AIG to Sell New York Buildings Including Pine St. Headquarters

June 3, 2009

American International Group Inc. has reached a deal to sell two New York buildings, including its downtown Manhattan headquarters, a source familiar with the matter said Tuesday.

The buildings being sold are located at 70 Pine Street and 72 Wall Street in New York, the source said. The source declined to name the buyer or the value of the deal.

Occupants of the Pine Street office are likely to stay there through the end of 2010, while those at the Wall Street location will be there through the end of this year, the source said.

Over time, AIG employees will be relocated to other locations, including offices at 180 Maiden Lane in New York, the source said.

AIG declined to comment. The source did not want to be identified because the deal is not public yet.

(Reporting by Paritosh Bansal, editing by Gerald E. McCormick)

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