TLDR:
- Venture capital company Loeb Enterprises renewed their 18K-square-foot office space at 712 Fifth Avenue for another decade.
- The firm specializes in marketing and consumer research companies and aims to help startups become mature businesses through investment.
A spokesperson for CBRE confirmed Loeb Enterprises’ renewal at Paramount Group’s 712 Fifth Avenue. The company signed an 18,056-square-foot renewal for part of the sixth floor and the entire seventh floor of the building. CBRE broker Anthony Dattoma facilitated the deal, marking the third transaction with Loeb Enterprises at this location. The exact asking rent was not disclosed but office rents in Midtown averaged around $79.55 per square foot in the second quarter of 2024.
Loeb Enterprises, founded in 2006 by Michael Loeb and Rich Vogel, focuses on marketing and consumer research companies. The firm’s goal is to support the growth of novel, innovative, and fast-growing companies through investment. Prior to the current renewal, Loeb had previously renewed offices at the same location for 30,986 square feet in September 2016, making it the largest tenant at that time. Other tenants in the building include investment firm Aberdeen Standard Investments, investment firm CVC Capital Partners, and private equity company Riverstone Holdings.
For any inquiries, Isabelle Durso can be reached at idurso@commercialobserver.com.
