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 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.


10/18/17
...by IBI were the Moinian Group, Related Companies, Jeff Sutton’s Wharton Properties, the California-based KBS, and Lightstone Group. In terms of performance, all...

10/18/17
...From left: Jeff Sutton, Richard LeFrak, President Donald Trump and Stephen Ross New York’s real estate titans...

10/12/17
...refinance at NYC's 650 Fifth SL Green Realty and Jeff Sutton once again turned to German lender Aareal Bank with the recent refinance deal for...

10/12/17
...like Extell Development’s Gary Barnett, Wharton Properties’ Jeff Sutton, the Related Companies and the CIM Group, that also includes smaller and midsized firms...

10/10/17
...From left: Jeff Sutton, SL Green's Marc Holliday and Aareal's Hermann Merkens SL Green Realty and Jeff Sutton...

09/26/17
...Jeff Sutton and Rendering of 90-02 168th Street (Credit: BRP Companies/Wharton Properties) Jeff Sutton is...

09/13/17
...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...

09/01/17
...of the 395,000-square-foot, 36-story property (SL Green and Jeff Sutton own the retail component at the base, where Nike signed a record-breaking lease in...

08/30/17
...Jeff Sutton and Lido Di Santo Stefano (credit: Trip Advisor) From LLNYC: UPDATED, Aug. 30, 1:30 p.m...

08/25/17
...a record retail deal at SL Green and Jeff Sutton...

08/22/17
...issuances by American companies, including the debut of Jeff Sutton’s Wharton Properties. Discount Bank is another firm that tried their hand in this...

07/31/17
...a reported $500 million from General Growth Properties and Jeff Sutton. In addition to Apollo, office tenants in place when the Crown Building changed hands...

06/29/17
...knowingly partnered with Iran. SL Green Realty and Jeff Sutton’s Wharton Properties own the long-term leasehold for the retail portion of the property...

06/21/17
...York heavyweights like Extell Development, Related Companies and Jeff Sutton...

06/14/17
...its 60,000-square-foot lease at SL Green Realty and Jeff Sutton...

05/23/17
...attendees included Thor Equities' Joe Sitt, Wharton Properties' Jeff Sutton and Alex Adjmi. Ralph Herzka gave a speech about the firm's growth, which was...

05/22/17
...such thing here, however. Sometime after 1 a.m., Jeff Sutton of Wharton Properties strolled in with his son Joseph, making a rockstar entrance at...

05/22/17
...holding court at cabanas and pool chairs included Jeff Sutton of Wharton Properties, Jeff Winick of Winick Realty Group, Crown Acquisitions' Stanley Chera, Bobby...

05/09/17
...feet in the building, which is owned by Jeff Sutton’s Wharton Properties and General Growth Properties. The asking rent was reportedly $4,000 per square...

05/04/17
...From left: Allen Gross, David Marx, Jeff Sutton and Tel Aviv (Credit: Getty Images) In 2015 and early 2016, the Israeli bond market had...

04/19/17
...Current listings include an 8,000-square foot storefront at Jeff Sutton and Aurora Capital’s 511 Fifth Avenue asking $45,000 per day, a 50,000-square-foot warehouse in the...

04/17/17
...in his presidency. Eliot Tawil, a principal at Jeff Sutton’s Wharton Properties, donated $50,000 to the Trump Victory political action committee, campaign finance records...

04/17/17
...contract to sell the buildings to Joseph Sutton, Jeff Sutton’s son, for about $145 million, but that deal was called off. Madison, which has...

04/03/17
...City retail landlords including SL Green Realty and Jeff Sutton are offering major tenant perks in order to lure tenants. Joe Sitt’s Thor...

03/29/17
...portfolio to Joseph Sutton, son of retail mogul Jeff Sutton, for $145 million, but sources said that deal is now off the table. The bankruptcy...
  • 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.
  • 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.
  • 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.
  • 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.
  • 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, 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 747 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,300
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
  • 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.
  • 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.
  • 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 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 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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
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 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.
  • 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.
  • 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
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
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
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.
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