American Express has confirmed that it will relocate its global headquarters to 2 World Trade Center at 200 Greenwich St. in Lower Manhattan, where it will become the sole owner and occupant of a new office tower to be developed by Silverstein Properties. The planned building is described as a nearly two-million-square-foot, 55-story property and will serve as the final major component of the World Trade Center campus.
The tower will rise on land owned by the Port Authority of New York and New Jersey, with the development proceeding under a long-term ground lease structure. Construction is scheduled to begin this spring, with completion targeted for 2031. Until the new headquarters is delivered, American Express will continue to occupy its current offices at 200 Vesey St., located nearby in Lower Manhattan.
Stephen J. Squeri, chairman and CEO of American Express, characterized the move as a long-term commitment to both the company and the surrounding community, noting that the firm has been based in the neighborhood for nearly two centuries. He framed the headquarters relocation as an investment in American Express’ future and in the continued vitality of Lower Manhattan.
Silverstein Properties CEO Lisa Silverstein said American Express’ decision to build its new headquarters at 2 World Trade Center underscores the ongoing importance of the site and sends a message about the future of the Lower Manhattan office market. She described American Express as a fitting partner to help complete the World Trade Center campus, citing the company’s global profile and association with resilience and strength at a location with international significance.
The project is expected to generate more than 3,200 direct and indirect construction jobs as work progresses on the tower. Carlo A. Scissura, president and CEO of the New York Building Congress, linked the announcement to a broader trend of major financial institutions reinforcing their presence in New York, noting that another global financial firm made a similar headquarters commitment in the city in the prior year.
American Express is being advised on its agreement with Silverstein Properties and the Port Authority by law firm Fried Frank. The Fried Frank team is led by Jonathan Mechanic, chairman of the firm’s real estate department, with real estate partners Cyril Touchard and Tal Golomb, tax partner Richard Wolfe, real estate special counsel Melissa Brown and real estate associate Elliot Fuchs all involved in the engagement. A rendering of the planned headquarters tower was provided by architecture firm Foster + Partners.
