American Express, two years into its search for a new or upgraded headquarters, is in discussions with Larry Silverstein regarding the construction of a long-awaited skyscraper at 2 World Trade Center. The financial services company is in an exclusive negotiation period with Silverstein and could make a decision as soon as this month.
Silverstein has been striving to secure an anchor tenant, a necessity to obtain the loan needed to build the tower. American Express also has the option to choose another prominent Manhattan project or renovate its current headquarters at 200 Vesey Street — a 54-story building formerly known as 3 World Financial Center, where it owns and occupies the top portion.
Renderings: Foster + Partners, Visualhouse
While American Express faces no immediate deadline to vacate its current headquarters, Silverstein “wants 2 World Trade Center done yesterday and wants it started in his lifetime,” said a source familiar with his thinking.
The tower, along with the closer-to-fruition 5 World Trade Center, would mark the final major component of the World Trade Center redevelopment, which has been a career-defining mission for Silverstein. Six weeks before the Twin Towers were destroyed on 9/11, the longtime landlord signed a 99-year ground lease with the Port Authority for the site.
Renderings: Foster + Partners, Visualhouse
In 2021, Silverstein appointed architect Norman Foster to replace Bjarke Ingels as 2 World Trade Center’s designer - the project could be larger or smaller than the Foster rendering that was leaked in 2022.
American Express has a myriad of choices besides 2 World Trade, although not all have enough future expansion capabilities.
Related Companies is shopping the 1.2 million-square-foot 70 Hudson Yards plus 2 million square feet of offices in its planned western rail yards towers. Joseph Moinian and Boston Properties are still pitching the 1.85-million-square-foot 3 Hudson Boulevard.
Tishman Speyer is planning a 1 million square-foot-plus 99 Hudson Boulevard, while further east in that corridor Vornado has plans for a 2.7-million-square-foot Penn 15.
RXR and TF Cornerstone are also wooing tenants for the 3-million-square-foot 175 Park Avenue adjacent to Grand Central Terminal that will have 2.1 million square feet of offices.
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