Larry Silverstein seeks Amex partnership for World Trade Center tower

Larry Silverstein is currently in negotiations with American Express to secure a tenant for the delayed Two World Trade Center tower, which is crucial for obtaining construction financing. This tower is the last piece needed to complete the commercial revival of the World Trade Center site following the September 11 attacks. Previous discussions with News Corp and Citigroup did not result in agreements, making this negotiation with Amex particularly significant. American Express is considering relocating from its current space at Brookfield Place, where it occupies one million square feet. The company has also explored other downtown options, including available spaces at 60 Wall St. and potential sites in the Hudson Yards area. However, the World Trade Center location offers superior transit options and access to talent pools, making it an attractive choice for Amex. The design for the proposed tower, created by Norman Foster, is flexible and can be adapted to meet the needs of a tenant. Silverstein has indicated that construction could commence immediately, as the foundation is already prepared. The site is currently occupied by a beer garden, but no additional public approvals are required to begin work. Industry insiders have expressed cautious optimism about the potential partnership, noting the challenges involved in such a significant relocation. While it could be a transformative move for both Silverstein and the World Trade Center, the complexities and costs associated with the project present considerable hurdles.