AP Source: AIG Agrees To Sell 2 NYC Buildings

By: Associated Press Email
By: Associated Press Email

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Wednesday, June 3, 2009

A person familiar with the matter says the embattled insurer American International Group Inc. is selling its headquarters building in New York and a nearby building in a deal expected to close at the end of this summer.

But the person said Wednesday that AIG is not disclosing the price or who the buyer is. The person asked for anonymity because the sale has not been made public yet.

AIG has received $182.5 billion in government support since September. The company is selling assets to repay part of the loan.

The buildings are at 70 Pine Street and the adjacent 72 Wall Street in lower Manhattan.

The person says AIG employees will remain in its headquarters through 2010. The New York-based firm is developing a relocation plan.

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