NU Online News Service, Dec. 9, 2003, 1:24 p.m. EST – MetLife Inc., New York, says its Metropolitan Life Insurance Company unit has agreed to sell its interest in the old Metropolitan Life Insurance Company building at 11 Madison Ave., New York.[@@]
The sale of Metropolitan Life's stake in the 29-story, 2.2-million-square-foot art deco building should lead to an after-tax gain of about $160 million, but the deal will have no material effect on MetLife's operating earnings, MetLife says.
The old MetLife building, which is now the home of the New York headquarters of Credit Suisse First Boston L.L.C., was completed in 1932.
