In Brief: MetLife Sees $420M Gain in Building Sale

Published March 31, 2005, 2:00 a.m. EST

Updated March 30, 2005, 5:00 p.m. EST

1 Min Read

MetLife Inc. announced Wednesday that it had sold its One Madison Avenue property in Manhattan to SL Green Realty for $918 million.

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The sale is expected to produce a gain exceeding $420 million, net of income taxes. It is expected to close in the second quarter.

MetLife provides insurance and other financial services to individual and institutional customers. It has about 13 million U.S. customer households and provides benefits to 37 million employees and family members through their plan sponsors.

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