Insurance conglomerate AIG has officially announced the relocation of its global headquarters to 1271 Avenue of the Americas in Midtown, Manhattan. The new headquarters will span eight floors or approximately 325,000 feet.
Commonly known as 1271 Sixth Avenue, the 48-story commercial tower is located within Rockefeller Center and was recently modernized and redeveloped by The Rockefeller Group. As part of the relocation plan, AIG has also finalized negotiations to lease 220,000 square feet of office space at 28 Liberty Street in Manhattan’s Financial District as well as 230,000 square feet at 30 Hudson Street in Jersey City, New Jersey.
AIG estimates that the move to its three new offices will be completed by 2021. In total, newly leased space will amount to nearly 800,00 square feet.
View of 28 Liberty Street and 30 Hudson Street – Skyscraper Center / CTBUH
“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 AIG’s president and global chief operating officer Peter Zaffino. “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.”
Similar to 1271 Sixth Avenue, 28 Liberty Street has also undergone major renovations in recent years. Described as a repositioning, scope of work included the replacement of existing building mechanicals, the addition of 200,000 square feet of retail space and a signature restaurant and rooftop event space known as Manhatta, and activation of the surrounding landmarked plaza.
Outdoor plaza at 28 Liberty Street – Fosun Hive
According to Fosun Hive, a subsidiary of multi-national investment company Fosun International, which owns 28 Liberty Street, the transaction with AIG brings the property up to 96 percent occupancy.
“AIG’s commitment to 28 Liberty highlights the long-term appeal of the property and the neighborhood,” said Fosun executive president Thomas Costanzo. “28 Liberty has attracted a diverse array of dynamic tenants seeking space-use solutions that benefit from the momentum in Lower Manhattan.”
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For anyone that actually lives in New York, you can go ahead and read this as “AIG signs significant leases at the Time & Life Building and One Chase Manhattan Plaza”.
Right.
It’s taken a couple years, but 1271 got all new glazing and the signature design plaza paving was replaced and looks great. Rockefeller had deep tunnels made so he could walk privately between all the buldings.
When I was a young teenager, I was a messenger boy working out of the Sperry Rand Building (1290 Ave of the Am.) The Time/Life Bldg. is from 1959; one can see the imbedded markings in the sidewalk to make sure that its property within the building line is not deemed abandoned for public use. I used the underground passageways and Concourse in Rockefeller Center to go from one building to the next, as well as to the Time Life Bldg, to keep out of the rain while making deliveries.