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.
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