American Express to Build New State-of-the-Art Global Headquarters at 2 World Trade Center

Fried Frank is advising American Express on its agreement with Silverstein Properties and The Port Authority of New York and New Jersey to relocate its global headquarters from 200 Vesey Street and develop a new, state-of-the-art, nearly 2 million square foot headquarters at 2 World Trade Center in New York City. The new headquarters will be custom designed to foster innovation, collaboration, and well-being for colleagues, while reinforcing the company's deep roots in New York City. Spanning 55 floors, the new building will have capacity to host up to 10,000 colleagues across flexible and modern workspaces designed to inspire collaboration and creativity. It will feature more than an acre of outdoor space with several greenery-filled terraces and gardens and sweeping views of the Manhattan skyline.

The transformative development, which required various approvals from New York State, New York City and The Port Authority of New York and New Jersey, will be developed on land owned by the Port Authority under a long-term ground lease. The project represents a significant investment in the future of work, technology, and the ongoing economic vibrancy of Downtown Manhattan. The development is expected to create over 3,200 direct and indirect construction-related jobs in New York City during the duration of the project, with an estimated contribution of approximately $5.9 billion to the City's economy and $6.3 billion to the New York State economy overall. Read the press release for more information about the development.

Fried Frank's role in this project further demonstrates the firm's ability to advise clients at the forefront of development, reshaping the skylines of New York City and other major cities around the world.

The Fried Frank team was led by chairman of Fried Frank's Real Estate Department Jonathan L. Mechanic, real estate partners Cyril Touchard and Tal J. Golomb, tax partner Richard A. Wolfe, real estate special counsel Melissa Brown and real estate associate Elliot Fuchs.

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