Developer in Contract to Buy Six Parcels on Three Blocks in Astoria

From Wikipedia:

Silverstein was born in Brooklyn, and became involved in real estate, together with his father, establishing Silverstein Properties. Silverstein separated from his business partner, Bernard Mendik, in 1977, and bought a number of large office buildings in Midtown and Lower Manhattan in the late 1970s. In 1980, Silverstein won a bid from the Port Authority of New York and New Jersey to construct 7 World Trade Center, to the north of the World Trade Center site. Silverstein was interested in acquiring the entire World Trade Center complex, and put in a bid when the Port Authority put it up for lease in 2000. Silverstein won the bid when a deal between the initial winner and the Port Authority fell through, and he signed the lease on July 24, 2001.

Soon after the September 11 attacks, in 2001, Silverstein declared his intent to rebuild, though he and his insurers became embroiled in a multi-year dispute over whether the attacks had constituted one event or two under the terms of the insurance policy, which provided for a maximum of $3.55 billion coverage per event.[2] A settlement was reached in 2007, with insurers agreeing to pay out $4.55 billion,[3][4] which was not as much as Silverstein had sought. Silverstein also ran into multiple disputes with other parties in the rebuilding effort, including with the Port Authority. In an agreement reached in April 2006, Silverstein retained rights to build three office towers (150 Greenwich Street, 175 Greenwich Street, and 200 Greenwich Street), while One World Trade Center (previously referred to as the “Freedom Tower”) would be owned by the Port Authority, as would Tower Five, which it would have the option of leasing to a different private developer and having redesigned as a residential building.[5]
Early life and education

Silverstein was born in Bedford-Stuyvesant, in Brooklyn in 1931 into a Jewish family.[6] Growing up, Silverstein enjoyed classical music and played the piano. He attended the High School of Music and Art in New York, and then New York University, graduating in 1952. During college, Silverstein worked at a summer camp, where he met his wife, Klara. The couple married in 1956, and had three children: Lisa, Roger and Sharon. His wife worked as a school teacher, supporting the family on her salary for the first few years of their marriage while Silverstein attended classes at Brooklyn Law School.[7]

Silverstein became involved in real estate, together with his father, Harry G. Silverstein, and then friend and brother-in-law, Bernard H. Mendik. In 1957, they established Silverstein Properties, as Harry G. Silverstein & Sons, and bought their first building, in Manhattan. Mendik and Silverstein continued the business after the elder Silverstein’s death in 1966. In 1977, Mendik divorced Annette Silverstein Mendik, with the business partnership also splitting up at that time.[8] Mendik also cited disagreements over real estate strategies, with Mendik wanting to buy buildings while Silverstein wanted to build.[9]
Career

After splitting with Mendik, both remained involved in the real-estate industry, but in separate firms. By 1978, Silverstein owned five buildings on Fifth Avenue, as well as 44 Wall Street, and a shopping center in Stamford, Connecticut. In 1980, he renovated the building at 11 West 42nd Street, and acquired the lease for the Equitable Building at 120 Broadway.[8] In 1983, Silverstein sold the building at 711 Fifth Avenue to Coca-Cola for $57.6 million.

Also in 1980, Silverstein bought the building at 120 Wall Street, which was constructed in 1930.[10] In 1991, Silverstein set aside 20 floors of 120 Wall Street to be leased by non-profit organizations, as an Association Center, with tax incentives for the tenants and bonds for Silverstein to undertake building renovations.[11][12] By 1994, Silverstein had signed up 14 nonprofit tenants for 120 Wall Street,[13] and the building was nearly at capacity by 1997, with 38 nonprofit tenants including the National Urban League and the Illuminating Engineering Society of North America.[14]

Read the rest yourself:
https://en.m.wikipedia.org/wiki/Larry_Silverstein

A nice person who HELPS!!! Greedy realtor trying to destroy Astoria for profit HATE Silverstein cause He want to rebuild and help tenants as opposed to destroy and make poor people not afford their homes like his ex brother in law. Greedy hipsters please understand you will one day too be old and not be able to afford what you now think is the norm. Don’t hate a kind older gentleman who has lived the ups and downs through his generation and helps society as a whole while also making a profit to support the scholarships he probably has given you! Talk about biting the hand that feeds you! Shame on all you NYU and Hunter Collage Grads!
Learn don’t sneer! You just sound like a whiny child with alopecia..
Now children who are pouting, hit the thumbs down button!

From his website:
June 13, 2018
Silverstein signs the ground lease for a massive Astoria dairy plant site
Silverstein signs the ground lease for a massive Astoria dairy plant site

Silverstein Properties acquires the ground lease on a seven-parcel Astoria development site in what marks its first major outer-borough expansion.

© 2018 Silverstein Properties, Inc
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From that seems like he’s going to create jobs for the dairy plant he’s building! Better than Amazon! Dairy = Milk, Ice Cream, Butter, etc. Smart move! Healthy & Profitable! Healthy for the body and the wallet! People need dairy and their will always be a market for ice cream and dairy products and while creating him profit he creates us jobs!
He said on his website that it was bought for a dairy plant! Why is everyone guessing instead of reading his site of realty history! ????
Thank you Mr. Silverstein for bringing families in Astoria something that will bring more jobs to our community while keeping us healthy. God Bless if you ever read this!?