The World Trade Center raised a victory flag on Wednesday over what was once Ground Zero.
American Express announced it will build its new headquarters at Two World Trade Center — the last of the four towers first announced in the original post-9/11 master plan in 2003.
The site of the most devastating terrorist attack in American history, which destroyed the original World Trade Center and took 2,977 lives, will now be completely reborn.
The Church Street site, which is currently a beer garden, lies next to the “Freedom Tower” of One World Trade, home to Conde Nast, and two other towers leased to financial and tech companies.
They ring the 9/11 Memorial Museum and its “void” fountains, as well as the porcupine Oculus transportation hub.
Larry Silverstein will develop the project for Amex, which will take control of the land previously leased to Silverstein by the Port Authority. Amex is currently based at nearby 200 Vesey Street, where Amex and Brookfield Properties each owns half the tower.
A source said Amex hasn’t yet decided whether to dispose of its old space or keep part of it, but will likely sell it to Brookfield. “They have plenty of time,” the source said.
Two World Trade will have the legal address of 200 Greenwich Street. Construction is to start almost immediately and the building to be finished in 2031. Amex will be the sole owner and occupant of the 55-story, nearly two million square-foot tower designed by Foster + Partners.
Amex Chairman and CEO Stephen J. Squeri said the deal “reaffirms our deep commitment to the neighborhood we’ve called home for nearly two centuries.”
Downtown Alliance President Jessica Lappin quipped, “Don’t leave downtown without it.”
The project is expected to create 3,200 direct and indirect construction jobs and contribute $5.9 billion to the city’s economy.
The deal is momentous for Lower Manhattan, which struggled to rebound from the 2007 Wall Street crash, Hurricane Sandy, and the Covid-19 pandemic. Many companies moved uptown, leaving behind scores of obsolete older buildings.
But the area rebounded and saw office leasing hit record high levels last year. The World Trade Center office buildings are thriving. Millions flock to the museum, reflecting pools and stores and restaurants.
Even so, the vacant site of Two World Trade was a painful reminder that the job wasn’t finished.
Although Silverstein, 94, built the three other towers, he regarded it as his “life’s work” to get the missing link off the ground in his lifetime. “I think this time, it’s going to happen,” he told The Post in late 2024.
The Amex commitment follows a roller-coaster saga of real estate fluctuations, architect and design changes, and frustrated hopes.
Silverstein always needed an anchor tenant to develop the tower.
CBRE’s Mary Ann Tighe, who represented Silverstein in the negotiations with the Port Authority and Amex, said, “It seems especially fitting that the final building to rise on the site should have the word ‘American’ prominently displayed on it. Kudos to a great company for making a bold and brilliant patriotic gesture to its hometown and its country of origin.”
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
