In 2003, American Express announced its program of Card acceptance for recurring payments at luxury rental properties. Soon after the program was announced, The Moinian Group began accepting the Card for rent payments across its luxury rental portfolio. Based on the success of the automatic rent payment program with Moinian and in the industry overall, American Express is now expanding its program to enable Cardmembers to enjoy the convenience and rewards of paying for condominium down-payments on the American Express® Card.

“Our Cardmembers around the country have embraced the benefits of monthly rental payments on the Card,” said Kyle Curtin, vice president of Strategy and Business Development, American Express Establishment Services. “Down-payments on the Card bring the convenience and rewards to an entirely new level.”

“We are extremely gratified that American Express has once again selected The Moinian Group to roll out this new program in the New York market,” said Joseph Moinian, CEO, The Moinian Group. “Amenities are a key factor in a buyer's decision to purchase a home in a Moinian Group property. For American Express Cardmembers, the ability to charge their down-payment and earn rewards is incredibly appealing. We're delighted to offer such a convenient option that insures on-time payment and customer satisfaction.”

The Atelier, a 46-story, 478-unit condominium development under construction on Manhattan's Far West Side, has already begun to accept the American Express Card for down-payments.

About The Moinian Group
The Moinian Group, one of the country's largest privately held real estate firms, owns and manages over $8 billion in assets additionally controlling the rights to develop 5 million square feet of space on undeveloped land. Currently, The Moinian Group holds a portfolio of more than 20 million square feet of office, residential, retail and hotel properties throughout the U.S. and abroad, including 14 million square feet in Manhattan. Its extensive acquisitions include trophy buildings like the Downtown Club in lower Manhattan, formerly known as the Downtown Athletic Club and home to the Heisman Trophy, the Sears Tower in Chicago and Continental Towers at 180 Maiden Lane in Downtown Manhattan. The Moinian Group aims to transform long-underutilized areas into dynamic, transit-oriented urban centers by integrating a mix of medium- and high-density residential, commercial, entertainment and cultural land uses. Striving for excellence, it sustains its leadership in the industry with a focus on creating new environments in which to grow, work and live. For more information, please visit www.moiniangroup.com.

About American Express
American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, business services, insurance and international banking. Establishment Services is the merchant network of American Express, which acquires and maintains relationships with millions of merchants around the globe, which welcome American Express-branded Cards. For more information, please visit www.americanexpress.com.