Located at 200 Greenwich St. in Lower Manhattan, American Express’ new headquarters will span nearly 2 million square feet, occupying a site owned by the Port Authority of New York and New Jersey under a ground lease with developer Silverstein Properties. — Renderings courtesy: American Express
By Joshua Burd
A site owned by the Port Authority of New York and New Jersey will become American Express’ new home in Lower Manhattan, where plans call for a nearly 2 million-square-foot tower that will mark the last office building at the rebuilt World Trade Center campus.
According to details announced Wednesday, Silverstein Properties will build the 55-story property at 2 World Trade Center. The credit card giant will be the sole occupant of the new building, which is being designed by Foster + Partners, with groundbreaking slated for this spring and completion slated for 2031.
The JLL capital markets team led by Senior Managing Director Drew Isaacson and Savills capital markets team led by Vice Chairman David Heller acted as advisers to the Port Authority on the ground lease agreement that will enable the development. Cushman & Wakefield’s Peyton Horn, Dale Schlather, Lou D’Avanzo and Kyle Ernest led the team that advised American Express on the development and ground lease transactions.
“This is an investment in our company’s future, our colleagues and the Lower Manhattan community, reaffirming our deep commitment to the neighborhood we’ve called home for nearly two centuries,” American Express CEO Stephen J. Squeri said. “Our new headquarters will be more than just a building — it will be a place for our colleagues to feel energized, inspired and proud — a home for innovation, interaction and growth. We’re excited to work with our partners and local leaders to shape this exciting new era for American Express and Lower Manhattan.”
Located at 200 Greenwich St., the project represents a major milestone in the continued buildout of the 16-acre World Trade Center campus and reinforces Lower Manhattan as a hub for commerce, tourism, transit, culture and community, according to a news release. Officials expect the development to create more than 2,000 union construction jobs and 3,200 total jobs in New York City, with an estimated contribution of some $5.9 billion to the city’s economy and $6.3 billion to the New York State economy overall.
When complete, the building will have capacity to host up to 10,000 colleagues across flexible and modern workspaces and more than an acre of outdoor space with several greenery-filled terraces and gardens and sweeping views of the Manhattan skyline, the news release said. The project will also pursue certification on the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale, with plans calling for advanced smart-building technology and fully electric, energy-efficient systems.
“Moving forward with the final commercial office building at the World Trade Center marks an important milestone for this campus and for the region,” said Kevin O’Toole, the Port Authority’s chairman. “2 World Trade Center strengthens one of the country’s most significant centers of commerce and transportation and reflects the sustained focus required to advance projects of this scale.”
Silverstein Properties CEO Lisa Silverstein added: “American Express’ investment to build its new headquarters in this landmark location is a powerful statement about the future of Lower Manhattan. I can’t imagine a better partner to complete the World Trade Center campus than American Express, an iconic institution embodying the strength, resilience and global significance of the project.”
American Express moved to its current headquarters at 200 Vesey St. in 1986 and has made significant investments over the decades to support its New York-based colleagues, the neighborhood’s economic vibrancy and the local community, the news release said.
“The evidence keeps building: There is no better state than New York to do business, and from flagship corporations to small businesses, we are seeing employers plant their flag in our state for generations to come,” New York Gov. Kathy Hochul said. “Building 2 World Trade Center will bring another iconic skyscraper to Lower Manhattan, create thousands of good-paying union jobs, and provide billions in economic benefits to New Yorkers. Thank you to American Express for doubling down on your commitment to New York and to partners at the Port Authority for getting this deal done.”
New York City Mayor Zohran Kwame Mamdani added: “The completion of the final commercial tower at the World Trade Center is more than an investment — it’s a testament to the power of union labor and the dignity of work. This project represents thousands of good, union jobs that sustain families and strengthen our communities. When we invest in New York, we must ensure that investment flows to working people — to the carpenters, electricians, and laborers who quite literally build this city. That’s how we grow our skyline and our economy at the same time: by putting working New Yorkers first.”
