Global financial services giant American Express plans to relocate its global headquarters to 2 World Trade Center in Lower Manhattan, becoming the key that enables completion of the final office tower at the 16-acre World Trade Center complex.
American Express said Wednesday it will build and become the sole owner and occupant of the 55-story, 1,226-foot-tall tower spanning nearly 2 million square feet at 200 Greenwich St. The planned property could accommodate up to 10,000 employees. Its signature feature: more than an acre of outdoor space, including several terraces and gardens with sweeping views of the New York skyline.
Silverstein Properties, the firm founded by developer Larry Silverstein, who led the rebuilding of Lower Manhattan after the Sept. 11, 2001, terrorist attacks, will develop the property just north of the Oculus shopping center and transit hub. Foster + Partners is the design architect for the project.
The fully electric building will be developed on land owned by the bi-state Port Authority of New York and New Jersey under a long-term ground lease. Construction is set to begin this spring, with American Express expecting to move in by 2031.
American Express will remain at its current home nearby at 200 Vesey St. until the new tower is completed. American Express owns and occupies more than half of 200 Vesey, a company spokeswoman told CoStar News, declining to specify. Brookfield owns the remainder of the building, which CoStar data shows was built in 1986.
The spokeswoman declined to specify the expected project cost for 2 World Trade Center and said the company will provide updates on its plans for 200 Vesey after the new tower opens.
American Express said the project isn’t expected to have a material impact on its financial results. The development is expected to create more than 2,000 union construction jobs and 3,200 total jobs in New York over the course of the project, with an estimated contribution of about $5.9 billion to the city’s economy, according to the company.
“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 Chairman and Chief Executive Stephen 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.”
Final piece of the puzzle
American Express’ deal completes what Silverstein has long described as the final piece of the puzzle for the World Trade Center complex, which includes 7 World Trade Center, 3 World Trade Center and 4 World Trade Center, all developed by his namesake firm. Silverstein, 94, has said he was working to secure financing for 2 World Trade Center, the last office tower planned for the campus. He previously said the tower will be “the most sustainable and energy efficient building” in the United States, if not in the world.
Silverstein Properties has also partnered with Brookfield Properties on building 5 World Trade Center, the complex’s only mixed-use residential building. Other components of the campus include One World Trade Center, New York's tallest building and developed by the Port Authority and The Durst Organization, and Perelman Performing Arts Center, which opened in 2023.
At a 2024 press event tied to the release of his memoir, Silverstein said lining up an anchor office tenant before construction of 2 World Trade Center was a top priority.
“American Express’ investment to build its new headquarters in this landmark location is a powerful statement about the future of Lower Manhattan,” said Lisa Silverstein, who took over as Silverstein Properties’ CEO after it parted ways with former CEO Marty Burger in 2023. She is the youngest of Silverstein’s three children.
The announcement of American Express’ planned move comes as well-capitalized tenants seek new or renovated trophy towers in the broader flight-to-quality trend. It also underscores a growing shift of companies owning the buildings that house their headquarters or flagship retail locations. JPMorgan Chase, for instance, opened its newly built global headquarters at 270 Park Ave. last year.
Business district turns residential
The project also coincides with the office market recovery in Lower Manhattan, which has lagged midtown since the pandemic. Office leasing volume in 2025 “roared back from a dismal 2024,” posting its strongest year since 2019, according to the Alliance for Downtown New York, a pro-business improvement group.
Meanwhile, Lower Manhattan continues to transform from a traditional 9‑to‑5 business district into a 24/7 mixed-use residential neighborhood. Since 2001, the residential population has grown from 32,000 to over 70,000, sparked in part by office-to-residential conversions, while the number of hotels has climbed to more than 40 from six, the Alliance for Downtown New York said.
The office tenant base has also diversified beyond financial services to include media, advertising, technology, consumer products and fashion companies, according to the downtown business group. For instance, the World Trade Center complex counts among tenants Spotify, Uber and Vogue publisher Condé Nast.
For the record
Cushman & Wakefield represented American Express. Brokers Peyton Horn, Dale Schlather, Lou D'Avanzo and Kyle Ernest worked on the deal.
Silverstein Properties was represented by Mary Ann Tighe, Ken Meyerson, Evan Haskell and Caroline Merck of CBRE.
JLL Capital Markets, led by Senior Managing Director Drew Isaacson, and Savills Capital Markets, led by Vice Chairman David Heller, acted as advisers to the Port Authority on the ground lease agreement.