Insurance giant, American International Group, has announced it will relocate its global headquarters in New York City to 1271 Avenue of the Americas, where it will occupy eight floors and 325,000 s/f.
The company will also consolidate its remaining New York City area footprint into 450,000 square feet divided between two new locations at 28 Liberty Street in Manhattan and 30 Hudson Street in Jersey City, New Jersey. The Company plans to move into the three new offices in 2021.
“New York City has played an important part in AIG’s history and we are proud to be headquartered in this unique and resilient city,” said Brian Duperreault, AIG’s Chief Executive Officer. “Our new midtown headquarters building is in close proximity to many of our clients, distribution partners and other stakeholders. We take pride in our role as a responsible corporate citizen and remain committed to doing our part to help strengthen our New York City and Jersey City communities.”
“By optimizing and modernizing our New York City area real estate footprint, we will align our workplaces with the objectives of AIG 200, our global, multi-year effort to position AIG for the future,” said Peter Zaffino, AIG’s President and Global Chief Operating Officer. “We are designing offices in these three class A buildings that will allow our teams to work more effectively and collaboratively with high-quality infrastructure.
“Our people are our most important asset, and we remain committed to providing a safe and productive work environment while incorporating key learnings that have emerged while working remotely.”
1271 Avenue of the Americas redeveloped 48-story office building owned by the Rockefeller Group and located in Rockefeller Center; 28 Liberty Street is a 60-story landmarked office building in Lower Manhattan owned by Fosun; 30 Hudson Street is a 40-story office tower located on the waterfront of Jersey City and developed by Goldman Sachs.
Thomas Costanzo and Isabella Chen represented Fosun in the 28 Liberty lease. JLL’s Mitch Konsker, John Wheeler, Dan Turkewitz and Eliza Gordon also represented Fosun. JLL’s Peter Riguardi, Joseph Messina and Michael Shenot represented the tenant.
The deal cements Fosun’s efforts to reposition the tower with 200,000 s/f of retail space; a signature restaurant and event space, Manhatta, in partnership with Union Square Hospitality Group on the 60th floor of the property, and activation of the landmarked plaza.
“28 Liberty’s repositioning project was specifically designed to create an environment for world-class tenants such as AIG, and we are pleased to welcome them to this property,” said Bo Wei, chief executive representative of Fosun International in the U.S. and Vice President of Fosun Hive.
“AIG’s commitment to 28 Liberty highlights the long-term appeal of the property and the neighborhood,” said Costanzo, Executive president for Fosun. “28 Liberty has attracted a diverse array of dynamic tenants seeking space-use solutions that benefit from the momentum in Lower Manhattan.”
Fosun has completed leases with more than 30 tenants in the 28 Liberty tower since the beginning of a building repositioning effort and the tower is now 96 percent occupied.
Among the deals, Alamo Drafthouse Cinema leased 40,000 s/f at Fosun Plaza for a 600-seat, 10-screen theater and Legends Hospitality will operate a culinary and live entertainment destination to be designed by Jeffrey Beers in 35,000 s/f of space on the ground floor of the Plaza.