175 Water St HQ Building - For Sale - post regarding AIG (American Intl Group Inc.) layoffs

175 Water St HQ Building - For Sale

https://therealdeal.com/2019/05/28/aig-looks-to-sell-downtown-headquarters/amp/

Insurance giant American International Group is looking to sell its Financial District headquarters ahead of a relocation to Midtown.

AIG is shopping its 31-story office tower at 175 Water Street for sale with an asking price near $275 million, sources told The Real Deal.

As part of a sale, AIG is looking to do a short-term leaseback with the new owner through the end of 2021 as the insurance company relocates offices to the Rockefeller Group’s 1271 Sixth Avenue.

A spokesperson for AIG declined to comment. An Eastdil Secured team of Gary Phillips, Brett Siegel, Evan Layne, Jeff Organisciak and Alex Scheetz is marketing the property. A representative for the brokers declined to comment.

The asking price for the 684,000-square-foot tower between John and Fletcher streets works out to roughly $400 per square foot.

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20 replies (most recent on top)

theyre way over paid to come here that's why they. and if they can't turn the company around theyre loaded and don't have to work or they can somewhere else or half of them can retire that's why they come to the sinking ship $$$$$$ most of them are someone's cronies

These top management people who joined AIG are holding good jobs elsewhere prior to joining us. Why are they risking their career here? If it is a sinking ship, why are they here? Think folks. Be positive! Have faith! Give them another year

It would save the company alot of money putting more people in the Berkeley Heights office for those living in NJ rather off than a long and expensive commute to NYC.

I have heard our WC business will be going to Sedgwick-but that is not confirmed.

does anyone know which TPS's will be handling the WC business. I am looking for a job. Thanks

I have heard that too...Wonder when they will have the decency to notify the staff. A lot of people will be impacted.

It's not a rumor that WC Claims is mostly going to TPA's. It's a fact.

The rumor that WC Claims is being moved to a TPA is running rampant right now. The job posting for the Global Head of TPA Claims seems to confirm that. It is only a matter of time.

It wouldn't surprise me if WC Claims was hit. A majority of the business being written for WC is going to TPA's.

Will KC SS be targeted by imminent RIF’s hearing WC on the hit list company wide anyone know anything about this let it be known

...your point? Being subservient to bad ideas and practices won’t make the layoff factory any better. But yes staying is a personal choice - keep your eyes wide open.

My last two employers ditched the cubes for open floorplan office space.

The 125 sq ft estimate per employee cited up thread may not be valid anymore.

Sure, open plan offices are terrible to work in. But I'd rather have that than unemployment.

Company Shift: sell or get out of Trucking, WC, Property, Middle market cas, and personal lines. They will then look to merge with someone.

There's just enough room for level 27s and above and there and the two new private jets in the midtown office

Shareholders just approved a $21 million pay package for BD....poor lad....not sure how he is going to make ends meet? Should we start a GoFundme for BD?

Oink, Oink, Oink.....little piggies at the trough

will the sales price just cover BD's next bonus

The new space they rented out in midtown is 200k sq feet. A cube employee takes up 125 sq feet. So it’s gonna be super tight there or there’s going to be major restructuring on the way.

Will they just RIF the Berkeley Heights office already? The job s---s.

Fire sale begins...

Layoffs and Real Estate sales are always a precursor to a major company shift.

I guess we shall find out soon enough.

Thread regarding AIG (American Intl Group Inc.) layoffs

175 Water St HQ Building - For Sale

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