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SunAmerica Life moves to 733 Third Avenue.

SunAmerica Life moves to 733 Third Avenue

In an effort to house, under one roof, three of its subsidiaries -- SunAmerica Asset Management, Royal Alliance Associates, and First SunAmerica Life Insurance Company -- Los Angeles-based SunAmerica Life Insurance Company has signed a long-term lease valued at approximately $15 million at 733 Third Avenue in New York City.

The national commercial real estate firm of Julien J. Studley, Inc. represented SunAmerica Life Insurance Company in its lease negotiations. Members of the Studley team were Howard Sadowsky, executive vice president aad regional manager, West Coast operations; Ira Schuman, senior vice president and co-branch manager, midtown New York office; and L. Craig Lemle and Kurt Handschumacher, managing directors in the midtown New York office.

Terms of the transaction commit these subsidiaries to occupy new office space on the entire third and fourth floors of the building for a total of approximately 55,000 square feet. In addition, the building will be named for "SunAmerica," the umbrella marketing name for the life insurance subsidiaries of Broad Inc., the parent company.

Broad Inc. is a financial services company containing life insurance subsidiaries which specialize in selling annuities and tax-deferred, long-term savings products for the pre-retirement market.

The Durst Organization is the owner of the Third Avenue building, a premier, 24th floor office tower totaling 350,000 square feet.

First SunAmerica is relocating from 505 Park Ave., while Royal Alliance and SunAmerica Asset Management are moving from 10 Union Square, with occupancy slated for the late Fall of 1991.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Date:Aug 28, 1991
Words:251
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