Big Real Estate
This week The Observer profiled Jeff Sutton, arguably the most powerful retail landlord in New York City. New Yorkers may be forgiven, however, for not knowing his name—Mr. Sutton resides among that nebulous class of real estate moguls who own vast swathes of the city but who have never met a reporter they wanted to talk to.
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-square-foot American Eagle at the corner of Broadway and Houston Street; the 40,000-square-foot Armani flagship in 717 Fifth, soon to house an 18,400-square-foot Dolce & Gabbana; the 20,000-square-foot Abercrombie & Fitch store up the street at 720 Fifth; the 46,000-square-foot American Girl Place down the street at 609 Fifth; 1551 Broadway in Times Square, which includes the four-floor American Eagle Outfitters flagship; the Aeropostale lease at 1515 Broadway; 141 Fifth in the Flatiron, where Cole Haan supplanted a Bath & Body Works; the Polo Ralph Lauren space at 379 West Broadway in Soho; several spots in and around Herald Square, including the Foot Locker House of Hoops, Aeropostale, Aldo, Geox, American Eagle and Esprit; and 747 Madison Avenue, the location of the Valentino flagship. Just last week, he teamed with SL Green, the city’s biggest commercial landlord, on the $136 million purchase of 1552 Broadway, which contains the Times Square TGI Friday’s.
That is just a sampling.
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 $65 million
Lois Weiss at The Post has a sensational real estate scoop for the fashionistas about town:
A House of Hoops—Nike and Footlocker’s concept store/temple to all things basketball—will open a second New York City location at 11 West 34th Street, between Fifth and Sixth avenues, according to someone involved in the transaction.
The first House of Hoops opened in Harlem, at 268 West 125th Street, in the fall of 2007, with a Read More
Remember that plot on 34th Street where Apple was all set to build one of its marvelous stores—that is, until CEO Steve Jobs famously (and outrageously) visited the site in person and declared the block between Fifth and Sixth avenues unworthy of his corporate presence?
Well, now Esprit is in talks with Apple to Read More