-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000919574-09-006372.txt : 20090316
<SEC-HEADER>0000919574-09-006372.hdr.sgml : 20090316
<ACCEPTANCE-DATETIME>20090316135716
ACCESSION NUMBER:		0000919574-09-006372
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090316
DATE AS OF CHANGE:		20090316
EFFECTIVENESS DATE:		20090316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIFTH AVENUE SPECIAL SITUATIONS FUND LLC
		CENTRAL INDEX KEY:			0001052218
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-112480
		FILM NUMBER:		09683588

	BUSINESS ADDRESS:	
		STREET 1:		630 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10111
		BUSINESS PHONE:		(212) 708-9100

	MAIL ADDRESS:	
		STREET 1:		630 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10111
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001052218</cik>
        <entityName>FIFTH AVENUE SPECIAL SITUATIONS FUND LLC</entityName>
        <issuerAddress>
            <street1>c/o Bessemer Trust Company, N.A.</street1>
            <street2>630 Fifth Avenue</street2>
            <city>New York</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10111</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(212) 708-9305</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>C.</middleName>
                <lastName>Angell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Christopher C. Angell is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Daphne</firstName>
                <middleName>L.</middleName>
                <lastName>Bradshaw-Mack</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Daphne L. Bradshaw-Mack is Executive Officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>C.</middleName>
                <lastName>Elliott</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Robert C. Elliott  is an executive officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Luis</firstName>
                <middleName>J.</middleName>
                <lastName>Fernandez</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Luis J. Fernandez is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Victoria</firstName>
                <middleName>W.</middleName>
                <lastName>Guest</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Victoria W. Guest is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>A.</middleName>
                <lastName>Hilton, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>John A. Hilton, Jr. is an executive officer and a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stuart</firstName>
                <middleName>S.</middleName>
                <lastName>Janney III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Stuart S. Janney III is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>M.</middleName>
                <lastName>Johnson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Charles M. Johnson is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>S.</middleName>
                <lastName>Kirkland</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>David S. Kirkland is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Terri</firstName>
                <middleName></middleName>
                <lastName>Lacy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Terri Lacy is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>D.</middleName>
                <lastName>Lindsay</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Robert D. Lindsay is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>G.</middleName>
                <lastName>MacDonald</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>John G. MacDonald is an executive officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dorothy</firstName>
                <middleName>B.</middleName>
                <lastName>Moore</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Dorothy B. Moore is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>George</firstName>
                <middleName>D.</middleName>
                <lastName>Phipps</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>George D. Phipps is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ogden</firstName>
                <middleName>Mills</middleName>
                <lastName>Phipps</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Ogden Mills Phipps is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Maria</firstName>
                <middleName>C.</middleName>
                <lastName>Richter</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Maria C. Richter is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Winthrop</firstName>
                <middleName></middleName>
                <lastName>Rutherfurd, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Winthrop Rutherfurd, Jr. is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thaddeus</firstName>
                <middleName>R.</middleName>
                <lastName>Shelly III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Thaddeus R. Shelly III is an executive officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Marc</firstName>
                <middleName>D.</middleName>
                <lastName>Stern</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Marc D. Stern is Executive Officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Curt</firstName>
                <middleName>R.</middleName>
                <lastName>Tobey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Curt R. Tobey is Executive Officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>A.</middleName>
                <lastName>Vlasic</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Michael A. Vlasic is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName>L.</middleName>
                <lastName>Williamson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Steven L. Williamson is an executive officer of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ward</firstName>
                <middleName>W.</middleName>
                <lastName>Woods</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Bessemer Trust Company, N.A.</street1>
                <street2>630 Fifth Avenue</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10111</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Ward W. Woods is a director of the Manager, Bessemer Trust Company, N.A.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-07-052484</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1997-12-19</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>512963140</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>451</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The Investment Manager and its affiliates are entitled to receive an annual management fee in an amount equal to a specified percentage of assets under management.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>FIFTH AVENUE SPECIAL SITUATIONS FUND LLC</issuerName>
                <signatureName>/s/ Daphne L. Bradshaw-Mack</signatureName>
                <nameOfSigner>Daphne L. Bradshaw-Mack</nameOfSigner>
                <signatureTitle>Authorized Person</signatureTitle>
                <signatureDate>2009-03-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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-----END PRIVACY-ENHANCED MESSAGE-----