Martin Burger Is ‘Our Succession Plan,’ Developer Larry Silverstein Says
Martin Burger is in line to succeed Larry Silverstein, the World Trade Center developer, as the head of his company, Silverstein said on Bloomberg Television.
“Clearly he’s our succession plan, as we go forward,” the developer said in an interview on “Street Smart,” which aired today. “I don’t expect to change anything in my life. I’m going to continue to do what I do as long as I can do it, and hopefully that will be for a while.”
Burger, 46, who spent 15 years at Stephen Ross’s Related Cos., where he oversaw the financing of New York’s Time Warner Center, was named co-chief executive officer of Silverstein Properties Inc. last month. He’s in charge of acquisitions and business development in the U.S. and abroad, including an effort to develop properties in China, the company said on its website.
The firm hadn’t named a possible successor until Burger was promoted. Silverstein, 80, will remain in charge of the building of three skyscrapers at the trade center site in lower Manhattan, along with Janno Lieber, president of the company’s World Trade Center Properties subsidiary, according to a December statement.
Four World Trade Center, the 72-story tower Silverstein is developing, may be completed before 1 World Trade Center, the 104-story skyscraper being built by the Port Authority of New York and New Jersey, the 16-acre (6.5-hectare) site’s landlord, Silverstein said. Four World Trade will “probably” be ready next year, with the Port Authority’s tower finished soon after, he said.
The entire project, which includes two more towers that still must be financed, should be complete by 2016, Silverstein said. Bases for 2 and 3 World Trade Center are under construction.
Silverstein said he expects to stay involved in the company he founded more than five decades ago, in part to help his home life.
“My wife of 55 years made clear to me that she married for better or for worse, but not for lunch,” he said. “So therefore, I’m going to continue to work.”
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