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Wharton Properties
Wharton Properties is a retail-focused commercial real estate developer and landlord owned and operated by Jeff Sutton, one of the biggest retail property owners in New York. Wharton owns and manages retail properties in some of New York's most important retail locations, such as Times Square, the gold coast of Fifth Avenue, 34th Street near the Empire State Building, and the Fulton Street Mall in Downtown Brooklyn. The company has been on the receiving end of some of the biggest retail leases in city history, such as the $350 million lease from Express at Times Square in 2012, and another $350 million lease for Prada's flagship store on Fifth Avenue in 2013. In 2011, Wharton partnered with SL Green Realty to purchase the retail property at 1552 Broadway (formerly a TGI Friday's) for $136 million.
The firm takes its name from the Wharton School of Business at the University of Pennsylvania, of which Sutton is a graduate.
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10/17/18
...Joseph Sitt (Credit: Thor Equities)
Jeff Sutton’s Wharton Properties and Joseph Sitt’s Thor Equities have nabbed a $305 million floating-rate loan on 530-...
09/03/18
...City properties that city records show his company Wharton Properties holds. Sutton purchased 91 Ocean Avenue in 2012 for $22.6 million, along with the adjacent plot at...
08/15/18
...rival involves Knotel, which took 49,000 square feet at Wharton Properties’ 530-536 Broadway...
08/13/18
...and Jeff Sutton (Credit: Google Maps)
Jeff Sutton's Wharton Properties just landed $50 million to refinance one of its retail properties in the Garment District...
07/24/18
...source familiar with the deal.
Jeff Sutton’s Wharton Properties and Joe Sitt’s Thor Equities own the three interconnected buildings at the corner...
06/29/18
...Landlords such as Crown, Thor and Sutton’s Wharton Properties act as fund managers, pooling money from wealthy families and institutions to buy properties...
06/12/18
...companies. That includes both first-timers like Sutton’s Wharton Properties and Israeli road show veterans like the Lightstone Group, Joel Gluck’s Spencer Equity...
...due to Shauvot — such as Jeff Sutton of Wharton Properties and Alex Adjmi of A&H Acquisitions — will have to make other plans...
05/18/18
...due to Shauvot — such as Jeff Sutton of Wharton Properties and Alex Adjmi of A&H Acquisitions — will have to make other plans...
03/12/18
...Sutton, Marc Holliday and 530 Broadway
Jeff Sutton’s Wharton Properties is taking over SL Green Realty’s $100 million investment in a trio of Soho...
01/29/18
...companies. That includes both first-timers like Sutton’s Wharton Properties and Israeli road show veterans like the Lightstone Group, Joel Gluck’s Spencer Equity...
10/20/17
...week that recommended the Moinian Group, Related Companies, Wharton Properties, KBS and Lightstone Group. All five have seen their yield spread trend downward comparable...
10/18/17
...the Moinian Group, Related Companies, Jeff Sutton’s Wharton Properties, the California-based KBS, and Lightstone Group. In terms of performance, all five have seen...
10/12/17
...NYC megaplayers like Extell Development’s Gary Barnett, Wharton Properties’ Jeff Sutton, the Related Companies and the CIM Group, that also includes smaller and...
...NYC megaplayers like Extell Development’s Gary Barnett, Wharton Properties’ Jeff Sutton, the Related Companies and the CIM Group, that also includes smaller and...
09/26/17
...Rendering of 90-02 168th Street (Credit: BRP Companies/Wharton Properties)
Jeff Sutton is branching out from marquee Manhattan projects and launching his next big...
09/13/17
...list made their way onto the NOI ranking. Wharton Properties, headed by Jeff Sutton, came in at No. 2 on that list, with $361.9 million in...
...list made their way onto the NOI ranking. Wharton Properties, headed by Jeff Sutton, came in at No. 2 on that list, with $361.9 million in...
...Landlords such as Crown, Thor and Sutton’s Wharton Properties act as fund managers, pooling money from wealthy families and institutions to buy properties...
08/30/17
...the billionaire real estate investor and founder of Wharton Properties, is reportedly planning to drop $15 million on his daughter Renee's wedding to Eliot Cohen...
08/22/17
...companies, including the debut of Jeff Sutton’s Wharton Properties.
Discount Bank is another firm that tried their hand in this market. Earlier this...
06/29/17
...Iran.
SL Green Realty and Jeff Sutton’s Wharton Properties own the long-term leasehold for the retail portion of the property. In June, Nike...
06/23/17
...of the index), Extell Development, Related Companies and Wharton Properties.
WeWork will go public, CEO confirms — just don’t ask him when
With CEO...
06/21/17
...like Extell Development, Related Companies and Jeff Sutton's Wharton Properties.
The index will trade at yields above the general corporate bond market in Israel...
05/23/17
...clients, where attendees included Thor Equities' Joe Sitt, Wharton Properties...
Wharton Properties, President
500 Fifth Avenue 54th Floor, New York, NY, (212) 573-6464
500 Fifth Avenue 54th Floor, New York, NY, (212) 573-6464
Jeff Sutton is the founder and president of Wharton Properties and one of...
- Event Financing
- Address 530 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 201,000
- Price $ 305,000,000
- Publication Date 10/22/2018
- Event Date 10/17/2018
- Party 1 Wharton Properties, Thor Equities
- Party 1 Brokerage JLL
- Party 1 Broker Aaron Appel, Michael Diaz, David Sitt, Eliott Zeitoune
- Party 2 Morgan Stanley
notes
The lender issued a loan of $305 million for the Soho portfolio.
- Event Financing
- Address 29 West 34th Street
- Neighborhood Garment District
- Borough Manhattan
- Square feet 17,750
- Price $ 50,000,000
- Publication Date 08/13/2018
- Event Date 08/13/2018
- Party 1 Wharton Properties
- Party 2 Landesbank
notes
The lender issued a loan of $50 million for the Garment District property.
- Event Office Leasing
- Address 530 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 49,000
- Price per foot $ 75.00
- Publication Date 07/30/2018
- Event Date 07/24/2018
- Party 1 Wharton Properties, Thor Equities
- Party 1 Brokerage Thor Equities
- Party 2 Knotel
- Party 2 Brokerage Sitt Ventures, Sherlock
- Party 2 Broker Robert Chattah, Aziz Kabbaj
notes
The flexible-office startup inked a 10-year lease for the Soho space at $75 per square foot.
- Event Financing
- Address 100 West 125th Street
- Neighborhood Central Harlem
- Borough Manhattan
- Square feet 200,000
- Price $ 125,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 Wharton Properties
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Aaron Birnbaum, Tal Savariego
- Party 2 Morgan Stanley, J.P. Morgan Chase
notes
The firm secured $125 million in balance sheet and mezzanine financing for the retail center.
- Event Financing
- Address 747 Madison Avenue; 29, 40 West 34th Street
- Neighborhood Lenox Hill
- Borough Manhattan
- Price $ 233,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 Wharton Properties
- Party 2 Tel Aviv Stock Exchange
notes
The retail mogul issued bonds valued at $233 million in the Tel Aviv Stock Exchange, yielding 3.9%, collateralized by an 18-asset portfolio.
- Event Financing
- Address 661 Eighth Avenue
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 17,667
- Price $ 60,000,000
- Publication Date 03/01/2017
- Event Date 01/15/2017
- Party 1 Wharton Properties, Crown Acquisitions, Midtown Equities
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Carol Shelby
- Party 2 Bank of China
notes
The retail portion of the property refinanced its debt with $60 million.
- Event Financing
- Address 724 Fifth Avenue
- Neighborhood Plaza District
- Borough Manhattan
- Square feet 66,000
- Price $ 235,000,000
- Publication Date 03/01/2017
- Event Date 01/15/2017
- Party 1 SL Green Realty, Wharton Properties
- Party 2 Aareal Capital Corporation
notes
The company secured a $235 million loan to refinance three office condominiums.
- Event Financing
- Address 21 West 34th Street
- Neighborhood Koreatown
- Borough Manhattan
- Square feet 19,054
- Price $ 101,000,000
- Publication Date 01/01/2017
- Event Date 11/17/2016
- Party 1 Signature Bank
- Party 2 Wharton Properties
notes
The company secured a $101 million loan to consolidate its previous loans for the retail building.
- Event Financing
- Address 529 Broadway
- Neighborhood SoHo
- Borough Manhattan
- Price $ 195,300,000
- Publication Date 10/01/2016
- Event Date 08/15/2016
- Party 1 Wharton Properties, Aurora Capital Associates, A&H Acquisitions, Thor Equities
- Party 2 UBS, Morgan Stanley
notes
The company secured a $195.3 million loan.
- Event Retail Leasing
- Address 2902 Third Avenue
- Neighborhood Harlem
- Borough Manhattan
- Square feet 1,100
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 Wharton Properties
- Party 1 Brokerage Wharton Properties
- Party 1 Broker Judah Schemo
- Party 2 City Mall
- Party 2 Brokerage Kassin Sabbagh Realty
- Party 2 Broker Albert Manopla
notes
The company signed a lease.
- Event Sales
- Address 275 Bleecker Street
- Neighborhood Soho
- Borough Manhattan
- Price $ 11,000,000
- Publication Date 04/01/2016
- Event Date 03/17/2016
- Party 2 Wharton Properties
- Party 2 Brokerage Marcus & Millichap
- Party 2 Broker Barbara Dansker, Zackary Ziskin
notes
The mixed-use building sold for $11 million.
- Event Retail Leasing
- Address 730 Fifth Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 9,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Wharton Properties, General Growth Properties
- Party 2 Ermenegildo Zegna
notes
The Milan based luxury retailer signed a lease for a new flagship store.
- Event Retail Leasing
- Address 2902 Third Avenue
- Neighborhood Harlem
- Borough Manhattan
- Square feet 800
- Publication Date 03/01/2016
- Event Date 01/01/2016
- Party 1 Wharton Properties
- Party 1 Broker Judah Schemo, Wharton Properties
- Party 2 City Mall
- Party 2 Brokerage Kassin Sabbagh Realty
- Party 2 Broker Albert Manopla
notes
The company signed a lease.
- Event Retail Leasing
- Address Fulton Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 1,200
- Publication Date 03/01/2016
- Event Date 01/01/2016
- Party 1 Wharton Properties
- Party 1 Brokerage Wharton Properties
- Party 1 Broker Judah Schemo
- Party 2 City Mall
- Party 2 Brokerage Kassin Sabbagh Realty
- Party 2 Broker Albert Manopla
notes
The company signed a lease.
- Event Retail Leasing
- Address 730 Fifth Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 3,000
- Price per foot $ 3,683.00
- Publication Date 12/01/2015
- Event Date 10/22/2015
- Party 1 Wharton Properties, General Growth Properties
- Party 2 Bulgari
notes
The Italian luxury brand signed a lease for a smaller location with an annual rent payment of about $16.5 million yielding a record price per foot of more than $5,500.
- Event Sales
- Address 511 Fifth Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 160,000
- Publication Date 10/01/2015
- Event Date 08/22/2015
- Party 1 group of family trusts
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Bruce Mosler, David Green, Louis Wolfowitz, Peyton Horn, Josh Kuriloff, Nat Rockett
- Party 2 Wharton Properties , Aurora Capital Associates
notes
The partnership signed a 99-year triple net lease for the building.
- Event Office Leasing
- Address 8 West 38th Street
- Neighborhood Garment District
- Borough Manhattan
- Square feet 1,689
- Publication Date 07/01/2015
- Event Date 05/22/2015
- Party 2 Zenga Baruffa
- Party 2 Brokerage Wharton Properties
- Event Retail leasing
- Address 100 West 125th Street
- Neighborhood Central Harlem
- Borough Manhattan
- Square feet 40,000
- Publication Date 07/01/2015
- Event Date 05/22/2015
- Party 1 Wharton Properties
- Party 2 Raymour & Flanigan
- Event Sales
- Address 85 Fifth Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 12,946
- Price $ 86,000,000
- Price per foot $ 6,642.98
- Publication Date 04/07/2015
- Event Date 02/26/2015
- Party 1 RFR Holding
- Party 2 Wharton Properties
- Party 2 Brokerage Cushman & Wakefield
- Event Sales
- Address 85 Fifth Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 102,991
- Price $ 86,000,000
- Price per foot $ 835.02
- Publication Date 02/01/2015
- Event Date 12/23/2014
- Party 1 Caguax
- Party 1 Brokerage Massey Knakal Realty Services
- Party 1 Broker Robert Knakal, John Ciraulo
- Party 2 Wharton Properties
notes
The retail building sold for $86 million.
- Event Residential Sales
- Building Name 325 East 79th Street
- Address Unit 11E, 325 East 79th Street
- Unit 11E
- Neighborhood Yorkville
- Borough Manhattan
- Price $ 960,000
- Publication Date 07/15/2013
- Event Date 06/26/2013
- Party 1 Wharton Properties
- Party 1 Entity Goldstein, Jeffrey
- Party 2 Cheng, Carmen; Moriarty, Colin
- Event Retail Leasing
- Address 100 West 125th Street
- Neighborhood Central Harlem
- Borough Manhattan
- Square feet 39,000
- Publication Date 12/01/2012
- Event Date 10/22/2012
- Party 1 Wharton Properties
- Party 1 Brokerage In-house
- Party 2 Whole Foods Market
- Party 2 Brokerage SCG Retail
- Party 2 Broker Jacqueline, Chase Welles
notes
The grocer signed a lease for another location, the New York Post reported.
- Event Retail Leasing
- Address 1552 Broadway
- Neighborhood Times Square
- Borough Manhattan
- Square feet 27,000
- Publication Date 07/01/2012
- Event Date 05/22/2012
- Party 1 Jeff Sutton, SL Green Realty
- Party 1 Brokerage Wharton Properties
- Party 1 Broker Wharton Properties
- Party 2 Express
- Party 2 Brokerage CBRE
- Party 2 Broker David LaPierre
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 Financing
- Address 717 Fifth Avenue
- Neighborhood Plaza District
- Borough Manhattan
- Square feet 115,630
- Publication Date 11/01/2008
- Event Date 09/22/2008
- Party 1 SL Green Realty, Wharton Properties
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker David Rosenberg, Seth Grossman
- Party 2 Royal Bank of Scotland
notes
A $285 million loan over a five-year, interest-only term was provided for the refinancing of the retail condo. retail condo
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...amp; Fitch look -- $400 million
Jeff Sutton’s Wharton Properties closed on a $400 million loan from JP Morgan Chase at 720 Fifth Avenue. The Plaza...
...in its $1 billion loan to Jeff Sutton’s Wharton Properties and General Growth Properties to buy 730 Fifth Avenue.
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...City properties that city records show his company Wharton Properties holds. Sutton purchased 91 Ocean Avenue in 2012 for $22.6 million, along with the adjacent plot at...
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