NEW YORK CITY-American Financial Group, Inc. has reached an agreement to sell certain New York real estate assets. The sale is expected to close late in the third quarter or in the fourth quarter of 2006, subject to conditions. AFG expects to net approximately $29 million ($.36 per share) after transaction costs.

An AFG representative tells GlobeSt.com it “is under a confidentiality agreement” and couldn’t disclose any further information on the deal. AFG was trading at $44.72, up $.84 or 1.91%, just after noon today.

Through the operations of the Great American Insurance Group based in Cincinnati, AFG is primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities and supplemental insurance products.

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