Burger had been CEO of Silverstein Properties since 2014. He was hired in 2009 as an executive vice president and was named co-CEO with Larry Silverstein in 2011. However, in recent years, he had clashed with some family members about expanding the firm's portfolio, which he wanted to focus on, rather than prioritizing its existing properties, according to The Wall Street Journal, which first reported the news.
"I wouldn't say I'm a visionary like Larry Silverstein or [Related Cos. Chairman] Steve Ross," Burger told Crain's at the time of his elevation to CEO. "But I have done a lot of deals that have worked out, and hopefully they'll continue to work out."
Silverstein Properties is one of the more storied landlords in the city and is likely best known for redeveloping the World Trade Center after the 9/11 attacks. The firm is one of many vying for a downstate casino license, with a proposal for a two-tower complex near the Javits Center on the Far West Side.
It recently partnered with Metro Loft Management to purchase 55 Broad St. downtown for about $173 million with plans to convert the office building into a 571-unit residential property.
Silverstein and Metro Loft purchased 55 Broad from the Rudin family, which just announced its own succession plan. Bill Rudin, the current CEO, will have his son and daughter Michael Rudin and Samantha Rudin Earls take over as co-CEOs next year.
