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SAB Moves to Full Floor at 712 Fifth Ave.

NEW YORK CITY-The asset management firm occupies nearly 10,000 sf above Henri Bendel's flagship store at Fifth Avenue and 56th Street. The deal is a five-year sublease from a Barbados-based reinsurance intermediary.

By Glen Thompson | Updated on July 12, 2002

NEW YORK CITY-Locally based SAB Management LP has moved from its 650 Madison Ave. offices into a full floor at 712 Fifth Ave. The asset management firm is occupying the space under a five-year sublease from Barbados-based reinsurance intermediary Enterprise Advisors with the permission of building owner and manager the Paramount Group Inc.

Grubb & Ellis managing director Luis Suarez represented Enterprise in negotiating the 9,777-sf lease. Jeffrey Rosenblatt, a senior managing director with Grubb, represented SAB in the transaction. According to Suarez, SAB is paying “in the mid- to high-$80s” for the entire 42nd floor of the building, located on the southwest corner of Fifth Avenue and 56th Street.

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