World Trade Center developer Larry Silverstein sells Upper East Side apartment at a loss

January 17, 2019

He may have hit it big at the World Trade Center redevelopment, but super-developer Larry Silverstein lost nearly $5 million on the sale of his long-time Park Avenue apartment. He first put the residence at 500 Park Avenue on the market for $13.9 million a little over a year ago, not long after he and his wife Klara bought a $34 million penthouse at Silverstein Properties’ own development 30 Park Place, which overlooks the WTC site. The Silversteins have now sold the Upper East Side home, according to the Post, but for only $9.3 million.

500 Park is between 58th and 59th Streets and has 360-degree views of the skyline and Central Park. The Silverstein’s former unit takes up the entire 37th floor and spans 4,653 square feet with five bedrooms and five bathrooms. The couple, who have been married for 63 years, moved from White Plains and bought the apartment 34 years ago after their children left for college. They then enlisted architect James Stewart Polshek (who’s best known for designing the Museum of Natural History’s class-cube Rose Center for Earth and Space) to redo the space.

Other perks of the apartment include a private elevator vestibule with sleek marble floors, a wood-paneled library, and a massive living room with nearly floor-to-ceiling windows on three sides.

Down at Park Place, the Silversteins have moved up to the 80th floor. In addition to majorly decreasing his commute, Silverstein has said that the building is his family’s “own compound up in the sky” since his daughter Lisa and her family also moved in on a lower floor.

[Listing: 500 Park Avenue, Apt. 37 by Meredith Verona and Betsy Messerschmitt of the Corcoran Group]

[Via NYP]


All images courtesy of the Corcoran Group

Get Insider Updates with Our Newsletter!

Leave a reply

Your email address will not be published.

Your email address will not be published. Required fields are marked *