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Bailout
: Calculated RiskAIG New York Building Sell for Under $100 per Square Foot
By Anonymous
LOCAL owner/developer Youngwoo & Associates has teamed up with South Korea's Kumho Investment Bank to win the bidding for AIG's downtown headquarters complex that consists of the Art Deco 70 Pine St. and the more modern 72 Wall St.Put that in your CMBS rating formulas ...Sources said the pricing for the buildings, which have a combined 1.4 million square feet of space, will be just under $100 a foot, bringing the total to less than $140 million.
Full post as published by Calculated Risk on June 10, 2009 (boomark / email).
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