724 Fifth Ave. 724 Fifth Ave.

NEW YORK CITY—Jeff Sutton, the founder and president of Wharton Properties, is purchasing SL Green Realty Corp.’s interest in 724 Fifth Ave., paying back SL Green’s investment in 720 Fifth Ave., plus partially repaying another partnership loan. SL Green will receive net proceeds of $85.5 million for these transactions, which are expected to close in the third quarter of 2018.