AIG deal sets new Class B floor

When the AIG headquarters at 72 Wall Street was sold last Wednesday, a new baseline for Class B office space Downtown of $107 per square foot was set. Youngwoo & Associates and Kumho Investment Bank bought the space for $150 million, the New York Post reported. AIG has 18 months to move from 72 Wall Street to the Goldman Sachs space at 180 Maiden Lane. Goldman, which has already collected $20.5 million in rent from AIG for the space, will collect another $52.8 million before the move is completed. Joseph Moinian, of the Moinian Group, is currently suing Goldman Sachs for $175 million, arguing that Goldman is supposed to pay him 50 percent of anything the company makes on the 180 Maiden Lane sublease. His suit claims that Goldman had allowed AIG to lease the space at far below market value.