Analyses on Silverstein (6)
- May 28, 2026May 28, 2026
- Follow-up
MB After Capitalization Stops: Land Carrying Costs Now Hit Profit
MB has moved from an option waiting for a development path to an asset whose waiting period is already hurting earnings: the IAS 23 capitalization stop moves costs into profit and loss while real-estate inventory remains at $134.0 million.
Silverstein Properties in the First Quarter: NOI Improves, 2026 Maturity Still Needs Funding
The first quarter confirms that Silverstein's assets are still working, but it does not solve the issuer-level bottleneck. NOI and consolidated operating cash flow improved, while solo cash remained low against the December 2026 Series B maturity and MB started moving into curre…
- March 29, 2026March 29, 2026
- Follow-up
After the Casino Setback: What Really Remains in MB
After the casino route failed, MB still retains real estate optionality but no closed execution path. The $28.5 million one-off income came from recognizing forfeited advances, while the $12.9 million inventory write-down shows that the land itself still has not secured fresh ec…
- Follow-up
Consolidated Cash vs. Solo Cash: What Silverstein's Real Debt Map Looks Like Into 2026
Silverstein's real bottleneck sits at issuer cash rather than consolidated cash: year-end 2025 showed $189.1 million of consolidated cash but only $4.605 million of solo cash against $98.7 million of Series B principal due on December 31, 2026 and nearly the same amount again on…
- Follow-up
7 World Trade Center After Moody's: How Much of the Value Still Rests on Re-Leasing and the Ground-Lease Reset
The 7 World Trade Center leasehold value already assumes Moody's fully vacates in November 2027, but even after the move to $1.26 billion it still depends on four unproven links: re-leasing nearly half the building within 18 months, absorbing the ground-rent reset, preserving th…
Silverstein Properties 2025: Residential Holds the Floor, but the Real Test Still Sits at 7 World Trade Center
Silverstein ended 2025 with better reported numbers, but the core thesis did not change: residential stabilizes the platform, while value realization and liquidity still depend on issuer-level refinancing and credible re-leasing at 7 World Trade Center.
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