Larry Silverstein is hoping third time's a charm when it comes to rebuilding World Trade Center II.
The developer is reportedly in serious talks with American Express to anchor or completely fill the delayed skyscraper, as Silverstein needs tenants to fund the construction.
The as-yet-unbuilt tower is the missing link in a successful commercial revitalization of the former Trade Center site since the Sept. 11 terrorist attacks. Two rounds of talks with Washington Post parent News Corp. and its sister company Fox Corp., as well as Citigroup, fell apart after months of negotiations.
American Express has entered into an exclusive negotiating period with Silverstein. The Real Deal reported Thursday.A decision on whether to implement it could be made as early as this month.
Silverstein declined to comment.
“It would be great for Silverstein and the Trade Center, but it would be extremely difficult to pull off,” an industry source told The Post. “In addition to the astronomical costs, there are countless variables involved in a move, including what AmEx would do with its Brookfield Place space.”
Amex owns the bottom 1 million square feet of 200 Vesey St. Brookfield owns the top half.
The credit card giant, which has signaled its intention to remain in Manhattan, may also consider other available locations downtown, such as Paramount Group's relocated 60 Wall Street, which offers more than 1 million square feet of space.
Amex is also considering basing itself at one of several development sites in the Hudson Yards area, “but the World Trade Center has much better transportation options and access to the talent pool in Downtown, Brooklyn and New Jersey,” another source said.
According to The Real Deal, American Express hired Cushman & Wakefield to explore its options two years ago.
The current design for the proposed tower is by Norman Foster, and Silverstein commissioned Foster to come up with an alternative design to previous designs by Bjarke Ingels and Foster himself.
Silverstein previously told The Post that the design is “flexible” and can be altered to suit resident needs.
He also said that construction would not require any additional official approvals and could begin immediately on the site currently used as a beer garden.
“The foundations are built to grade and we're ready to go,” he said.
