Who is Jeff Sutton?
Jeff Sutton is an American real estate holder who is known for being the founder of Wharton Properties. He is one of the prolific landlords in New York as he owns a lot of properties across New York and other cities.
In this article, I would be writing about Jeff Sutton’s biography, age, wife, house, family, LinkedIn, daughter, wedding, net worth, and other facts about him. First, let’s take a look at his profile below.
|Date of birth||1960|
|Profession||Real Estate Agent|
Jeff Sutton Biography
Jeff Sutton was born in 1960 however, his exact date and year of birth are unknown, however, he would be 62 by 2022. He was born in Gravesend Brooklyn to a Syrian Jewish family. His father was an importer of retail goods and he graduated with a B.A/B.S from the University of Pennsylvania however, his course of study is unknown.
Jeff started out finding potential clients, whom, after he finds the client, he would either buy out the lease from the tenant at the location or buy out the landlord. His strategy paid off and it worked with Payless Shoes and CVS Pharmacy. Some of the properties his company owns include 717 Fifth Avenue with the Armani flagship store, and 720 Fifth Avenue with the Abercrombie & Fitch store to mention a few.
Jeff Sutton Career
When Jeff Sutton graduated in economics, his dream was to build a real estate empire. However, Sutton lacked investors and contacts that would allow him to replicate traditional investment strategies of buying low and selling high. In the 1980s, Sutton devised a plan to start earning money in real estate: instead of looking for properties, he would look for businesses interested in renting properties, and with their intermediation, he would be able to generate income.
This strategy not only allowed him to build his initial capital to invest in real estate, it also provided him with the necessary clients to maximize the profitability of the commercial real estate he purchased. With this business model, Sutton founded Wharton Properties in 1995, and in the following 25 years, he built a portfolio of 120 commercial properties, with a special focus on Manhattan where he rents some of the most valuable spaces in New York. Currently, Jeff Sutton’s fortune amounts to more than 3 billion dollars and, although the coronavirus negatively affected this area in 2020, in 2022, commercial real estate is expected to be one of the big winners in the real estate market.
Jeff Sutton House
Jeff Sutton purchased a house worth $22.6million in Deal, New York and he got it less than the initial asking price of $35million. The house is a two-story building and it is one of the highest in the history of Monmouth County real estate.
Jeff Sutton Wife, Family
Jeff is married to Racheal Sutton and they have five kids together.
Jeff Sutton Daughters Wedding
Jeff spent a lot on his daughter Reene Sutton’s wedding with her fiance Eliot Cohen’s. Jeff spent around $25million and the wedding was a traditional Jewish ceremony that had a four days buildup to the big event.
Jeff Sutton LinkedIn
There is a LinkedIn account related to Jeff Suton however, he is yet to confirm that he has a LinkedIn account.
Jeff Sutton Net worth
Jeff Sutton has been featured on Forbes and he has an estimated net worth of $3billion with most of his earnings coming from his real estate company