Jeff Sutton's Net Worth as of 2024
$3.6 Billion
JJeff Sutton was born in 1960 in Gravesend, Brooklyn, New York City USA, of Syrian Jewish ancestry, and is a real estate developer, the founder of Wharton Properties. Jeff is the winner of numerous awards including the Most Ingenious Deal of the Year Award, Creative Retail Deal of the Year Award, The Retail Deal of the Year Award and others. Sutton has been in the real estate business since 1981.
How much is the net worth of the real estate developer? It has been estimated by authoritative sources that the overall size of Jeff Sutton’s net worth is as much as $3.6 billion, as of the data presented in the middle of 2016. His assets include more than 120 properties based in New York City, most of them are suitable for retail. In addition to this, Sutton is the owner of residential property based on the Jersey Shore, which is valued at more than $22.6 million.
Jeff Sutton Net Worth $3.6 Billion
To begin with, Jeff was raised in a religious Judaic household in Brooklyn, in the family of a housewife and an importer of retail goods. He studied at the University of Pennsylvania, which he graduated from with a Bachelor of Arts and Bachelor of Sciences in 1981.
Upon graduation, Sutton wanted to enter New York real estate business world, although he did not have enough funding to be able to compete with the real estate families who had already established their place in the industry, rivals being such as the well-known families Lefrak, Tishmans, Rudins, Fishers, Roses, Dursts and others. Consequently, Jeff worked out a different tactic which allowed him not only to be a rival in the industry, but led to him becoming one of the best.
Concerning his plan, at first he found a client and deduced his/her expectations, then he himself signed the lease for the property his client wanted, and then re-rented it to that client. In the long run, he usually bought out the re-rented real estate property. Thus, he founded a commercial real estate company Wharton Properties in which he served as the President. Currently, his success might be described as a strong relationship with high quality tenants. To give examples, he signed leases with the flagship stores of Prada, Giorgio Armani, Dolce & Gabbana, Abercrombie & Fitch, Bvlgari, Ermenegildo Zegna and Crown Building the stores of which are based on Fifth Avenue. His other include Alerican Eagle Outfitters, Express and Converse on Broadway as well as Alexader Mqueen and Givenchy on Madison Avenue. All the aforementioned tenants and the record breaking deals signed with them have significantly increased the outright size of Jeff Sutton‘s net worth.
Finally, in the personal life of the real estate developer, he keeps his life private and rarely gives interviews. However, it is known that he is married and has fathered five children. Sutton resides in Gravesend, Brooklyn. With the help of various organizations he is involved into the charitable work. Furthermore, Jeff is one of the founding members of the Sephardic Community Alliance.
