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.


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...

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...

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...

07/02/18
...Building to a group of investors led by Jeff Sutton for $1.78 billion...

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...

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...

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...

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...

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

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...

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...

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...

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...

03/12/18
...From left: Jeff Sutton, Marc Holliday and 530 Broadway Jeff Sutton’s Wharton Properties is taking over SL Green Realty’s $100 million investment in a...

03/05/18
...paying $55 million. It's also partnering with retail billionaire Jeff Sutton to develop a 300-unit complex In Jamaica at 90-02 168th Street. Meredith Marshall, co-founder...

02/14/18
...Center for Special Children in Lakewood, New Jersey. Jeff Sutton, Joe Cayre and Stanley and Haim Chera were among the attendees at the event...

01/29/18
...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...

12/20/17
...the building on Oct. 31. 7) Broadway Baby - $195 million Jeff Sutton and SL Green landed $195 million from the Singaporean lender United Overseas Bank to refinance...

12/13/17
...planning a project at 90-02 168th Street with Jeff Sutton that will include 300 rent-regulated apartments and 70,000 square feet of retail across three buildings. Representatives...

12/07/17
...major debt  this year to the likes of Jeff Sutton at 1552 Broadway ($195 million), Savanna at 106 West 56th Street ($100 million) and Victor Group at 277-...

12/06/17
...around the company was very excited. Also spotted: Jeff Sutton; Stonehenge Partners’ Ofer Yardeni; REBNY’s Jim Whelan and soon-to-be REBNY chair Bill Rudin...

12/05/17
...Broadway, Marc Holliday and Jeff Sutton Jeff Sutton and SL Green Realty scored a $195 million loan for their prime Times Square retail...

11/16/17
...Avenue. But business must go on, so investors Jeff Sutton and SL Green refinanced their hold on the retail space with $225 million from Aareal...

11/07/17
...of this story erroneously stated GGP partnered with Jeff Sutton on 685 Fifth; it is actually Thor Equities...

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...
  • 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.
  • 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 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 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 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 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 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 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 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 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 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.
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