Jeff Sutton, Reubens sell Madison Ave. retail to James Dyson for $135M

Purchase comes after Dyson’s family office picked up SoHo property

Sutton, Reubens Sell 747 Madison Ave. to Dyson
David Reuben, Jeff Sutton and Simon Reuben; 747 Madison Avenue; Dyson's James Dyson (Getty, Google Maps)

Madison Avenue’s Gold Coast shopping district may as well be renamed the billionaire boys club. 

Jeff Sutton and his partners the Reuben brothers sold the retail property that’s home to Versace at the corner of East 65th Street to vacuum mogul James Dyson for $135 million, property records show.

Dyson’s family office, Weybourne Holdings, purchased the retail co-op units at 747 Madison Avenue on August 4, property records show. PincusCo first reported news of the sale. 

Sutton, the Reubens and Dyson — each billionaires in their own rights — have a combined net worth of $18.6 billion, according to Forbes.

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Sutton’s Wharton Properties began assembling the property in 2011, buying the ground-floor retail space for $66 million and later adding the second-floor duplex at a cost of $2.6 million. He bought out his partners in 2013 — a deal that valued the property at $160 million.

Earlier this year, the British-based Reuben brothers — David and Simon — acquired a stake in the property.

The purchase is the latest New York property deal for Dyson’s UK-based Weybourne, which has been expanding its footprint in overseas real estate. The company earlier this year paid $60 million for the former home of Dolce & Gabbana in SoHo at 155 Mercer Street. That was a discount of more than $30 million to the price the property last traded for six years earlier.

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