AIG to consolidate NYC space

Signs massive lease at office tower

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Paramount Group has signed insurance company AIG to a long-term, 250,000-square-foot lease at Financial Square in downtown Manhattan. The firm, which will be relocating several nearby divisions to Financial Square, is taking some space immediately, and following a custom build-out of several floors, will occupy the rest of the office space in March. The AIG lease, the value of which was not disclosed, brings Financial Square to more than 95 percent occupancy. Other tenants at the property include Goldman Sachs, Daiwa Bank and Bank of New York. Paramount Group owns approximately 10 million square feet of class A office buildings in midtown and downtown Manhattan, as well as in Washington, D.C., and San Diego. ...