Jeff Sutton | The Real Deal New York

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Jeff Sutton

President
Wharton Properties
500 Fifth Avenue, 54th Floor
New York, NY 10110
(212) 573-6464
Website
Jeff Sutton
Jeff Sutton
Jeff Sutton is the founder and president of Wharton Properties, and one of the most prolific retail landlords in New York City, with an ownership stake in more than 120 properties. Forbes estimates his net worth at $3 billion. He and his firm own vast amounts of retail space in the five boroughs, including at marquee addresses such as 1551 and 1515 Broadway; 141 Fifth Avenue; 717 and 720 Fifth Avenue; and 379 West Broadway. All totaled, Sutton controls more than 120 properties in the city. He is also a regular partner on acquisitions and sales with SL Green Realty, the city's largest commercial landlord. A Brooklyn native and graduate of the University of Pennsylvania's business program the Wharton School (hence his firms name), Sutton got his start brokering store sites for Payless Shoes in the outer-boroughs. He gradually parlayed that into a major fortune. His clients and tenants have included brand names such as American Eagle, Nike and Prada. Sutton was born in 1960, and lives in the Flatbush section of Brooklyn with other members of New York's Syrian Jewish community, and also has a summer home in Deal, New Jersey.
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09/16/15
New York retail magnate Jeff Sutton will attempt to delay a $500 million public bond offering on the Tel Aviv Stock Exchange after poor market...
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09/14/15
Years after a partnership led by Jeff Sutton and SL Green Realty was forced to give it up, the five-story Times Square retail building at 1604-1610 Broadway has a...
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While developer David Marx’s debt issuance on the Tel Aviv Stock Exchange earlier this week fell considerably short of expectations, Israel’s burgeoning corporate bond market...
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09/09/15
Retail giant Jeff Sutton teamed with Bobby Cayre’s Aurora Capital to seal a 99-year triple net lease at 511 Fifth Avenue in Midtown. The 17-story,...
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06/26/15
From the June issue: The Hamptons aren’t the only summer game in town. Jeff Sutton, Joe Sitt and Stanley Chera are among the New York City...
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06/15/15
Sandeep Mathrani’s General Growth Properties is taking over leasing responsibilities at Brookfield Property Partners’ Brookfield Place in the Financial District. Tags: Brookfield Place, Brookfield Property...
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06/05/15
UPDATED, June 8, 11:15 a.m.:A Midtown synagogue that enlisted Jeff Sutton’s help to acquire its premises at 509 Fifth Avenue is now suing the retail mogul...
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06/05/15
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05/27/15
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05/22/15
From the May issue: The massive rise in store rents is prompting some Manhattan landlords and developers to reach deep into their wallets to convince retailers...
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05/19/15
ICSC attendees tweet their way through RECon 2015. (Photos, clockwise from top left: Twitter users @cbreRetail, @FireRunner, @HowardHughesCo and @JustinABeck) Between packed pool parties and...
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05/19/15
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  • Event Financing
  • Address 720 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 122,623
  • Price $ 165,000,000
notes
A $165 million first mortgage with a rate of 5.78 percent over a 10-year interest only term was secured for the property, which comprises approximately 100,000 sf square feet of class A office space and 23,000 square feet of retail space. A $35 million mezzanine loan from SL Green was arranged concurrently. comm. building.
  • Event Sales
  • Address 155 West 46th Street
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 12,860
  • Price $ 8,380,000
  • Price per foot $ 652.00
notes
The property sold to the 50-50 partnership for $8.38 million, or about $652 per square foot. The buyers plan to demolish the building in order to expand the selling area at a large retail project they are developing next door. The purchase figures into the larger repositioning of the landmarked four-story I. Miller Building at 1552 Broadway, which will be combined with the lower floors of the neighboring office building at 1560 Broadway. Those buildings are adjacent to the newly acquired structure.
  • Event Sales
  • Address 40 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 26,430
  • Price $ 16,000,000
  • Publication Date 04/01/2004
  • Event Date 02/21/2004
  • Party 2 Jeff Sutton
notes
[EMPTY]
  • Event Sales
  • Address 29 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 30,000,000
notes
The partners, who have teamed up for previous investments, acquired the properties for a total of $30 million. Includes 25-27 West 34th Street.
  • Event Sales
  • Address 21 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 102,500,000
notes
Sold for $102.5 million. Includes 1551 and 1555 Broadway.
  • Event Sales
  • Address NW Corner of 42nd Street and Eighth Avenue
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 30,000,000
  • Publication Date 04/01/2005
  • Event Date 02/20/2005
  • Party 1 HSBC Bank
  • Party 2 Group led by Jeff Sutton and Joe Cayre
notes
[EMPTY]
  • Event Sales
  • Address 1026 First Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 290,480
  • Price $ 109,000,000
notes
The 290,480 sf property sold for $109 million.
  • Event Sales
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 200,000,000
notes
In a buyout, the developer paid $200 million for the interests of two of his partners. The condo is located on the first four floors of the building. Office space on floors five through 26 is owned by Equity Office Properties.
  • Event Sales
  • Address 509 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 60,000
  • Price $ 39,750,000
notes
The property sold for $39.75 million, the New York Post reported. The buyers acquired the building as a tenants-in-common entity, a form of joint ownership of property. The group plans to redevelop the building into a Class A office and retail property after current tenant Israeli Discount Bank's lease for the upper nine floors runs out at the end of the year, according to the paper.
  • Event Sales
  • Address 141 Fifth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 100,000
  • Price $ 60,000,000
  • Publication Date 09/01/2005
  • Event Date 07/23/2005
  • Party 2 SL Green and Jeff Sutton
notes
Sold for $60 million; expected to close in Third quarter
  • Event Sales
  • Address 1565 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Price $ 30,000,000
  • Publication Date 04/01/2013
  • Event Date 02/20/2013
  • Party 2 Jeff Sutton
  • Party 2 Brokerage Valensi Realty
  • Party 2 Broker Jack Valensi, Jacob Sinai
notes
The property sold for about $30 million, the New York Post reported.
  • Event Sales
  • Address 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 15,000
  • Price $ 136,550,000
notes
The property sold for $136.55 million. The building is currently occupied by a T.G.I. Friday's location.
  • Event Retail Leasing
  • Address 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 27,000
notes
The apparel retailer signed a 15-year lease for a new store, the New York Post reported. Slated to open in fall 2013, the four-story building will be reconfigured into three stories to allow for higher ceilings, according to the paper.
  • Event Retail Leasing
  • Address 1551 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 25,000
notes
The apparel retailer signed a 15-year lease for a four-level space. The reported asking rent was in the $900-per-square-foot range. The new store could also support a 250-foot-high signage tower and 14,500 square feet of display space.
  • Event Retail Leasing
  • Address 1604 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 22,809
  • Publication Date 01/01/2007
  • Event Date 11/22/2006
  • Party 1 Jeff Sutton
  • Party 1 Brokerage Staubach Company
  • Party 1 Broker Patrick Smith, B. Taylor
  • Party 2 Spotlight
  • Party 2 Brokerage RKF
notes
The joint venture between Sutton and SL Green inked a deal with a partner in the Pure nightclub in Las Vegas. The new club, which is taking space formerly occupied by Noche, will span three high floors above the street level, as well as a penthouse aerie and possibly a rooftop level. The asking rent is a reported $2 million per year.
  • Event Retail Leasing
  • Address 599 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 20,000
  • Publication Date 03/01/2010
  • Event Date 01/20/2010
  • Party 1 Jeff Sutton
  • Party 2 American Eagle
notes
The apparel retailer signed a 15-year lease to relocate its Soho store. The reported asking rent was in the high $500s for the 7,000-square-foot space on the ground floor.
  • Event Retail Leasing
  • Address 560 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 7,000
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 1 Jeff Sutton
  • Party 2 Escada
notes
The fashion retailer signed a sublease for space previously occupied by Ann Taylor. Jeff Sutton purchased Ann Taylor's long-term lease, and then subleased the space to Escada.
  • Event Retail Leasing
  • Address 555 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 9,000
notes
The fashion house signed a 12-year lease. The space is currently occupied by Ann Taylor, but its lease was bought out to accommodate Hugo Boss.
  • Event Retail Leasing
  • Address 599 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 40,000
notes
The developer signed a 49-year lease for the retail space on the first, second and third floors as well as the basement. Sutton plans to sublease the entire four-story space to a single retailer.
  • Event Retail Leasing
  • Address 724 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 15,540
notes
The luxury shoes and accessories brand signed a lease renewal for its flagship store.
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 18,400
notes
The fashion house signed a 15-year lease. The space was previously occupied by Escada.
  • Event Retail Leasing
  • Address 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 40,000
notes
The fashion retailer inked a 15-year lease for its flagship store in the four-level retail condominium. The space was formerly occupied by Hugo Boss.
  • Event Retail Leasing
  • Address 747 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,300
  • Publication Date 03/01/2013
  • Event Date 01/20/2013
  • Party 1 Jeff Sutton, SL Green Realty
  • Party 1 Brokerage In-house
  • Party 2 Alexander McQueen
  • Party 2 Brokerage CBRE
  • Party 2 Broker Susan Kurland
notes
The designer signed a retail lease, the New York Post reported.
  • Event Retail Leasing
  • Address 21 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 30,000
notes
Apple net-leases the entire five-story building. The location will be its third Manhattan store.
  • Event Retail Leasing
  • Address 141 Fifth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 3,200
notes
The shoes and accessories retailer signed a 15-year lease. The lease of the previous tenant, Bath & Body Works, was bought out to accommodate Cole Haan, which plans to open the new store by fall 2009. The reported asking rent was $375 per square foot.
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