Global financial services giant American Express has agreed to build and own 2 World Trade Center, unlocking the final stage of redevelopment at the 16-acre World Trade Center campus in Lower Manhattan.
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The company announced it will relocate its global headquarters to the yet-to-be-built 55-story tower at 200 Greenwich St., a project long viewed as the final piece in the decades-long rebuilding of the World Trade Center site.
The skyscraper will rise 1,226 feet and span nearly 2 million square feet, with capacity for up to 10,000 employees. Plans call for more than an acre of outdoor space, including landscaped terraces and gardens overlooking the New York skyline.
Construction is expected to begin this spring, with completion targeted for 2031.
American Express will become the sole owner and occupant of 2 World Trade Center. The fully electric tower will be developed by Silverstein Properties on land owned by the Port Authority of New York and New Jersey under a long-term ground lease. The building’s design architect is Foster + Partners.
The project represents both a real estate milestone and a corporate statement about Lower Manhattan’s future.
“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.”
American Express will remain at its current headquarters at 200 Vesey St. until the new tower is delivered. The company owns and occupies more than half of that building, with the remainder owned by Brookfield.
While financial details of the new development were not disclosed, the company said the project is not expected to have a material impact on its financial results.
Economic projections tied to the tower are substantial. The development is expected to generate more than 2,000 union construction jobs and 3,200 total jobs in New York over the course of construction. The company estimates the project will contribute approximately $5.9 billion to the city’s economy.
Beyond job creation, the building is positioned as a sustainability benchmark. Silverstein has previously described the tower as potentially “the most sustainable and energy efficient building” in the United States.
The deal secures what developer Larry Silverstein has long described as the final missing office tower at the rebuilt World Trade Center complex.
Silverstein Properties has already delivered 7 World Trade Center, 3 World Trade Center and 4 World Trade Center. The broader campus also includes One World Trade Center — developed by the Port Authority and The Durst Organization — as well as the Perelman Performing Arts Center, which opened in 2023.
“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, CEO of Silverstein Properties.
The agreement reflects a broader “flight-to-quality” trend in commercial real estate, as well-capitalized companies seek modern, amenity-rich trophy buildings to attract employees back to the office. It also highlights a growing shift toward corporate ownership of headquarters properties, rather than leasing space.
The move comes amid signs of recovery in Lower Manhattan’s office market. After lagging behind Midtown following the pandemic, leasing activity in 2025 rebounded strongly, marking its most active year since 2019, according to downtown business groups.
At the same time, Lower Manhattan continues evolving beyond its traditional 9-to-5 financial district identity. Since 2001, the residential population has more than doubled, supported by office-to-residential conversions and a surge in hotels, retail and cultural destinations. The tenant mix at the World Trade Center now extends beyond finance to include technology, media, fashion and consumer brands.
By anchoring 2 World Trade Center, American Express not only secures a long-term home but also brings closure to a redevelopment effort that began after the Sept. 11 attacks — completing the final office tower in one of the most symbolically significant commercial real estate projects in the country.
Originally reported by Andria Cheng in Co Star.
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