9/11 Lucky Larry Silverstein - Bldg 7 leaseholder - interview
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78 views • 09/11/2024

9/11 Lucky Larry Silverstein interview.

Every single morning Larry Silverstein ate breakfast in North Tower on the 91st floor. But not on 9/11, his wife made him an emergency doctors appointment that day. 

He also had bought an insurance plan that 'fortunately' covered terrorism. After the attack, he took the insurance company to court. Silverstein won & was paid double, being awarded a total of $4.55B. 

The Port Authority of New York and New Jersey, had wanted to demolish these buildings for years but could not as the buildings were loaded with asbestos that would have cost millions to remove.
Jan 2001, Silverstein made a $3.2 billion bid to lease-purchase the World Trade Center. Silverstein's bid was finalized on July 24, 2001, less than 2 months prior to 9/11. Larry Silverstein agreed to pay the equivalent of $3.2 billion over the next 99 years.

The lease agreement applied to One, Two, Four, and Five World Trade Center, and about 425,000 square feet of retail space. Silverstein put up just $14 million of his own money to secure the deal. The agreement gave Silverstein, as leaseholder, the right and the obligation to rebuild the structures if destroyed.  

The insurance policies for World Trade Center buildings WTC 1. 2, 4 and 5 had a collective face amount of $3.55 billion and the insurance policy he took out included protection against terrorist attacks.


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