September 26
Jeff Sutton and BRP planning 300-unit Jamaica Project
Jeff Sutton is branching out from marquee Manhattan projects and launching his next development on the outskirts of Queens. Suttons' Wharton Properties is working with BRP Companies to build a 500,000-square-foot mixed-use projects...
June 16
Power, Politics, & a Martini Bar at the 10th Annual Power 100 Gala
Republican candidate for mayor, Paul Massey, kicked off Commercial Observer’s annual Power Gala event Wednesday at the Park Hyatt, celebrating the publication’s annual Power 100 and Power 50 lists, sniping at one of the honorees who wasn’t in attendance: Mayor Bill de Blasio (who ranked number 35 on the Power 100).
April 26
Power 100
There are few people in real estate who would question just how bad the last 12 months has been for retail—except, perhaps, if your name is Jeff Sutton.
March 10
Jeff Sutton secures $125M to refi Harlem retail building
Jeff Sutton’s Wharton Properties locked down $125 million to refinance its six-story retail building on West 125th Street in Harlem.
February 21
Jeff Sutton raises $233M on Tel Aviv bond market
Jeff Sutton completed an institutional tender on the Tel Aviv Stock Exchange, raising $233 million at an interest rate of 3.9 percent. The retail mogul began with a $100 million bond offering, and then more than doubled that to $243 million after demand from investors reached almost $500 million. In the public tender, which is slated to occur in the next week, Sutton can raise an additional $30 million.
January 31
Swarovski Returning to Times Square
If you think Times Square doesn’t boast enough glam and glitter, have a crystal heart. Swarovski is returning to the center of the bow-tie area — where Seventh Avenue and Broadway cross — with a new store coming to 1565 Broadway on the southwest corner of West 47th Street. The bling maker quietly leased the former Roxy diner in...
January 27
SL Green, Sutton bag $235M loan at 724 Fifth Avenue
SL Green and Jeff Sutton’s Wharton Properties pulled off a $235 million loan to refinance 724 Fifth Avenue, a 12-story building in the heart of the Plaza District that is home to Prada’s flagship in New York. Aareal Capital Corporation provided the loan, which replaces a $235 million loan from Goldman Sachs in 2014, loan documents show.
January 20
Sutton refis Times Sq. retail building with $60M loan
A group of investors led by Jeff Sutton refinanced a Times Square retail property occupied by Duane Reade with a $60 million loan from Bank of China. The bank is replacing a $60 million note securitized by Wells Fargo on the property at 661 Eighth Avenue that was set to mature on Jan. 11, the Commercial Observer reported. That loan carried an interest rate of roughly 5.9 percent. The new loan has a three-year term with a Libor-based floating rate that currently sits at 3 percent.
January 19
From Nike to Zara, NYC shopping has never been better
The imminent ascendance of New York real estate titan Donald Trump to the White House hasn’t just boosted the stock market. It also opened the deal-making floodgates as certainty returned to the city’s retail marketplace. “It’s Trump-enomics,” says Faith Hope Consolo, chairman of Douglas Elliman Retail. “Most companies, whether foreign or local, are going forward [to sign leases] — and that was from the day after the election. I got this flurry of interest.”
January 31
Nike built city’s largest retail store of 2016
Earlier this year, we revealed that TJX leased a store at 140 West St., which at 68,400 square feet was the largest retail deal completed Downtown in 2016. But the largest retail deal in the city was Nike’s at SL Green and Jeff Sutton’s 650 Fifth Ave., which squeaked by with an extra 814 square feet topping the year at 69,214 feet, and exceeding the all-time retail pricing at $700 million over the life of the lease.
DECEMBER 7
Sutton lands $101M Signature loan for 34th St. retail building
UPDATED, Jan. 5, 12:23 p.m.: Jeff Sutton’s Wharton Properties obtained a $101 million loan from Signature Bank to refinance its retail building at 21 West 34th Street, property records filed with the city Wednesday show.
NOVEMBER 30
Nike Swooshing Into New 70K SF Mega-Store on Fifth Avenue [Updated]
Nike has sealed a 15-year deal for a 69,214-square-foot store that spans seven floors at 650 Fifth Avenue near West 52nd Street (including the lower level), Commercial Observer has learned. The asking rent for the 7,000-square-foot ground floor was $4,000 per square foot, with a total starting rent of $34 million, a source with knowledge of the deal told CO. (Victoria’s Secret next door has 9,200 square feet at grade, with a starting rent of $31 million, the source noted.)
OCTOBER 6
Skechers ties up new Soho location
Retail landlord Jeff Sutton has tied a bow on a deal with the shoe shop Skechers to lease a prime corner on Broadway in Soho.
SEPTEMBER 09
Sutton, Aurora Capital Sign 99-Year Lease for 511 Fifth Avenue
Nike is swooshing into a huge, 70,000 square-foot store at 650 Fifth Ave. on the southwest corner of West 52 Street — across from Cartier and Olympic Tower.
MAY 11
Sutton, Maguire in talks to sign Frye at 144 Fifth: sources
UPDATED, 6:45 p.m., May 11: These boots are made for Sutton.
The Frye Company, a high-end leather boot retailer and manufacturer, is in late-stage negotiations to lease a ground-floor retail space at 144 Fifth Avenue, sources told The Real Deal. Jeff Sutton and partner Maguire Capital Group acquired the leasehold on the Flatiron District property less than a month ago.
APRIL 20
Power 100
Jeff Sutton Founder and President of Wharton Properties Last Year's Rank: 12 Previous 11/101 Next Last year, Jeff Sutton's Wharton Properties completed one of the biggest and most talked about purchases in New York City real estate: the Crown Building at 730 Fifth Avenue, a shining star in the firmament of New York's most coveted and luxurious strip of retail. The price tag was an unfathomable...
March 16
Canadas Goose migrates to Jeff Sutton's 101 Wooster Street
UPDATED, March 16, 12:26 p.m.: Toronto-based parka maker Canada Goose will take Patagonia’s old
space at Jeff Sutton’s 101 Wooster Street in Soho.
The retailer signed a lease for a 4,400-square-foot space at the early 1900s-era property, where
asking rent was about $550 per square foot, the New York Post reported...
MARCH 15
Apparel brand sets down between Spring & Prince
Quiet Soho is getting fluffed up with news of a new premium retailer landing at 101 Wooster St. between Spring and Prince streets.
March 02
Zegna to open flagship store t the Crown Building
Ermenegildo Zegna plans to open a new flagship store, right on Billionaires’ Row.
The luxury Italian clothier took 9,000 square feet across the lower two floors of
the Crown Building at 730 Fifth Avenue, which is owned by Jeff Sutton’s Wharton
Properties and Sandeep Mathrani’s General Growth Properties, the New York Post reported.
The firm’s CEO, Ermenegildo "Gildo" Zegna, grandson of the founder with the same name,
negotiated the deal...
DECEMBER 09
Jeff Sutton inks new deal with Bulgari at 730 Fifth
Jeff Sutton’s Wharton Properties and General Growth Properties re-signed
luxury retailer Bulgari to a new, 15-year deal at the Crown Building at
730 Fifth Avenue in Midtown, GGP said in its third-quarter earnings call last week.
Bulgari signed a new...
NOVEMBER 10
Bulgari ’s 730 Fifth lease sets new NYC retail record
Luxury retailer Bulgari’s new, 15-year lease at Wharton Properties and General Growth Properties’ 730 Fifth Avenue set a new city record with rents in excess of $5,000 per square foot, according to industry sourcesSources said the deal’s total value, once free rent and other considerations are ...
SEPTEMBER 09
Sutton, Aurora team on 99-year lease at 511 Fifth Avenue
Retail giant Jeff Sutton teamed with Bobby Cayre’s Aurora Capital to seal a 99-year triple net lease at 511 Fifth Avenue in Midtown....
The 17-story, 160,000-square-foot office building — located between East 42nd and East 43rd streets near Bryant Park and Grand Central Terminal – features roughly 20,000...
MAY 01
Observer - The Power 100
The media-exclusive king of New York retail, Jeff Sutton oversees a vast real estate kingdom: from...
APRIL 29
Sutton Closes on Crown Building
Last Friday, Jeff Sutton closed on the jewel of his Fifth Avenue empire - the Crown Building at 730 Fifth Avenue, which he purchased for a jaw-dropping $1.78 billion, with a $1.25 billion mortgage, that he bought with General...
JANUARY 12
Jeff Sutton pays $86M for Lower Fifth Ave. retail co-op
Less than a month after purchasing the Crown Building, Jeff Sutton’s Wharton Properties has purchased a lower Fifth Avenue retail co-op near Union Square for $86 million.
JANUARY 09
Skechers inks lease at Jeff Sutton’s 509 Fifth
Shoe brand Skechers inked a 15-year lease to take up 3,500 square feet at Jeff Sutton’s 509 Fifth Avenue. Two blocks south, Japanese design store Muji has inked a deal for 15,500...
DECEMBER 19
Sutton, GGP ’s $1.75B Crown Building buy sets world record
Jeff Sutton and General Growth Properties are buying the Crown Building at Fifth Avenue and 57th Street for $1.75 billion, only a day after it hit the market. The price comes down to $4,490 per square foot, which sets a new world record for the price of an entire office building, according to Real Capital Analytics data cited by Bloomberg News. The nearly 400,000-square-foot tower includes roughly 50,000 square feet of highly valuable retail space, where Bulgari and Mikimoto are located. Bank of America and Piaget also have locations in the...
MAY 01
Jeff Sutton, SL Green pocket $150M in Prada store refi
Retail investor Jeff Sutton, along with his frequent partner SL Green Realty, obtained approximately $150 million in proceeds from a mega-refinance of 724 Fifth Avenue, according to city property records and industry sources. The building is the Midtown flagship location for Italian luxury brand Prada...
APRIL 30
Power 100, 19 (29)
Mr. Sutton owns stakes in more than 120 properties citywide, including 717 Fifth Avenue and 650 Fifth Avenue (in which he, along with SL Green Realty Corporation, acquired a 49-year leasehold in the retail portion last November), and has signed names like Giorgio Armani and Abercrombie & Fitch into flagship stores. He reportedly told a group of Baruch College students recently that his real estate career took off following a chance encounter with a ...
APRIL 04
How a leaky roof jump-started Jeff Sutton’s real estate career
Jeff Sutton, the founder and president of retail giant Wharton Properties, made a rare public speaking appearance yesterday at Baruch College, addressing students as part of a management series.
The real estate mogul, who owns over 120 properties citywide including 717 Fifth Avenue and 650 Fifth Avenue, and has signed major leases for flagship stores like Giorgio Armani, American Eagle and Abercrombie & Fitch, spoke about his own personal history, the goals of his company and his keys to....
DECEMBER 11
Sutton, Givenchy revealed as 747 Madison buyer and tenant
Jeff Sutton has been unmasked as the buyer of the remaining 33.3 percent stake in the retail co-op at 747 Madison Avenues Colony House, and French fashion brand Givenchy was revealed as the mystery tenant taking space at the propertys base.
Formerly occupied by Valentino, the 2,800-square-foot block at 747 Madison at East 65th Street will be...
DECEMBER 11
Givenchy returning to Madison Avenue
If she were alive, Audrey Hepburn would have breakfast at Givenchys when it returns
to Madison Avenue next fall.
Between the Bricks has learned the haute couture designer has inked a deal to inhabit
a ritzy corner at 747 Madison next to its own former designer, Alexander McQueen.
The upcoming 2,800-square-foot storefront at the southeast corner of...
NOVEMBER 21
Stephen Green & Jeff Sutton Buy Out 650 Fifth Avenue Tenant Juicy Couture for $51 Million
New York commercial real estate company SL Green Realty is a major publicly listed real estate investment trust (REIT), founded in 1997 as the public successor corporation to SL Green Properties which had earlier been set up, in...
NOVEMBER 12
SL Green, Jeff Sutton Acquire Retail Leasehold at Controversial 650 Fifth Ave
The court-appointed federal monitor and interim trustee of the controversial commercial
tower at 650 Fifth Avenue has negotiated a deal for the retail space at the building.
SL Green Realty has partnered with Jeff Sutton to acquire a 49-year leasehold interest
in the retail portion of the Midtown property which has previously been linked to the...
SEPTEMBER 18
Sutton pays Sitt $327M for 530 Broadway
Retail mogul Jeff Sutton is in contract to buy a three-building site at 530 Broadway from frequent collaborator Joseph Sitt for $327 million, extending his dominance in Soho. The 11-story, 40,000-square-foot property was expected to fetch north of $300 million, when Sitt hired the Eastdil Secured duo of Douglas Harmon and Adam Spies in February to oversee the...
SEPTEMBER 17
Sutton is Broadway Bound
Retail magician Jeff Sutton is in contract to buy the three-building package
at 530 Broadway from Joseph Sitt’s Thor Equities for $327 million, tucking yet another
piece of Soho into his portfolio, we’ve learned.
Nearby, Sutton already owns No. 599; No. 560 with Jeff Gural of Newmark;
and the redevelopment site at No. 529 with Bobby Cayre and Alex Adjmi’s Aurora Capital,
where there is a proposal to develop a six-story historically sensitive 34,000-square-foot
retail project. Sutton also owns...
AUGUST 30
529 Broadway plans revealed
Cayre, Sutton, Sitt, Adjmi propose six-story retail building at Soho site.
A group of high-powered investors that includes Bobby Cayre and Jeff Sutton is
planning to clear the lot at 529 Broadway in Soho and put up an eye-catching
six-story retail building that resembles a hotel that stood there in the mid-1800s,
The Real Deal has learned exclusively.
The site, at the intersection of Broadway and Spring Street,
has a two-story commercial building
from 1935. The developers want to replace it with a...
MARCH 06
‘Urban’ revival
Urban Outfitters is staking out a 21,000-square-foot spot in the base of the brand-new
180 Broadway — right next to the new Fulton Transit Hub.
The fashion retailer has leased 1,500 square feet on the first floor as well as 6,700 square
feet on each of the entire second and third floors and a lower level of 6,000 square feet, sources said.
The economics make the deal worth...
FEBRUARY 20
Roxy : Sutton's Place
Retail maestro Jeff Sutton has scooped up another piece of the Times Square bow tie.
Sources tell us the premier orchestrator of his own retail development deals has
picked up the Roxy Deli building at 1565 Broadway.
The four-story, 21-foot wide by roughly 70-foot deep property — which is almost completely
covered with valuable signage — is opposite Times Square’s...
JANUARY 30
McQueen Moves to Madison Ave
Alexander McQueen is moving from the Meatpacking District to Madison Avenue.
Sources say the designers digs will encompass roughly 3,300 square feet at 747 Madison Ave.
In a newly created double-height storefront.
The Escada store was temporarily located in the north corner of the space,
formerly occupied by designer Valentino, while its new...
OCTOBER 17
Whole Foods to 125th Street
In what will be a game changer for the neighborhood, Whole Foods has inked a
deal to open in Harlem at 100 W. 125th St. on the southwest corner of Lenox Avenue.
The organic grocery chain also signed to open on the corner of...
OCTOBER 16
Whole Foods Plans New Stores for Harlem, Upper EastSide
Harlem's main shopping strip on 125th Street has attracted an H&M,
an Old Navy and a smattering of trendy eateries, but the area still doesn't
have a major grocery store. Now it is getting a Whole Foods.
The high-end grocery story is making a push uptown with plans to...
JULY 24
Sign of the Times
Sutton’s Place – Last Summer, few real estate experts believed paying $9,100 per square foot for a stocky two-story building was worth the risk. This year, nobody’s second guessing Jeff Sutton
By Daniel Geiger
Before Jeff Sutton and SL Green formed a partnership to acquire 1552 Broadway last summer, the diminutive landmark was best known for the...
MAY 29
Express to Times Square
Express Inc., the Midwestern fashion brand that has been searching for a foothold
in Times Square, has walked away from a deal to lease the former ESPN Zone space
in Times Square and picked a different location instead, according to people
familiar with the matter.
Express has leased roughly 30,000 square feet at 1552 Broadway, at 46th Street,
in a space currently occupied by a T.G.I. Friday's restaurant, according to...
APRIL 29
Power 100 2012
Even in this gluttonouse city, few people have the apetite for real estate that Mr Sutton has. The Brooklyn-born, Wharton School-educated Mr Sutton got his start in the outer boroughs (he famously began by writing leases for Payless Shoes in buildings he did...
SEPTEMBER 12
Venture Expands Retail Portfolio
Venture Expands Retail Portfolio, by Craig Karmin and Peter Grant.
An investment team that is landlord to some of the world's most elite fashion companies has
struck one of its most ambitious deals yet, scooping up Prada and Giorgio Armani stores as
part of a 10-building acquisition, according to...
SEPTEMBER 01
Big Retail Block To Times Square
Big retail block to Times Square, by Lois Weiss.
Retail-leasing king Jeff Sutton has cut a deal with neighboring Times Square owner
Jeff Gural to combine portions of the office building at 1560 Broadway with Sutton
and SL Green Realty Corp.’s recently purchased retail corner property at...
AUGUST 24
Unconventional strategy propelled Sutton to top of retail real estate world
Fresh off his joint $136 million purchase with SL Green of 1552 Broadway, the Times Square commercial property that houses TGI Friday's, Jeff Sutton has become one of the most prominent retail landlords in the city, The New York Observer said. According to the...
AUGUST 23
Sutton 's Place
Sutton 's Place by Tom Acitelli.
Mr. Dolce makes time for him, American Girls love him, Herald Square owes him—and you
can bet Jeff Sutton has no comment. If you've ever gone shopping in New York City,
you've likely been an unwitting guest of Jeff Sutton. He is a discreet host,
but an expansive one. Among other properties, he controls: the 33,000-squarefoot
American Eagle at the corner of Broadway and Houston Street; the 40,000-squarefoot
Armani flagship in 717 Fifth, soon to house an...
JULY 21
Sutton Loves Valentino Site
Sutton Loves Valentino Site, by Lois Weiss The steamrolling team of Jeff Sutton and SL Green Realty Corp. has just contracted to buy yet another high-profile fashion spot. This one is the Valentino-occupied southeast corner of East 65th Street at 747 Madison. According to CoStar data, the store at the base of the Colony House residential building has 6,700 square feet on the first floor and a 3,100-square-foot lower level currently used for storage. Sources say the purchase price is close to $65 million. The store has magnificent high ceilings due to an...
JULY 20
Jeff Sutton, SL Green buy Madison Avenue store for $65M
Prominent Manhattan landlord Jeff Sutton and SL Green Realty have just entered
into a contract to buy another high-profile fashion store at 747 Madison Avenue,
the New York Post reported.
The purchase price is close to $65 million, sources said..
The store, which is at the base of Colony House residential building near East
65th Street and currently houses fashion label Valentino, has 6,700 square feet
on the first floor and a 3,100-square-foot lower level currently used for...
JULY 16
Dolce and Gabbana to 5th
Dolce & Gabbana to 5th, by Lois Weiss.
Glam fashion powerhouse Dolce & Gabbana is making its first foray into the
heart of tony Fifth Avenue.
The Post has confirmed the Italian fashion house has just leased a massive
18,400-square-foot store
at 717 Fifth Ave., taking over the space from...
JULY 20
SL Green, Sutton Believe in Luxury Consumer
SL Green, Jeff Sutton Believe in the Luxury Consumerby Tom Acitelli
Rip! SL Green and Jeff Sutton continue their collective tear through New York commercial real estate, contracting to buy the Valentino store at 747 Madison Avenue for nearly...
DECEMBER 01
Hiding in Plain Sight
Jeff Sutton’s buildings are everywhere and his portfolio may be worthy $1 billion, but you ’d never know it.
By Adam Pincus
When asked last month about investor Jeff Sutton, a spokesperson for a major
commercial brokerage innocently responded: "Who’s that?"
The question is a telling one for someone who has in the last two decades
built up a portfolio, mostly of New York City retail properties, that may be
worth upward of $1 billion.
While Sutton is well known to the...
FEBRUARY 03
Eagle has Landed in SoHo Space
Eagle has Landed in Soho Space, by Lois Weiss.
Popular teen clothier American Eagle is moving its nest in SoHo into a bigger
and more prominent space.
After company executives' eyes bulged at the numbers from the retailer's
Times Square store,
they decided location matters and signed for 20,000 square feet at 599
Broadway on the southeast corner of Houston Street.
Sources said the deal will include...
NOVEMBER 18
Aeropostale Makes Entrance on 34th Street
Aeropostale Makes Entrance on 34th Street, by Sharon Edelson.
New York – Aeropostale’s first street front flagship here, on West 34th Street steps from
Herald Square, drew a crowd Tuesday for its soft opening.
The 5,700-square-foot unit – the chain’s mall units average 3,500 square feet –
is taking up residence in one of the city’s busiest retail districts, near 15 subway
lines, Penn Station, Madison Square Garden, and Macy’s.
"We’re doing over...
AUGUST 10
Escada Hits Broadway
Escada Hits Broadway, by Lois Weiss.
Escada is coming to SoHo. The fashion firm just scored the former 7,000
square-foot Ann Taylor space at 560 Broadway.
While the deal was approved by building owner Jeff Gural, it is retail deal maker
Jeff Sutton who now controls the space.
Sources tell us that Sutton bought out Ann Taylor's lease himself, and then
subleased the space to Escada.
Sutton, you might recall, is responsible for a...
JUNE 08
Power 100
The Power 100.
Barack Obama, President of the United States.
The chief executive of chief executives has come to dominate an era in real
estate when government largesse means the difference between deals and no deals.
TARP, TALF, PPIP, OMFG!-the feds' breathlessly watched efforts to loosen credit
markets and therefore get capital moving here and around the globe places this
Chicagoan securely (he h) atop our list as the most powerful person in...
Founder and President of Wharton Acquisitions Corp.
Mr. Sutton has collected more than 100 city properties, by himself or with...
DECEMBER 19
Glass Cube Look of Armani Flagship
Glass Cube Look of Fifth Ave. Armani Flagship, by Alessandra Ilari.
Milan – New York’s retail scene is about the get a bright new cube:
Giorgio Armani’s sprawling Fifth Avenue flagship is set to open Feb. 18.
Armani describes the concept store, which brings under one roof his Giorgio
Armani, Emporio Armani, and Armani Jeans lines, as "a special project requiring
a degree of courage."
"I was determined to send out a clear message of change,
interpreting the current trend for...
FEBRUARY 20
The City's Top Movers and Shakers
The City’s Top Movers and Shakersby Lois Weiss.
They hold the whole city in their hands – the realtors, owners, and managers
of New York’s skyscrapers, shops and warehouses. They keep the wheels of the
city's economy turning, and revitalize the city from downtown to Times Square
to the Meat packing District. Who are these people The Post rounds up the top
wheelers and dealers who are shaping New York.
JEFF SUTTON, Wharton Acquisitions Corp
Every few months, developer, owner and...
FEBRUARY 20
Mr. Sutton Shops SoHo
Mr. Sutton Shops SoHo, by Lois Weiss.
Four-story superstore to anchor Topping’s 599 B’way
The SoHo International Arts Building at the "Gateway to SoHo" will soon see
some restoring and signage.
Retail maestro Jeff Sutton signed a 49-year lease venture with owner David
Topping for the building's lower levels, 40,000 feet of 599 Broadway at the
southwest corner of Houston Street.
The building is known for the battle over its now-landmarked Forest Myers artwork on its...
FEBRUARY 19
New SoHo Boss
New Soho Boss Retailer Moving into Scholastic Building, by Lois Weiss Fashion house Hugo Boss is moving into a SoHo building owned by Scholastic, The Post has learned. Sources say the high-end retailer will take over the approximately 9,000 square foot retail store at 555 Broadway between Spring and Prince streets, which is now occupied by women's clothier Ann Taylor. The 12-year deal was orchestrated by developer Jeff Sutton. Sutton bought out Ann Taylor's lease himself, arranged an extension with...
DECEMBER 05
American Eagle Lands in Times Square
American Eagle Lands in Times Square, by Lois Weiss.
The long vacant former Howard Johnson Restaurant in Times Square is finally
coming back to life in one of the city's richest retail deals ever.
The Post has learned that American Eagle Outfitters is flying into the
prominent spot on the northwest corner of Broadway and 46th Street.
The Pittsburgh, Pa.-based American Eagle will occupy a huge, 26,500 foot,
three-level glass box that includes another level of...
JUNE 19
SL Green/Sutton 15-Year Lease with Armani
SL Green/Sutton Joint Venture Signs 15-Year Lease with Giorgio Armani at
717 Fifth Avenue.
Joint venture partners SL Green Realty Corp. and Jeff Sutton today announced
a 15-year lease with Giorgio Armani for more than 40,000 square feet at one of
Manhattan’s premier retail locations -- 717 Fifth Avenue – for the Italian
fashion house ’s world wide flagship.
Today’s announcement marks the latest in a series of high profile retail investments and...
MAY 16
Armani to Alter Boss Site
Armani to Alter Boss Site; Fashion Designer Plans "Total Experience" on Fifth Ave,
by Lois Weiss.
FASHION designer Giorgio Armani has signed a lease for a massive store of more
than 40,000 feet at 717 Fifth Ave., the former site of the Hugo Boss store on
the southeast corner of 56th Street.
Along with its world-class shopping, our spies say the retailer plans a "total
experience" that will include a restaurant club when it opens a full year from now.
We hear the 15-year Armani deal - worth...
APRIL 12
Doll 's House is a Real Estate Gold Mine
Doll’s House is a Real Estate Gold Mine, by Lois Weiss.
JEFFREY Sutton has waved his magic money wand and created $182 million
in value at the American Girl Place building.
To make each of its 157,571 feet worth $1,155, Sutton brought in a $66
million contribution from SL Green Realty Trust.
That recapitalizes 609 Fifth Ave. essentially based on American Girl's
long-term retail lease for 46,000 feet.
Sutton is retaining the majority stake while SL Green takes on property
management of the 12-story plus penthouse property at 49th Street.
Sutton and SL Green have many other joint ventures. At 141 Fifth Ave.,
a 75 percent interest in the third through 12th floors was recently...
AUGUST 11
A&F Plans New 5th Avenue Store
A&F PLANS NEW 5TH AVE. STORE by Lois Weiss.
ABERCROMBIE & Fitch is opening a flagship on Fifth Ave., taking the
location currently held by Fendi.
The youth leading retailer, which has only a South Street Seaport location
in Manhattan, will have new digs at 720 Fifth Ave.
Sources said the deal came to fruition because active retail investor,
Jeff Sutton, just completed a long-term pact to net lease the entire 113,000
square-foot building.
Fendi has wanted to downsize and apparently Sutton was also able to...
MARCH 17
Eagle HQ Lands on West 34th Street
Eagle HQ Lands on West 34TH – Teen Retailer’s Lease Anchors $16.4M Building
Purchase, by Lois Weiss.
AMERICAN Eagle Outfitters is flying into new headquarters in a West 34th
Street building purchased by Jeff Sutton for $16.4 million two weeks ago,
sources told The Post.
Sutton, who moved American Girl into his 609 Fifth Ave. building last year,
pulled off the new 34th Street purchase and...