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. []

Related Articles


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

The Crown Building and Jeff Sutton

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

Here’s what the $10M to $20M NYC i-sales market looked like last week

Sutton, Sitt score $305M refi for
530 Broadway

Dominating Deal: The homes NYC’s Syrian Jewish real estate moguls own in this NJ hamlet

Wharton Properties lands $50M loan to refi Garment District property