In an expansion of its real-estate-related programs, American Express Co. is allowing buyers of luxury condos in Manhattan to plunk down their cards for the down payment. A deal announced Wednesday
with The Moinian Group, one of the industry's most active development firms, allows buyers at 478-unit condo The Atelier, with prices ranging from $640,000 to $1.475 million, to charge the down
payment on their Amex card (and collect the applicable reward points for doing so). Since 2003, American Express has allowed cardmembers who live at Moinian's luxury rental properties to charge their
monthly rent payments through an automatic card debit program.
