American International Group Inc, the insurer that received a $173 billion US bailout, is considering selling its New York headquarters building and another tower in lower Manhattan.
AIG is evaluating the sale of 70 Pine St and 72 Wall St, spokesman Mark Herr said in an e-mail on Wednesday.
The insurance company is seeking a buyer after commercial real estate prices in the US dropped by almost 15 per cent in 2008, according to a February 19 report from Moody’s Investors Service. Commercial values are now down more than 16 per cent from their peak in October 2007, said Moody’s.
