AIG Abandons New York City Headquarters

What's next, the water coolers?

American International Group(AIG Quote) is shuttering its New York City headquarters.

The flailing insurer announced today that it has agreed to sell the building, located at 70 Pine Street, as well as its adjacent 72 Wall Street building.

The price and buyer of the buildings were not disclosed.

AIG employees will remain in the building through 2010 and in the Wall Street building through the end of this year. The company is currently working on a relocation plan.

On Tuesday, the company also announced that it sold its consumer-finance operations in Argentina, and last week the company said it will unload a majority of its stake in Transatlantic (TRH Quote).

AIG, of course, is shedding its assets in an effort to pay back that little $85 billion loan it took out from taxpayers.