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Jeff Sutton acquires SL Green’s stake in 724 Fifth Avenue

Deal gives him complete ownership

724 Fifth Avenue (Credit: Google Maps)

Jeff Sutton has acquired SL Green’s 50 percent stake in 724 Fifth Avenue, giving him complete ownership, according to CO and TRD. The retail and office property spans 65,000 square feet, and is located between West 56th and West 57th Streets.

Worth Noting: Prada occupies four floors of retail space, and reportedly pays $19 million per year under a lease that expires in 2029. 

Flashback: SL Green + Sutton secured $235 million from Aareal Capital Corporation last year to refinance the building. 

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