AMEX in Talks with Silverstein Properties to Anchor 2 WTC Tower

Silverstein Properties and American Express are reportedly in exclusive discussions to build the long-anticipated 2 World Trade Center tower, with American Express potentially becoming the anchor tenant. Larry Silverstein, the developer behind the project, has been seeking financing for the 78-story skyscraper for years, and this current negotiation with AmEx could be pivotal, with a decision expected as soon as this month.

AmEx's Decision-Making Process

American Express has no set deadline for its decision. The company is carefully evaluating the cost of relocating to a new, state-of-the-art office tower versus staying and refurbishing its current headquarters at 200 Vesey Street. Since 2022, AmEx has been exploring options for securing approximately 1 million square feet of space in New York City. Paul Gioioso, AmEx’s senior vice president for global real estate, is working closely with Cushman & Wakefield on this decision, while Silverstein is represented by CBRE’s Mary Ann Tighe.

Silverstein’s Vision for the World Trade Center

Larry Silverstein, now 93, has long been committed to completing the World Trade Center complex. He is eager to finalize the 2 World Trade Center project, which would complete his vision for the site. Previous negotiations with companies like News Corp., Citigroup, and Jane Street Capital fell through, leaving Silverstein in search of a lead tenant to anchor the development.

Silverstein’s Legacy at the World Trade Center

Silverstein's connection to the World Trade Center dates back to his 99-year lease agreement signed just six weeks before the September 11 attacks, which destroyed the Twin Towers. Since then, he has been focused on redeveloping the 16-acre site, which now includes several completed towers and the Oculus transportation center. Silverstein has chronicled his journey in his upcoming book, The Rising: The Twenty-Year Battle to Rebuild the World Trade Center, set for release on September 10.