Jeff Sutton has been unmasked as the buyer of the remaining 33.3 percent stake in the retail co-op at 747 Madison Avenue’s Colony House, and French fashion brand Givenchy was revealed as the mystery tenant taking space at the property’s base. [more]
Posts Tagged ‘747 madison avenue’
Landlord SL Green Realty sold its 33.3 percent stake in the retail co-op at the 17-story Colony House building at 747 Madison Avenue — valuing the space at roughly $160 million, the company said.
SL Green partnered with retail investor Jeff Sutton in the project, which is now fully occupied after an undisclosed European fashion house signed a 15-year lease for a 2,800-square-feet spot. SL Green will also pump $30 million into the property in conjunction with the sale. [more]
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]
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]