The Real Deal New York

Posts Tagged ‘jeff sutton’

  • From left: Marc Holliday, Jeff Sutton, 650 Fifth Avenue and Ayatollah Khamenei

    From left: Marc Holliday, Jeff Sutton, 650 Fifth Avenue and Ayatollah Khamenei

    A joint venture between SL Green Realty and Jeff Sutton’s Wharton Properties has acquired the long-term leasehold for the retail portion of 650 Fifth Avenue, a Midtown tower that a New York federal judge previously ruled is a front for Iranian interests. [more]

  • Sutton-Armani-717-Schwarzman

    From left: Jeff Sutton, Armani store, 717 Fifth Avenue (Photo: CoStar Group) and Blackstone’s Steven Schwarzman

    Private equity juggernaut the Blackstone Group is reportedly shopping the office portion of its tower at 717 Fifth Avenue, for a sum that sources pegged at $370 million. But the 26-story tower, divided into three condominiums, comes with an unusual property tax situation that reduces the value of the stake, insiders said. [more]

  • From left: Blackstone's Steven Schwarzman, 717 Fifth Avenue and Jeff Sutton

    From left: Blackstone’s Steven Schwarzman, 717 Fifth Avenue and Jeff Sutton

    The Blackstone Group has put a 26-story Fifth Avenue tower on the market. The plan to sell 717 Fifth Avenue had been in the works for several months, but the private equity giant had to wait to officially begin marketing the property until retail real estate tycoon Jeff Sutton — who owns the retail condominiums in the building – passed on his right of first offer. [more]

  • Jeff Greene

    Jeff Greene

    From the September issue: In this month’s “Heard around town” feature, The Real Deal has the scoop on Jeff Sutton’s plans to demolish his New Jersey home and a tour of billionaire Jeff Greene’s Hamptons compound the very day the real estate mogul played tennis with the creator of the South Beach Diet. Click here to see these stories and more.

  • A rendering of 529 Broadway

    A rendering of 529 Broadway

    The Landmarks Preservation Commission gave high praise to a six-story retail project planned for 529 Broadway by investors Bobby Cayre and Jeff Sutton. Commissioner Michael Devonshire said the proposed project was “as exciting a building as I’ve seen [in my time] on the committee.” [more]

  • Sutton pays Sitt $327M for 530 Broadway

    September 18, 2013 10:19AM
    Jeff Sutton, 530 Broadway and Joseph Sitt

    Jeff Sutton, 530 Broadway and Joseph Sitt

    Retail mogul Jeff Sutton is in contract to buy a three-building site at 530 Broadway from frequent collaborator Joseph Sitt for $327 million, extending his dominance in Soho. [more]

  • Empire_State_Building_Graphic

    From left: Peter Malkin and Joseph Sitt

    Over the past seven years, Malkin Holdings has steered the once warren-like Empire State Building from a derided Class B relic to a reinvigorated office tower that competes for large tenants with the city’s most modern Class A properties. [more]

  • Pace opens at Sutton’s 180 Broadway

    August 31, 2013 04:00PM

    Jeff Sutton and 180 Broadway

    Following nearly two years of construction, 180 Broadway is set to open its doors to nearly 600 Pace University students this Labor Day weekend. Owned by retail tycoon Jeff Sutton, SL Green Realty and Harel Insurance, the 24-story dormitory in Lower Manhattan will feature a fitness center, staff offices and student common areas. [more]

  • JeffSutton119Spring2

    Jeff Sutton, 119 Spring Street in Soho

    A former joint venture partner of developer Jeff Sutton claims in a new lawsuit that the owners of a Soho co-op building refused to sell them the retail space for an agreed-upon $14 million, allegedly nearly doubling the asking price at the 11th hour. [more]

  • From left: Joe Sitt, 529 Broadway (credit: PropertyShark) and Jeff Sutton

    From left: Joe Sitt, 529 Broadway (credit: PropertyShark) and Jeff Sutton

    An ownership group made of retail developers Bobby Cayre, Jeff Sutton, Joseph Sitt and the Adjmi family has filed plans to add four stories to the two-story structure at 529 Broadway, which it purchased in December for a Soho record of $147.9 million. [more]

  • Jeff Sutton and 180 Broadway

    UPDATED: 9:00 a.m., Mar. 7:

    Urban Outfitters is continuing its aggressive expansion with a 21,000-square-foot lease at 180 Broadway, the building owned by retail tycoon Jeff Sutton, SL Green Realty and Harel Insurance, the New York Post reported.

    Sutton represented the owners on the deal at the 24-story building, which is located next door to the future Fulton Street Transit Center. Stephen Plourde and Wade McDevitt of the McDevitt Company represented Urban Outfitters. [more]

  • American Eagle makes nest in Harlem

    February 27, 2013 05:30PM

    From left: Jeff Sutton and 100 West 125th Street

    Preppy teen clothing retailer American Eagle has inked a lease for a Harlem location, the New York Post reported. The store has taken 8,500 square feet on the ground level of the Jeff Sutton-developed 100 West 125th Street. Rents on the ground floor cost $160 per square foot; the Post said that the 15-year deal should rake in $30 million during its term. [more]

  • Jeff Sutton and the Roxy Deli building

    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. [more]

  • Joe Sitt, Jeff Sutton and Faith Hope Consolo

    Commercial real estate brokers are livid that the city’s big  landlords are disregarding the broker’s “exclusives” with retailers by attempting to land tenants on their own, sources told the New York Observer. Large retail owners, including  Joe Sitt and Jeff Sutton, are being accused of “skipping the middle man,” which is “totally not kosher,” a president of a top city brokerage told the Commercial Observer. “It puts the retail brokers in a difficult spot and it is morally incorrect.” [more]

  • SL Green pays $122M for Soho retail

    January 31, 2013 03:45PM

    Source: The Real Deal analysis of Real Capital Analytics properties categorized as retail

    SL Green Realty added to its retail portfolio with the $122.3 million acquisition of store space in Soho, the ever-trendy neighborhood that has seen record-breaking levels of sales over the past year. [more]

  • Barry Gosin, Joe Sitt, Jeff Sutton 560 Broadway and  Jeff Sutton

    Wharton Properties President Jeff Sutton and Thor head Joseph Sitt are linking up to buy out a minority stake in 560 Broadway, a prime Soho commercial building on the corner of Prince Street. [more]

  • From left: Joe Sitt, Abe Goldstein, Jeff Sutton and 529 Broadway

    Over the past several years, some of the city’s top retail investors had been eyeing a small, down-in-the-tooth property at the corner of Spring Street and Broadway in Soho. Among its suitors: Vornado Realty Trust, SL Green Realty, Invesco and Crown Acquisitions. [more]

  • From left: Jeff Sutton, 529 Broadway and Joe Sitt

    Two of the city’s most active retail investors, Jeff Sutton and Joseph Sitt, have partnered to buy 529 Broadway, a centrally located commercial property in Soho, for about $150 million, several sources said. [more]

  • From left: Jeff Sutton and 45 Remsen Avenue (credit: PropertyShark)

    Retail landlord Jeff Sutton filed a lawsuit yesterday with the New York State Supreme Court against a Brownsville, Brooklyn funeral home — ostensibly over some $52,000 in unpaid rent. The tenant, the David Lane-Floyd Gilmore Funeral Service, was evicted, but there’s a hitch.

    Not everybody from the 36,000-square-foot premises has been vacated — namely an unknown number of cadavers; the dead bodies were to have been removed by August 31, but the suit alleges that the human remains are still inside the defunct funeral parlor. [more]

  • 1552 Broadway billboards

    Before Jeff Sutton transformed it into the darling of Manhattan retail, a Times Square retail building was part of a property tax-saving scheme, the New York Post reported. Between 2005 and 2010, 1552 Broadway, which Sutton purchased last year with SL Green Realty and lured Express as an anchor tenant, raked in millions from unregistered billboards.

    Because the owners, 1552 Broadway Owner Corp LLC (previously reported to be the Riese Organization restaurant group) failed to file the ad spaces with the city’s Department of Finance, they were never factored into the buildings valuations, and in turn, its tax bill. [more]


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