Wharton Properties President Jeff Sutton has added the Roxy Deli building at 1565 Broadway to his retail portfolio, in a $30 million deal, the New York Post reported.
Jack Valensi and Jacob Sinai of Valensi Realty brokered the deal. Built in 1920, the four-story, 5,159-square-foot building is blanketed with highly lucrative signage and is right across from Times Square’s red staircase, which ensures massive foot traffic throughout the day.
On the south end of the same block, Sutton also owns the American Eagle-occupied 1551 Broadway, in partnership with SL Green Realty. The duo also co-owns 1552 Broadway across the street as well as 1560 Broadway and 1604 Broadway.
Sutton was also recently involved in the record-setting, no-contract purchase of Soho’s 529 Broadway, in a partnership with Joe Sitt, Bobby Cayre and the Adjmi family, as The Real Deal previously reported.
Sutton could not be reached for comment by the Post. Valensi declined to discuss the deal but said that the brokers’ commission was paid by Sutton and not the sellers. [NYP, 1st item] –Hiten Samtani