Nobody personifies New York real estate like Larry Silverstein, founder and owner of Silverstein Properties. Join UJA’s Young Real Estate (REX) Division as the industry legend kicks off our new REX Speaker Series. In a moderated conversation with immediate past REX Chair Mitchell Moinian, Larry will share his insight into what the future may hold for the city’s once-booming commercial real estate industry.
You’ll also discover how UJA is working to make a better and more equal future for all.
Larry A. Silverstein is the chairman of Silverstein Properties, Inc., a Manhattan-based real estate development and investment firm that has developed, owned, and managed 40 million square feet of office, residential, hotel, and retail space. The firm currently has $10 billion worth of development activity underway and has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for eight years in a row.
In July 2001, Mr. Silverstein completed the largest real estate transaction in New York history when he signed a 99-year lease on the 10.6 million square foot World Trade Center for $3.25 billion, only to see it destroyed in terrorist attacks six weeks later on September 11, 2001. He has spent the last 19 years rebuilding the office component of the World Trade Center site, a $30 billion project. In May 2006, Silverstein Properties opened 7 World Trade Center, the first office tower to be rebuilt at the site, and the first LEED-certified office building in New York City.
Mr. Silverstein owns and manages many successful and high-profile commercial and residential properties in New York City, including 120 Broadway, 120 Wall Street, 529 Fifth Avenue and 1177 Avenue of the Americas. Mr. Silverstein is a member of the New York Bar and a governor of the Real Estate Board of New York, having served as its chairman. He has served as chairman of the Realty Foundation of New York.
A 1952 graduate of New York University, Mr. Silverstein served as vice chairman of the NYU Board of Trustees, where he continues to serve as member of the Board of Trustees of the New York University Langone Medical Center. He is the founder and chairman emeritus of the advisory board of the NYU Real Estate Institute. As a professor of real estate, his “Silverstein Workshop” became one of the most attended and informative educational sources for learning real estate development and investment analysis.
Mr. Silverstein donates his time and resources to support many philanthropic endeavors, including organizations dedicated to higher education, medical research and humanitarian needs, and the arts. He has served as chairman of the Board of UJA-Federation. He is a founding trustee of the Museum of Jewish Heritage in New York and has served as treasurer of National Jewish Health in Denver.
Mr. Silverstein currently serves as a board member of the New York Philharmonic. Larry and Klara Silverstein have been married for 62 years and have three children and one son-in-law, three of whom are executives at Silverstein Properties. They also have eight grandchildren.
Prior to his role at The Moinian Group, Mitchell Moinian served as a commercial leasing associate at the privately held commercial real estate firm, Cushman & Wakefield, while simultaneously pursuing his undergraduate degree in economics & urban studies at New York University. During his time at Cushman & Wakefield, Mitchell executed an array of real estate transactions, including Class A building representation, tenant representation in office and retail, and several off-market transactions in the hospitality sector.
In January 2013, Mitchell left Cushman & Wakefield to join The Moinian Group. Founded over 35 years ago by Joseph Moinian, The Moinian Group is one of the country’s largest and most active property owners and developers in major cities across the United States.
Relating to commercial development, Mitchell is primarily focused on the iconic 2mm square foot office tower at 3 Hudson Boulevard. On the new development side of the portfolio, Mitchell is overseeing the development of several projects including The Hudson Arts Building located at 220 11th Avenue, as well as Oskar, a 14-story, 164-residence property at 572 11th Avenue. Mitchell also played a leading role in the development and lease up of The Moinian Group’s 1,174-unit luxury rental building, Sky, at 605 West 42nd Street. In addition to new developments, Mitchell has incubated Currency M, the venture investment arm for the company, as well Moinian Capital Partners, the company’s structured finance platform.
Mitchell was born and raised in New York City. Mitchell served as UJA’s immediate past REX Chair. He will be honored at the upcoming REX Gala with the Larry A. Silverstein REX Award. He is a proud member of the Real Estate Board of New York and the Stefan for Life Foundation. He is also a former chair of the Jewish National Fund.
Joe Koicim, Chair
Adam Rosenberg, Vice Chair