La Dolce Vita: Jeff Sutton said to spend $15M on daughter’s Italian wedding

From LLNYC: UPDATED, Aug. 30, 1:30 p.m.: Jeff Sutton, the billionaire real estate investor and founder of Wharton Properties, is reportedly planning to drop $15 million on his daughter Renee’s wedding to Eliot Cohen this weekend.

According to the Commercial Observer, which translated reports from foreign newspapers, The Wedding Will Be Taking Place on a private beach of Lido Santo Stefano in Monopoli, Italy.

While it’s not clear how anyone arrived at the $15 million sum, the plans do sound pretty lavish. Over 400 guests are expected to attend the event (among them, Ivanka Trump), which will last a few days. Sutton is said to have hired three planes to fly guests between New York and Italy. Once they get there, those guests will be able to select their meals from a 20-page kosher menu. The couple is staying at the five-star Borgo Egnazia Hotel.

Renee Sutton and Eliot Cohen (credit: Twitter)

A source familiar with the wedding plans said the $15 million number “is not accurate,” but did not elaborate.

Sutton is worth about $3.6 billion from his retail ventures, according to Forbes. He has ownership stakes in some of the most valuable storefront property in the city, including the retail component of 650 Fifth Avenue, which will house Nike’s flagship store.

Sutton got his start as a retail broker, and his first client was the discount shoe brand Payless. Somehow we don’t think anyone will be wearing Payless to this wedding (though we would like to give credit to anyone who dares). [CO]