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.


US can seize Iran-owned 650 Fifth
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...

Israel to launch index of North American real estate companies
06/21/17
...York heavyweights like Extell Development, Related Companies and Jeff Sutton...

Cushman’s Podell wins REBNY retail award for big Nike deal on Fifth Ave.
06/14/17
...its 60,000-square-foot lease at SL Green Realty and Jeff Sutton...

ICSC 2017 RECon attendees on adjusting to a new reality: PHOTOS
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...

ICSC 2017: The excess at XS
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...

New York’s retail royalty hits the Wynn
Las Vegas pool: PHOTOS
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...

Zegna to move corporate offices to
SL Green’s 10 East 53rd Street
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...

On Israeli bond market, “The Americans” are now family
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...

UK startup wants to profit from New York’s retail vacancy epidemic
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...

NYC real estate players are wasting no time backing Trump’s 2020 run
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...

Madison steps in as manager of Toledano’s EV portfolio
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...

Top hedge funder says retail slump is a “forever trend”
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...

Toledano’s Brookhill files for Chapter 11 on EV buildings, and his $145M deal with Sutton is no longer happening
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...

Manhattan retail landlords now offering big tenant giveaways to avoid cutting rents
03/28/17
...Bloomberg reported. For example, SL Green Realty and Jeff Sutton offered to takeover Nike's lease at Trump Tower to make way for its $700 million...

Here’s where NYC’s real estate players ranked on Forbes’ billionaires list
03/21/17
...a net worth pegged at $3.7 billion. Retail magnate Jeff Sutton -- who has $3.6 billion -- came in at 522nd. President Donald Trump worth is...

Jeff Sutton secures $125M to refi Harlem retail building
03/10/17
...Jeff Sutton and 100 West 125th Street in Harlem (Credit: Meridian Capital Group via CO) Jeff Sutton...

Copperline raises $75M on the Israeli bond market
02/24/17
...projects deemed risky. Earlier this week, retail mogul Jeff Sutton raised $233 million through bond sales in Israel, as The Real Deal first reported.  --...

Owner of Greenpoint portfolio dodges foreclosure with sale to Black Spruce
02/23/17
...is engineering a sale of the portfolio to Jeff Sutton for about $145 million...

Jeff Sutton raises $233M on Tel Aviv bond market
02/21/17
...Jeff Sutton Jeff Sutton completed an institutional tender on the Tel Aviv Stock Exchange, raising $233 million at an...

David Winter scoops up $30M UES home
02/14/17
...Building to a group of investors lead by Jeff Sutton for $1.78 billion. In an interview with the New York Times in 2015, Winter said his...

Terror victim asks US government to seize 650 Fifth Ave.
02/09/17
...a joint venture between SL Green Realty and Jeff Sutton...

Jeff Sutton begins $100M bond issue on Tel Aviv market
02/08/17
...From left: 747 Madison Avenue, 40 West 34th Street and Jeff Sutton Jeff Sutton is seeking to raise up to $100 million in bonds on the Israeli...

Foreclosure looms over Toledano as he nears deal to sell EV portfolio to Sutton
02/06/17
...sources said Joseph Sutton, son of retail mogul Jeff Sutton, signed a hard contract to buy the buildings from Toledano for about $145 million. Madison...

SL Green, Sutton bag $235M loan at 724 Fifth Avenue
01/27/17
...From left: Marc Holliday, 724 Fifth Avenue and Jeff Sutton SL Green and Jeff Sutton's Wharton Properties pulled off a $235 million loan to refinance...

Sutton refis Times Sq. retail building with $60M loan
01/20/17
...Eighth Avenue and Jeff Sutton A group of investors led by Jeff Sutton refinanced a Times Square retail 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 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 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 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.
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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 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 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 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.
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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.
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 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 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 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
  • Publication Date 07/01/2007
  • Event Date 05/22/2007
  • Party 1 SL Green Realty, Jeff Sutton
  • Party 2 Giorgio Armani
  • Party 2 Brokerage PBS Realty Advisors
  • Party 2 Broker Laura Pomerantz
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.
For more info, click here
  • 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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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 Fifth Avenue
Manhattan, 10019
650 FIFTH AVENUE COMP
650 Fifth Avenue is a 492-foot office skyscraper in Midtown, Manhattan. It was...
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