12: Owner-Developer of the World Trade Center, Larry Silverstein

Join Ben Miller, CEO of Fundrise, for a conversation with a very special guest on this episode of Onward: Larry Silverstein is the founder and chairman of Silverstein Properties, the owner-developer of the World Trade Center, along with a remarkable portfolio of other major properties that have defined New York City life and the Manhattan skyline for decades. 

The interview gives us a tour of both Mr. Silverstein’s life and the history of New York, as he recounts his experience investing in a number of influential New York properties. Each acquisition also highlights a different stage in financial history, showcasing a defining moment in the country’s and New York’s economic cycles.

As Mr. Silverstein tells the story behind the acquisition of each piece of real estate, he imparts investing insights that remain critical to investors today. Those experiences include making the decision to invest during a struggling market — such as when he bought 711 5th Ave., in a declining New York — or the challenges of leasing a million square feet of commercial space — such as when he developed 7 WTC. Ultimately, when Ben asks what advice Mr. Silverstein has for investors today, he recommends, “whatever you do, think long-term” and to invest “in quality.” 

Have questions or feedback about this episode? Drop us a note at [email protected].

Onward is hosted by Ben Miller, co-founder and CEO of Fundrise, and Cardiff Garcia, co-founder of Bazaar Audio and host of the economics-focused podcast The New Bazaar (after spending many years as the co-creator and co-host of NPR's The Indicator podcast).

Podcast production by The Podcast Consultant. Music by Seaplane Armada.

About Fundrise
With over 1 million users, Fundrise is America's largest direct-to-investor alternative asset investment platform. Since 2012, our mission has been to build a better financial system by empowering the individual. We make it easier and more efficient than ever for anyone to invest in institutional-quality private alternative assets — all at the touch of a button.  

Please see the Fundrise Flagship Real Estate Fund website (http://fundriseintervalfund.com), Fundrise Income Fund website (http://fundriseincomerealestatefund.com), and Fundrise Innovation Fund website (http://fundrise.com/innovation) for more information on each fund, including each fund’s prospectus.  For the publicly filed offering circulars of the Fundrise eREITs and eFunds, not all of which may be currently qualified by the SEC, please see fundrise.com/oc.

Want to see the specific properties that make up and power Fundrise portfolios? Check out our active and past projects at www.fundrise.com/assets.