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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.

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  • Event Financing
  • Address 1552 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 15,000
  • Price $ 195,000,000
notes
The ownership acquired a $195 million loan for the Times Square property.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • Event Retail Leasing
  • Address 141 Fifth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 3,200
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 1 Brokerage In-house
  • Party 2 Cole Haan
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Joanne Podell
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.
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  • Event Retail Leasing
  • Address 555 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 9,000
  • Publication Date 04/01/2008
  • Event Date 02/21/2008
  • Party 1 Scholastic
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 Hugo Boss
  • Party 2 Broker Jeff Sutton
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.
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  • Event Retail Leasing
  • Address 1551 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 25,000
  • Publication Date 01/01/2008
  • Event Date 11/22/2007
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 American Eagle Outfitters
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.
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  • 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.
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  • 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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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...

IBI recommends US companies in Tel Aviv
10/18/2017
The five companies highlighted by IBI were the Moinian Group, Related Companies, Jeff Sutton’s Wharton Properties, the California-based KBS, and Lightstone Group...

NYC's next wave of dynasties
09/01/2017
Wharton Properties, headed by Jeff Sutton, came  in at No...

Top 10 most valuable retail leases of 2016
12/27/2016
In late November, the company finalized a deal to lease more than 60,000 square feet at Jeff Sutton and SL Green Realty’s 650 Fifth Avenue...

These were the biggest real estate loans of Q3 2016
11/11/2016
Left to right: MTA CEO Thomas F. Prendergast and Hudson Yards 7 train, Sheldon Solow and the Solow Building We're really starting to see where Left to right: MTA CEO Thomas F. Prendergast and Hudson Yards 7 train, Sheldon Solow and the Solow Building We're really starting to see where...

Fifth (Avenue) Amendments
07/01/2016
“Generally speaking, it takes somebody with retail expertise, experience and tenant relationships to achieve what’s been accomplished along Fifth Avenue in these buildings,” said Woody Heller, head of the capital markets group at Savills Studley. “That’s the reason Haim Chera, Jeff Sutton, Joe Sitt and the others in that tight retail circle have been so successful.” Heller noted that whether the projects planned for Fifth Avenue actually proceed depends largely on if the developers secure financing...

Where the billionaires live
04/01/2016
While many of NYC’s billionaires made their fortunes in finance and media, 11 of them built â€' or inherited â€' real estate empires, including Stephen Ross, Richard LeFrak, Donald Trump, Jerry Speyer, Leonard Stern, Sheldon Solow, John Catsimatidis, Jeff Sutton, Mortimer Zuckerman, David Walentas, Alexander Rovt and Leon Charney (who died last month)...

The looming Fifth Avenue tax hike smack down
02/01/2016
The retail condo at 724 Fifth Avenue, which saw its assessment jump 59 percent to $93 million, logged the next highest increase. The landlords â€' SL Green Realty and investor Jeff Sutton â€' renewed a lease with fashion designer Prada in 2013 for 15 years, for about $19 million per year, insiders said...

Scorecard: Cushman & Wakefield leads landlord repping pack, but only just by a hair
12/21/2015
Despite record deals such as Jeff Sutton and GGP’s lease with Bulgari at 730 Fifth Avenue, which came in at $5,500 per square foot, other spaces have lingered on the market...

The Closers
09/01/2015
In that case, the firm represented Deutsche Bank in its $1 billion loan to Jeff Sutton’s Wharton Properties and General Growth Properties to buy 730 Fifth Avenue...

Dominating Deal
08/01/2015
Nearly a third of the properties in the New Jersey town of Deal are owned by New York City real estate families. Source: Deal Nearly a third of the properties in the New Jersey town of Deal are owned by New York City real estate families. Source: Deal...

CMBS borrowing up sharply
08/01/2015
Still, five of the top 10 loans were non-CMBS. Landlords such as General Growth Properties, investor Jeff Sutton and Vornado Realty Trust chose instead to borrow from a bank or life insurance company that will hold the loans on their books, or sell pieces to other lenders...

New buyers, one broker rule in 2014 building sales
01/02/2015
The soaring price of land, however, is not necessarily a deterrent for some developers. SL Green and Jeff Sutton; Extell Development; and Harry Macklowe broke the $1,000-per-square-foot mark for a development site for the first time in 2014...

Ranking Manhattan’s biggest retail buyers
12/01/2014
At the same time, Crown stepped back from smaller deals in Manhattan, with no acquisitions in emerging neighborhoods. Overall, it has made fewer, but larger, investments in the last few years than its dealmaking rivals such as Ashkenazy Acquisition, Thor Equities and Jeff Sutton’s Wharton Properties...

Super stores
05/01/2014
The ranking found that retail investor Jeff Sutton, either alone or in partnership with SL Green Realty, took in the most overall retail rental revenue within those top properties, with five assets raking in a combined $125 million...

2012’s biggest money makers
12/01/2012
Frankel sold the building for $223 million in late January to a partnership of Jeff Sutton and SL Green Realty, who together own the neighboring building at 720 Fifth Avenue...

Fifth Avenue's storefront shuffle
12/01/2011
Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not Click to enlarge Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it's not...
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...