AIG Offshoot PineBridge to Bunk with Hank Greenberg at 399 Park


399park 6 AIG Offshoot PineBridge to Bunk with Hank Greenberg at 399 ParkPineBridge Investments, the asset management firm that AIG recently sold to Pacific Century Group for $277 million, has signed a hefty lease at 399 Park Avenue, the midtown skyscraper that recently added former AIG head Maurice “Hank” Greenberg’s C.V. Starr & Co. to its roster of tenants.

PineBridge Investments has signed a lease for nearly 115,000 square feet at the 40-story scraper, according to industry sources, taking the fourth floor formerly occupied by Legg Mason, and part of the sixth. PineBridge’s 15-year lease comes just months after Mr. Greenberg’s C.V. Starr took 120,000 square feet of former Lehman Brothers space in the same tower.

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Right now, PineBridge’s staff reports to work at its two offices at 277 Park Avenue and 70 Pine Street, the latter comprising one half of the two-building AIG portfolio sold at the bottom of the market to Youngwoo & Associates last year.

Neither John Powers, the CB Richard Ellis tri-state chairman who represents the landlord, nor Mitch Steir, the Studley chairman and CEO who represents the tenant, nor PineBridge itself could immediately be reached for comment.