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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02/15/16
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  • Event Retail Leasing
  • Address 724 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 15,540
  • Publication Date 01/01/2014
  • Event Date 11/22/2013
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 2 Prada
notes
The luxury shoes and accessories brand signed a lease renewal for its flagship store.
  • 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 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 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 Sales
  • Address 509 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 60,000
  • Price $ 39,750,000
  • Publication Date 11/01/2012
  • Event Date 09/22/2012
  • Party 1 Norman Sturner
  • Party 1 Brokerage Eastern Consolidated
  • Party 1 Broker Brian Ezratty, Peter Hauspurg
  • Party 2 Chabad, Jeff Sutton, Aurora Capital, Alex Adjmi
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 $ 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 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 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 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 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 15,000
  • Price $ 136,550,000
  • Publication Date 10/01/2011
  • Event Date 08/22/2011
  • Party 1 Riese Organization
  • Party 1 Brokerage JLL
  • Party 1 Broker Jon Caplan, Richard Baxter, Ron Cohen, Scott Latham
  • Party 2 SL Green Realty, Jeff Sutton
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
  • Publication Date 09/01/2011
  • Event Date 07/23/2011
  • Party 1 Jeff Sutton, SL Green Realty
  • Party 2 Dolce & Gabbana
notes
The fashion house signed a 15-year lease. The space was previously occupied by Escada.
  • 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 141 Fifth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 3,200
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 1 Brokerage In-house
  • Party 2 Cole Haan
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Joanne Podell
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 555 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 9,000
  • Publication Date 04/01/2008
  • Event Date 02/21/2008
  • Party 1 Scholastic
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 Hugo Boss
  • Party 2 Broker Jeff Sutton
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
  • Publication Date 04/01/2008
  • Event Date 02/21/2008
  • Party 1 David Topping
  • Party 2 Jeff Sutton
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 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
  • Publication Date 12/01/2007
  • Event Date 10/22/2007
  • Party 1 Taconic Investment Partners
  • Party 1 Brokerage RKF
  • Party 1 Broker Robert Futterman, Karen Bellantoni
  • Party 2 Hugo Boss
  • Party 2 Brokerage NYC Prime Realty
  • Party 2 Broker Jeff Sutton
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
  • Publication Date 07/01/2007
  • Event Date 05/22/2007
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 2 Giorgio Armani
  • Party 2 Brokerage PBS Real Estate
  • Party 2 Broker Laura Pomerantz
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
  • 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 Financing
  • Address 720 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 122,623
  • Price $ 165,000,000
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 1 Jeff Sutton, Wharton Realty
  • Party 1 Brokerage Meridian Capital Group
  • Party 1 Broker Aaron Birnbaum, David Rosenberg, Seth Grossman, Rael Gervis
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 717 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 200,000,000
  • Publication Date 11/01/2006
  • Event Date 09/22/2006
  • Party 1 Jeffrey Feil, Lloyd Goldman
  • Party 2 Jeff Sutton
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 29 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Price $ 30,000,000
  • Publication Date 06/01/2006
  • Event Date 04/22/2006
  • Party 2 SL Green Realty, Jeff Sutton
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 Retail Leasing
  • Address 21 West 34th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 30,000
  • Publication Date 02/01/2006
  • Event Date 12/23/2005
  • Party 1 Jeff Sutton, SL Green Realty Realty Trust
  • Party 2 Apple Computers
  • Party 2 Brokerage RKF
  • Party 2 Broker Karen Bellantoni, Robert Futterman
notes
Apple net-leases the entire five-story building. The location will be its third Manhattan store.
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