Jeff Sutton and 747 Madison Avenue retail

Taking a page from their success in Times Square, Jeff Sutton and SL Green Realty are taking unusual steps to expand a retail space they own on the Upper East Side. The New York Post reported that Jeff Sutton purchased a $2.6 million duplex co-op at 30 East 65th Street, in the same building along Madison Avenue where he and SL Green acquired the 9,800-square-foot ground-floor retail space for $66.25 million last July. [more]

Jeff Sutton and 747 Madison Avenue

Prominent Manhattan landlord Jeff Sutton and SL Green Realty have just entered into a contract to buy another high-profile fashion store at 747 Madison Avenue, the New York Post reported. The purchase price is close to $65 million, sources said.

The store, which is at the base of Colony House residential building near East 65th Street and currently houses fashion label Valentino, has 6,700 square feet on the first floor and a 3,100-square-foot lower level currently used for storage, according to data from CoStar.

The expiration of Valentino’s 10-year lease within the next year provides an opportunity for a rent hike, the Post said. … [more]