For Sale: AIG's Manhattan Headquarters

AIG is putting its Manhattan headquarters and a nearby office building on the sales block.

AIG spokesman Mark Herr said Wednesday the company is evaluating the sale of 70 Pine Street and 72 Wall Street as part of its efforts to boost operations.

The potential sale, first reported by The New York Post, comes at a difficult time for the insurance conglomerate and in the New York real estate market. Prices for office buildings are falling in  the wake of tight credit and downsizing in the financial industry.

AIG has outraged lawmakers after it doled out $165 million in employee bonuses over the weekend. The company has received $170 billion in government bailout money.

Copyright AP - Associated Press
Contact Us