American Express Ramps Up Lease

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The New York Sun

American Express Co. agreed to lease an additional 155,000 square feet for its headquarters at 3 World Financial Center in Lower Manhattan, Brookfield Properties Corp., which owns 51% of the building, said in a press release.


The fourth-largest American issuer of credit cards already owns the other 49% of the 52-story tower, which was damaged by falling girders from the World Trade Center’s north tower in the September 11, 2001, terrorist attack.


Brookfield in 2002 paid $158 million for the portion of the tower that had been headquarters of Lehman Brothers Holdings Inc. before it moved to Midtown following the disaster.


American Express, which occupies the upper floors, signed an 18-year lease for all of the 19th and 24th floors and parts of floors 25 and 26, said a Brookfield spokeswoman, Melissa Coley.


Terms weren’t disclosed.


Brookfield owns all or parts of the four Cesar Pelli designed skyscrapers that comprise the World Financial Center, an 8 million-square-foot office complex along the Hudson River, which was built on fill excavated from the trench dug in the 1960s for the World Trade Center.


Merrill Lynch & Co., the world’s largest securities firm, has its headquarters in 4 World Financial Center.


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