Retail mogul Jeff Sutton helped a Brooklyn Jewish school make a multimillion-dollar purchase in Gravesend.
Magen David Yeshivah paid $13.8 million for three properties at 1905, 1911 and 1915 McDonald Avenue for a new high school, with Sutton assisting in the negotiations, according to a source familiar with the deal.
Sutton, one of the city’s biggest retail landlords, owns several notable properties on Fifth Avenue with tenants including Prada, Dolce & Gabbana, Armani and Versace, among others.
A Sephardic high school at 7801 Bay Parkway, Magen David Yeshivah plans to demolish warehouses at the McDonald Avenue site to make room for the new school, the source told The Real Deal.
The Gravesend purchase, which consisted of an $11.5 million sale of 1905 and 1911 McDonald Avenue and a $2.3 million sale of 1915 McDonald Avenue, closed on Monday and hit city records a day later.
Sutton’s business address was listed on behalf of the buyer entity, MDY Quentin, though a source said Sutton — who has long been affiliated with Magen David Yeshivah — did not participate financially in the deal.
Magen David was founded in 1946 and also runs an elementary school at 2130 McDonald Avenue and an early childhood center at 2170 McDonald Avenue. It will eventually relocate its high school to the new building.
Gravesend is the home base of Sutton and many other Syrian Jews who have made their fortunes in New York City’s retail and garment industries.
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