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 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.


Development dreams? Laboz family has amassed $76M of property on Downtown Brooklyn block
01/16/19
...on a Downtown Brooklyn block from retail investor Jeff Sutton, paying $22 million for the small portfolio. The purchase at first appears innocuous, but if...

Here’s what the $20M-$30M NYC investment sales market looked like last week
01/16/19
...to develop a 500,000-square-foot mixed-use project there with Jeff Sutton’s Wharton Properties, but Wharton Properties is no longer part of the project. 2.) Former...

These were the top 10 NYC retail leases in December
01/08/19
...represented the tenant. The building’s landlords are Jeff Sutton and Eliot Tawil. 4) The North Face, 584 Broadway, Soho - 13,000 square feet The outdoor clothing...

Top retail leases for 2018 by annual rent
12/27/18
...a space controlled by SL Green Realty and Jeff Sutton’s Wharton Properties. 2) Tenant: Puma Rent: $8.9 million Address: 609 Fifth Avenue, Midtown Landlord: SL Green...

These were the 10 largest Manhattan real estate loans in October
11/27/18
...site. 4) Sitt & Sutton in Soho - $200 million Jeff Sutton’s Wharton Properties and Joseph Sitt’s Thor Equities refinanced 530-536 Broadway with a...

NYC’s next wave of dynasties
11/22/18
...onto the NOI ranking. Wharton Properties, headed by Jeff Sutton, came  in at No. 2 on that list, with $361.9 million in revenue from 2 million square...

SL Green is buying back $2 billion of its shares — is it rolling the dice?
11/12/18
...as a 50 percent stake in 724 Fifth Avenue to Jeff Sutton for $85.5 million. And the REIT announced in August that it went into contract to...

The top NYC office leases in October
11/05/18
...estate investment trust had bought out prior owner Jeff Sutton, and negotiated relocations and buyouts among its other tenants. WeWork will occupy the entire...

Sizing up SL Green’s big bet
...as a 50 percent stake in 724 Fifth Avenue to Jeff Sutton for $85.5 million. And the REIT announced in August that it went into contract to...

Sutton, Sitt score $305M refi for
530 Broadway
10/17/18
...Clockwise from top left: Jeff Sutton, 530 Broadway, and Joseph Sitt (Credit: Thor Equities) Jeff Sutton’s Wharton Properties and Joseph...

SL Green clears out 609 Fifth for WeWork
10/16/18
...a lender to the building’s prior owner Jeff Sutton but bought him out a few years ago. The building is now completely vacant...

Dominating Deal: The homes NYC’s Syrian Jewish real estate moguls own in this NJ hamlet
09/03/18
...other than its very apropos name? Retail magnate Jeff Sutton plans to demolish the 9,196-square-foot oceanfront house he purchased in 2012 for $22.6 million and rebuild...

SL Green secures $66M mortgage for Adidas’ Soho space
08/14/18
...its 50-percent stake in 724 Fifth Avenue to partner Jeff Sutton for $85.5 million. It also acquired the leasehold interest in 2 Herald Square and 1231 Third Avenue...

Wharton Properties lands $50M loan to refi Garment District property
08/13/18
...West 34th Street and Jeff Sutton (Credit: Google Maps) Jeff Sutton's Wharton Properties just landed $50 million to refinance one of...

Knotel inks lease for largest location in Soho to date
07/24/18
...according to a source familiar with the deal. Jeff Sutton’s Wharton Properties and Joe Sitt’s Thor Equities own the three interconnected buildings...

Winter Properties buys West Village commercial building for $89M
07/02/18
...Building to a group of investors led by Jeff Sutton for $1.78 billion...

Here are the quiet tricks NYC retail landlords use to boost rent rolls
06/29/18
...perception of the market. Insiders say billionaire investor Jeff Sutton is a master at orchestrating creative lease deals that maximize face rents. Several commercial...

SL Green to buy back another $500M in stock
06/14/18
...its 50 percent stake in 724 Fifth Avenue to partner Jeff Sutton for an $85.5 million profit and acquired the leasehold for 2 Herald Square in Midtown for...

The Israeli debt game is getting crowded. Here’s a look inside the battle to win US real estate business
06/12/18
...money raised, Americans pay many multiples of that. Jeff Sutton paid $6 million in underwriting fees (and $10 million in total expenses) for the $240 million he...

SL Green to pocket $85M from sale of 724 Fifth stake to Sutton
06/04/18
...From left: Marc Holliday, 724 Fifth Avenue and Jeff Sutton SL Green Realty sold its 50 percent stake in 724 Fifth Avenue to partner Jeff Sutton...

What to expect at RECon 2018
...absent this year due to Shauvot — such as Jeff Sutton of Wharton Properties and Alex Adjmi of A&H Acquisitions — will have to...

Major attendance shrinkage at the Wynn pool kicks off ICSC 2018: PHOTOS
05/21/18
...to major New York City retail figures like Jeff Sutton, Albert Laboz, Bobby Cayre and others skipping the four-day convention due to it overlapping...

What to expect this year at ICSC in Vegas
05/18/18
...absent this year due to Shauvot — such as Jeff Sutton of Wharton Properties and Alex Adjmi of A&H Acquisitions — will have to...

Here’s why the retail kings won’t hold court at ICSC this year
05/04/18
...left: Abraham Bergman, Aaron Jungreis, Ralph Herzka and Jeff Sutton Many of New York City’s largest retail owners, including Jeff Sutton and members...

Here’s what the $10M-$20M NYC investment sales market looked like last week
03/26/18
...chain Bonchon Chicken acquired a Chelsea building and Jeff Sutton bought a Brooklyn building occupied by Social Security Administration. 1.) South Korean restaurant franchise Bonchon...
For more info, click here
  • Event Financing
  • Address 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 15,000
  • Price $ 195,000,000
  • Publication Date 12/12/2017
  • Event Date 12/05/2017
  • Party 1 Jeff Sutton, SL Green Realty
  • Party 2 United Overseas Bank
notes
The ownership acquired a $195 million loan for the Times Square property.
For more info, click here
  • Event Retail Leasing
  • Address 650 Fifth Avenue
  • Neighborhood Central Midtown
  • Borough Manhattan
  • Square feet 30,000
notes
The sport apparel company signed a 15-year deal.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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, 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.
For more info, click here
  • 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 Outfitters
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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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 Outfitters
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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • 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.
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Scorecard: Cushman & Wakefield leads landlord repping pack, but only just by a hair
12/21/15
...s 640 Fifth Avenue. Despite record deals such as Jeff Sutton and GGP’s lease with Bulgari at 730 Fifth Avenue, which came in at $5,500 per...
650 Fifth Avenue
Manhattan, 10019
Jeff Sutton|Sl Green Realty, CUSHMAN & WAKEFIELD
650 Fifth Avenue is a 336,010 square foot property in the Midtown neighborhood...
650 5 Ave
Manhattan, 10019
Jeff Sutton|SL Green Realty, CUSHMAN & WAKEFIELD
This property is a new development. The developer(s) filed plans in November of...

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