Early Life
Jeff Sutton was born in 1960 into a Syrian Jewish family in Brooklyn, New York. His father was an importer of retail goods, exposing Sutton to commerce from a young age. He graduated from the University of Pennsylvania in 1981 with a B.A./B.S..
Rise to Success
Sutton began his career as a retail broker in the 1980s. He gained experience in the New York real estate industry by identifying potential tenants and determining store locations. Lacking the capital of established real estate families, he adopted a strategy of first finding a prospective tenant and then securing a lease before purchasing the property. This approach proved successful in the early 1990s, with Payless Shoes, and later, CVS Pharmacy. In 1997, he became the exclusive partner for CVS Pharmacy in New York City. Sutton founded Wharton Properties in the early 1990s. Over time, he amassed a portfolio of over 120 properties in prime New York City locations.
Key Business Strategies
Sutton's business strategy focused on securing triple-A national retail chains as tenants. He emphasized acquiring properties in prime locations and building strong relationships with retail tenants. His acquisitions include prominent properties such as 717 Fifth Avenue, 720 Fifth Avenue, and 609 Fifth Avenue. Notably, in 2024, entities affiliated with Sutton sold two Fifth Avenue buildings to Kering and Prada in a deal valued at around $1.8 billion.
Philanthropy
Sutton is involved in philanthropy, supporting various charitable causes through personal donations and involvement. He supports educational institutions, medical research, and cultural programs, including the Jeff Sutton Charitable Foundation.