I, the first tower of the 42nd Street residential project.
2001 Completes the largest real estate transaction in New York history by acquiring the World Trade Center for $3.2 billion, only to have it destroyed six weeks later in the terrorist attacks of 9/11.
2002 Construction begins on 7 World Trade Center.
2003 Selects David Childs to design the Freedom Tower, the tallest of the five new WTC office towers.
2006 Opens 7 World Trade Center, the first LEED-certified office building in NYC.
  Begins construction on the Freedom Tower.  
  Establishes joint venture partnership with CalSTRS to develop and acquire up to $2 billion in NYC. 
  Reaches agreement on final rebuilding plan for the WTC with Port Authority, NYS, NYC and LMDC.  
  Unveils designs for WTC Towers 2, 3 and 4. 
2007 Begins construction on Silver Towers.
2008 Announces the partnership with Four Seasons to develop Downtown's first five-star hotel.
  Begins construction on WTC Towers, Tower 3 (175 Greenwich Street) and Tower 4 (150 Greenwich Street) and Four Seasons Hotel and Residences Downtown.