AIG to move headquarters to Water Street

New York /
Aug.August 03, 2013 02:00 PM

American International Group plans to move its headquarters to 175 Water Street, a building that the insurance giant owns, Bloomberg News reported.

The firm intends to move to the Water Street building, which is a block away from its current home base at 180 Maiden Lane, by the start of next year’s second quarter, someone familiar with the matter told Bloomberg.

“We’re moving jobs all around where we can get the best workforce at the right price,” said AIG CEO Robert Benmosche. “This is about managing our expenses.”

There are about 1,900 employees at 180 Maiden Lane and 1,500 at 175 Water Street. The company had 63,000 employees as of Dec. 31, compared with about 116,000 at the end of 2008.

The Water Street location would be AIG’s third headquarters in five years. The company was previously based at 70 Pine Street, and signed a deal in 2009 to sell that building. [Bloomberg via Crain’s] – James Comtois


Related Articles

arrow_forward_ios
New development inventory fell 12% by the end of Q2 compared to 2019, a sign of higher consumer confidence surpassing pre-pandemic levels. (iStock)
Glut reaction: Manhattan condo inventory finally drops
Glut reaction: Manhattan condo inventory finally drops
A rendering of the project at 1 Park Row in the Financial District. (Winick)
L.A.-based lender puts FiDi project into construction with $90M loan
L.A.-based lender puts FiDi project into construction with $90M loan
The Watson Hotel at 440 West 57th Street (Google Maps)
Developers already eyeing commercial-to-resi conversions
Developers already eyeing commercial-to-resi conversions
The Down Town Association at 60-64 Pine Street (Wikipedia Commons, iStock/Illustration by Alexis Manrodt for The Real Deal)
Down Town Association files for bankruptcy
Down Town Association files for bankruptcy
Substantial tax incentives put in place to help Lower Manhattan recover from the 9/11 terrorist attacks are still active 19 years later. (Getty Images)
19 years after 9/11, does Lower Manhattan still need subsidies?
19 years after 9/11, does Lower Manhattan still need subsidies?
Matthew James (Credit: ABC)
First black “Bachelor” for ABC comes from real estate world
First black “Bachelor” for ABC comes from real estate world
Yuh-Line Niou, Grace Lee and 250 Water Street (Credit: Google Maps)
Howard Hughes project at 250 Water Street triggers primary race
Howard Hughes project at 250 Water Street triggers primary race
An aerial view One World Trade Center in Lower Manhattan (Credit: iStock)
On anniversary of 9/11, the World Trade Center office market is now helping propel Downtown
On anniversary of 9/11, the World Trade Center office market is now helping propel Downtown
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...