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. 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 firm's 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. He also has a summer home in Deal, New Jersey.
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09/08/16
Arik Lifshitz’s DSA Property Group is in contract to buy a 15-story dormitory building in the Financial District from Pace University for $51 million, sources...

08/29/16
...Governors Island: Mayor taps Related exec to head island overhaul 4. Jeff Sutton secures $195M to refi 529 Broadway 5. Inside the Hudson Yards financing...

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08/26/16
...Broadway and Jeff Sutton Jeff Sutton...

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07/28/16
Kale could be a rent killer for long-term residents of Central Harlem. A Whole Foods grocery store set to open in at 100 West 125th...

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07/28/16
Like Williamsburg, One Wall Street is now officially over. Harry Macklowe landed Whole Foods as a retail tenant at his Financial District condo conversion project....

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07/21/16
A federal appeals court ruled that the United States can’t seize a majority stake in office tower 650 Fifth Avenue due to “insufficient evidence” that...

06/10/16
...Extell sues Port Authority to gain insight into bidding process 5. Jeff Sutton and SL Green market Express’ Times Square space...

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06/08/16
...Marc Holliday (above) and Jeff Sutton with 1552 Broadway in Times Square UPDATED, 10:44 p.m., June 8: Fast...

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06/01/16
...From left: Joseph and Jeff Sutton, and 132-134 Jefferson Street (Credit: PropertyShark) The apple doesn't fall...

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06/01/16
...Avenue at 57th Street in Midtown (inset: Sandeep Mathrani and Jeff Sutton) Jeff Sutton and Sandeep Mathrani are moving forward with plans...

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05/26/16
Nashville’s Grand Ole Opry is heading north … of the Times Square bow tie. Ryman Hospitality, the publicly traded parent company of the country music...

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05/23/16
...industry's biggest players were at the Wynn European pool, including Jeff Sutton of Wharton Properties, Paul Massey of Cushman & Wakefield, Isaac...

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05/11/16
...From left: Jeff Sutton, 144 Fifth Avenue (center) in the Flatiron District, and Frye boots...

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05/11/16
...The roadshow can sometimes trip up the biggest of players. Jeff Sutton’s Wharton Properties, for example, attempted a record $500 million issuance...

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04/14/16
General Growth Properties CEO Sandeep Mathrani says a recession is coming, albeit a mild one. The retail chief, whose company owns a stake in Manhattan’s famed...

04/13/16
...at One57 2. Here’s where New York’s billionaires live 3. Jeff Sutton, SL Green put 530 Broadway on the market 4. Carlyle, 60 Guilders buy...

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04/12/16
...Donald Trump, Jerry Speyer, Leonard Stern, Sheldon Solow, John Catsimatidis, Jeff Sutton, Mortimer Zuckerman, David Walentas, Alexander Rovt and Leon Charney (who...

530
04/11/16
...-536 Broadway in Soho (inset: Jeff Sutton and SL Green's Marc Holliday) Jeff Sutton and SL Green...

Investment sales
03/21/16
...in East Harlem and 275 Bleecker Street in the West Village 1.) Jeff Sutton purchased a a four-story, mixed-use building along Bleecker Street in...

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03/16/16
...Wooster Street in Soho (inset: Jeff Sutton) UPDATED, March 16, 12:26 p.m.: Toronto-based parka maker Canada Goose will...

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03/08/16
Pace University is looking to sell a 15-story Financial District dormitory building its brokers say is prime for a condominium conversion. The university is shopping 106-108...

Sandeep Mathrani Jeff Sutton
03/02/16
...Fifth Avenue in Midtown (inset from left: Sandeep Mathrani and Jeff Sutton) Ermenegildo Zegna plans to open a new flagship store, right...

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02/15/16
UPDATED, 5:30 p.m., Feb. 15: Spitzer Enterprises boss and former New York Gov. Eliot Spitzer is under investigation by the NYPD after a woman accused...

Fried-Frank-feature
01/18/16
...the likes of Rudin Management CEO Bill Rudin, retail magnate Jeff Sutton and Empire State Realty Trust CEO Tony Malkin. The holiday...

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01/12/16
Stock brokers need kale too. At least Harry Macklowe seems to think so. Tags: Harry Macklowe, one wall street, whole foods ...
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  • Event Retail Leasing
  • Address 509 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 3,500
  • Publication Date 02/01/2015
  • Event Date 12/18/2014
  • Party 1 Jeff Sutton
  • Party 2 Skechers
notes
The shoe brand signed a 15-year lease. Skechers will replace shoe retailer Steve Madden.
  • 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 100 West 125th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 8,500
  • Publication Date 04/01/2013
  • Event Date 02/20/2013
  • Party 1 Jeff Sutton
  • Party 2 American Eagle
notes
The apparel retailer signed a lease for ground-floor and mezzanine-level space in a retail project that will also be tenanted by Burlington Coat Factory and Whole Foods, the New York Post reported. The asking rent on the ground floor was $160 per square foot, according to the Post.
  • 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 Retail Leasing
  • Address 180 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 21,000
  • Publication Date 04/01/2013
  • Event Date 02/20/2013
  • Party 1 Jeff Sutton, SL Green Realty Realty, Harel Insurance
  • Party 1 Brokerage In-house
  • Party 2 Urban Outfitters
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Stephen Plourde, Wade McDevitt
notes
The fashion retailer signed a 15-year lease for multilevel space, the New York Post reported. The space consists of 1,500 square feet on the ground floor, 6,000 square feet on the lower level and 6,700 square feet on each of the second and third floors.
  • Event Retail Leasing
  • Address 747 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,300
notes
The designer signed a retail lease, the New York Post reported.
  • Event Sales
  • Address 509 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 60,000
  • Price $ 39,750,000
  • Price per foot $ 662.50
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 155 West 46th Street
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 12,860
  • Price $ 8,380,000
  • Price per foot $ 651.63
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 Retail Leasing
  • Address 100 West 125th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 70,000
  • Publication Date 07/01/2012
  • Event Date 05/22/2012
  • Party 1 Jeff Sutton
  • Party 1 Brokerage Wharton Properties
  • Party 1 Broker Wharton Properties
  • Party 2 Burlington Coat Factory
  • Party 2 Brokerage CNS Real Estate
  • Party 2 Broker Cliff Simon
notes
The outerwear retailer signed a 15-year lease for three levels of space at a new shopping center currently under development, the New York Post reported.
  • 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 Sales
  • Address 1026 First Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 290,480
  • Price $ 109,000,000
  • Price per foot $ 375.24
notes
The 290,480 sf property sold for $109 million.
  • Event Sales
  • Address 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 15,000
  • Price $ 136,550,000
  • Price per foot $ 9,103.33
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 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 466 Fulton Street
  • Neighborhood Battery Park City
  • Borough Manhattan
  • Square feet 2,200
  • Publication Date 05/01/2011
  • Event Date 03/17/2011
  • Party 1 Jeff Sutton
  • Party 1 Brokerage Represented in-house
  • Party 2 Aldo
  • Party 2 Broker Amira Yunis
notes
The shoe retailer signed a 15-year lease for another location.
  • 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 408 Fulton Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 30,000
notes
The thrift-store operator signed a 15-year lease to open a Unique Thrift Store. The reported asking rent for the space, comprising the basement, ground, second and third floors, was $35 per square foot.
  • 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 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.
  • 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 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 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 401 West 14th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 4,100
notes
The fashion house signed a lease for a new location in the former Western Beef building, where Apple is opening a store. The reported asking rent for a smaller space in the building was $500 per square foot, compared to the $75-per-square-foot price from two years ago for retail space in the area.
  • 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 1604 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 22,809
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 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.
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