Real Estate Bigwig Buys $23 Million Beachfront Mansion On The Jersey Shore

sutton estate

Jeff Sutton, a New York City real estate mogul, purchased an outsized luxury home for $22.6 million in Deal, NJ, The Real Deal writes.

Although Sutton wound up paying far less than the initial asking price of $35 million, the final price on the two-story house was still one of the highest prices ever recorded in Monmouth County real estate history. 

Sutton has plans to renovate the landmarked mansion at 91 Ocean Boulevard, one hour south of New York City. It belonged to the estate of Ruth Sampson.

Sutton is the founder and president of Wharton Properties, a commercial real estate firm that owns properties on Fifth Avenue and 34th Street and in Times Square.

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