American International Group Inc., the insurer saved from collapse by the U.S. government, agreed to sell its New York headquarters and an adjacent office building, two people familiar with the matter said.
An agreement has been reached for 70 Pine St. and 72 Wall St. in lower Manhattan. The price and the buyer weren’t disclosed.
AIG is selling property and businesses after being bailed out four times by the federal government. The insurer agreed last month to sell its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion. AIG also sold a 235,000-square- foot office building (21,800 square meters) in Ridgefield Park, N.J. to KABR Real Estate Investment Partners LLC.
The buyers of the Manhattan buildings, which have a total of 1.05 million square feet, may convert them into offices, apartments or hotel rooms, he said. The buildings are connected by a skywalk.