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Article: AIG sells Manhattan headquarters
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- June 10, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - American International Group agreed to sell its New
York headquarters and an adjacent building to Kumho Investment
Bank, a South Korean firm, and Youngwoo & Associates, a Manhattan-
based developer.
A contract was signed last week, according to a statement
yesterday from CB Richard Ellis Group, the broker that represented
AIG. The price wasn't disclosed. The properties, which have a total
of 1.4 million square feet, are at 70 Pine St. and 72 Wall St.
"The investment is based on our optimistic view on the future of
Wall Street, New York City, and the US financial services industry,"
said Y.C. Kim, a Kumho director, in the statement.
AIG is selling property and businesses after ...