Silverstein Properties Breaks Ground on 2 World Trade Center
By Emily Davis July 9, 2026 12:44 pm
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City officials, American Express executives and tradesmen gathered in Lower Manhattan on Thursday morning to break ground on Silverstein Properties’ 2 World Trade Center tower.
The 55-story, 1,226-foot skyscraper destined for 200 Greenwich Street will serve as the future global headquarters of American Express. The company’s massive agreement to become the tower’s sole anchor tenant across nearly 2 million square feet was announced in February.
Lisa Silverstein, CEO of Silverstein Properties, praised the groundbreaking of what her father, Larry Silverstein, promised in 2001, following the Sept.11, 2001, terrorist attacks that devastated the site and the city.
“This is an important milestone for our city, for American Express, for Silverstein Properties, but also symbolizes triumph and what can be accomplished in this country after what happened nearly 25 years ago,” Lisa Silverstein said at the groundbreaking event.
Larry Silverstein, 95, could not be in attendance on Thursday, his daughter said, adding that she hopes he will join her for the anticipated ribbon cutting slated for 2031.
Silverstein praised the deal’s partners at American Express, including Denise Pickett, president of enterprise shared services, and Stephen Squeri, CEO.
“Their unwavering trust and shared vision kept us moving across the finish line over several years,” Silverstein said.
During his turn at the podium, Mayor Zohran Mamdani addressed the economic opportunities the project will create, including more than 3,200 direct and indirect construction jobs. Another 10,000 workers will be housed in the tower once it is completed, Mamdani said, contributing roughly $11.4 billion toward the city’s economy, including nearly $250 million in tax revenue.
“American Express has called Lower Manhattan home for more than 170 years and has been headquartered here for 40 years,” Mamdani said. “That is a commitment that has endured years of tragedy and economic downturn, that has overcome pandemics and hurricanes, and it is a commitment that has shaped thousands of New Yorkers’ lives.”
Kathryn Garcia, executive director of the Port Authority of New York and New Jersey, and Kevin J. O’Toole, chair of the Port Authority, also spoke.
“Markets rise and fall, headlines change, but we need to be building for the next generation, and that is what Silverstein Properties and American Express are doing today,” Garcia said.
Gary LaBarbera, president of the Building and Construction Trades Council of Greater New York, praised the commitment of Larry Silverstein, as well as the tradesmen involved in the site’s recovery and reconstruction.
The event was rounded out by the Borough of Manhattan Community College Downtown Chorus, with a rendition of Frank Sinatra’s “New York, New York,” before the gathered speakers plunged their shovels into the sand.
Emily Davis can be reached at edavis@commercialobserver.com.
