Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Jeff Sutton Increases His Footprint In Soho

Sutton will be acquiring the eleven story, three building  property on  530 Broadway in the Soho district of Manhattan,  from  Thor Equities in a  joint venture with the SL Green Realty Corporation.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

jeff-sutton and Stephen Green’,    SL Green

(L-R) Jeff Sutton and Stephen Green, SL Green

In a joint venture  with their long term trading partner, the  SL Green Realty Corporation,  Jeff Sutton’s Wharton Properties have recently closed their transaction to acquire a property situated at 530 Broadway, at the corner of Spring Street in the Soho district of Manhattan from Thor Equities, owned by Joseph Sitt.

The property,  which covers a total of  40, 000-square feet over eleven stories, is made up from three buildings, all of them connected. The ground floor level of the property has been designated for  retail space, with Eastern Mountain Sports currently the tenant.

The three building property sit directly opposite another Suttton owned property on  529 Broadway, this time in partnership with  Aurora Capital Associates and Thor Equities, which is currently being converted  to a 34, 000-square-foot building for reatil only use.

According to Manhattan commercial  real estate mavens, the property had been on the market for more than a year, although Sutton and Sitt had agreed on a price in September, although the transaction only became official in the last few days.

530-Broadway

530 Broadway

Jeff Sutton began his career in the ultra competitive New York property market as an agent between potential tenants and existing landlords, gradually buying up properties for rent. Gradually Sutton began to acquire the property assets of entire retail chains. As he began to make his his presence increasingly felt on the New York property market during the 1990s, Sutton began to form a working relationship with SL Green Realty which has remained strong and intact to to this day.

Sutton now controls some of the  most prestigious  properties in Manhattan, including the 33, 000-square-foot American Eagle situated at the corner of Broadway and Houston Street; the 40, 000-square-foot Armani flagship store on  717 Fifth Avenue as well as a number of prime retail properties around Manhattan, many  of  them jointly leased  with SL green .

529-Broadway-Spring-and-Broadway Jeff Sutton

 

529 Broadway: Spring and Broadway

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.