Sutton buys $22.6M NJ mansion

TRD New York /
Jan.January 16, 2012 09:00 AM

New York City commercial real estate magnate Jeff Sutton, a frequent collaborator with SL Green Realty, purchased a $22.6 million home in New Jersey, the Asbury Park Press reported.

Overlooking the Atlantic Ocean in Deal, N.J., a borough of Monmouth County, the landmarked, two-story home at 91 Ocean Avenue has 12,000 square feet on 5.3 acres of property with 350 feet of private beach.

The deal closed in December and is among the highest prices paid for a Monmouth County home, according to Asbury Park Press, despite coming in well below the initial $35 million asking price. Sutton, who was represented by G&G Realtors broker associate Steven Scheer, plans to renovate the home after it was left in some disrepair by the estate of Ruth Sampson. Bruce Germinsky, owner of BG Realty Services, represented the estate.

Sutton, who is the president of Wharton Properties, was active in commercial sales during the latter parts of 2011, partnering with SL Green to purchase 1552 Broadway and a 10-building portfolio, while selling a Fifth Avenue retail condominium. [APP.com]


Related Articles

arrow_forward_ios
Michael Shvo, Thor Equities’ Joe Sitt, Wharton Properties’ Jeff Sutton and 530 Broadway

Michael Shvo closes on Soho retail building for $382M

Michael Shvo closes on Soho retail building for $382M
Michael Shvo and 530 Broadway with Joe Sitt of Thor Equities and Jeff Sutton of Wharton Properties (inset) 

Michael Shvo secures $210M loan for 530 Broadway buy

Michael Shvo secures $210M loan for 530 Broadway buy
Wharton Properties' Jeff Sutton, Thor Equities' Joe Sitt, 530 Broadway and Michael Shvo

Jeff Sutton and Joe Sitt are selling 530 Broadway for $400M

Jeff Sutton and Joe Sitt are selling 530 Broadway for $400M
Jeff Sutton and the Prada storefront at 724 Fifth Avenue (Credit: Google Maps)

Prada gives landlord Jeff Sutton a lawsuit for Christmas

Prada gives landlord Jeff Sutton a lawsuit for Christmas
WeWork IPO pushed back, Manhattan DA subpoenas Trump Org taxes: Daily digest

WeWork IPO pushed back, Manhattan DA subpoenas Trump Org taxes: Daily digest

WeWork IPO pushed back, Manhattan DA subpoenas Trump Org taxes: Daily digest
From left: Jeff Sutton, Brookfield's Ric Clark, and Apollo's Leon Black with the Crown Building

Apollo to provide $800M loan for Crown Building

Apollo to provide $800M loan for Crown Building
The Crown Building and Jeff Sutton

Crown Building retail owners in talks with Natixis, Apollo, for $900M refi

Crown Building retail owners in talks with Natixis, Apollo, for $900M refi
Jeff Sutton and 747 Madison (Credit: Google Maps)

Jeff Sutton lands $90M refi for Madison Ave Gold Coast property

Jeff Sutton lands $90M refi for Madison Ave Gold Coast property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...