Fire Sale at AIG
cityfile · 03/18/09 01:02PMCan we interest you in an office building in the financial district? The most despised company in America, AIG, is now looking to unload its 66-story Art Deco tower at 70 Pine Street and has tapped star commercial broker Darcy Stacom to handle the deal. Unfortunately, the building isn't expected to go for much more than $100 million, a far cry from what the company could have made a few months ago when it was worth $300 million or more. Presumably the price will continue to drop as time passes (and the company has to figure out how to pay for the next round of employee bonuses). In the meantime, you could always pick up 70 Pine at a real bargain and go for a pewter version for $150. [NYP]