Silverstein Properties, the company pivotal in the redevelopment of Lower Manhattan’s World Trade Center complex following the September 11 attacks, has announced that it will no longer cooperate with CEO Marty Burger, a long-time member of the leadership team.
Taking over as the new CEO will be Lisa Silverstein, the daughter of Chairman and founder Larry Silverstein. Lisa Silverstein, who is also the vice chairman, according to the company’s website, has worked alongside her father for over 25 years, contributing to various aspects from acquisitions to new developments.
Marty Burger, who initially joined Silverstein Properties in 2009, served as co-CEO with Larry Silverstein starting in 2011 before taking on the sole CEO role in 2014.
In addition to its role in developing 3 World Trade Center, 4 World Trade Center, and 7 World Trade Center, Silverstein Properties is planning to construct a mixed-use residential tower with approximately 1,200 apartments at 5 World Trade Center, which is the only building within the World Trade Center complex designed for housing units. The company also has intentions to build a 2.8-million-square-foot office tower at 2 World Trade Center.
Founded in 1957 by Larry Silverstein, the company has been involved in the development, ownership, and management of more than 40 million square feet of office, residential, hotel, retail, and mixed-use properties. It currently owns and operates properties valued at over $10 billion, including nearly 16 million square feet of commercial, residential, and retail space spread across ten office towers in Manhattan, Philadelphia, and Los Angeles, a 443-unit luxury hotel in Orlando, Florida, and two luxury rental buildings in midtown Manhattan. The company also has 9 million square feet of development projects in progress.
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