2006-03-10 / Community

Diner's Sale Records Filed With City

By Brian Magoolaghan

The Rockaway Sunset Diner in Rockaway Park was sold to a Manhattan realty company that specializes in multi-million dollar deals and nationally recognized retail stores, according to documents that became public Wednesday.

The documents, filed with the New York City Department of Finance on February 22, name 116-11 Beach Channel Drive, LLC/Wharton Realty as the new owners. Wharton, headquartered at 20 East 46 Street in Manhattan, controls properties throughout the Five Boroughs; their portfolio now spans from Fifth Avenue to Beach 116 Street.

The company carefully maintains a low profile, preferring the public know the names of their name brand tenants instead. It has teamed in the past with Winick Realty Group, specializing in retail leasing services for a range of businesses including banks, pharmacies, restaurants, office supply and clothing stores.

Jeff Sutton, described by other commercial real estate bigs as a savvy investor who owns dozens of properties, is listed as the manager of 116-11 Beach Channel Drive LLC, which registered with the Department of State on November 14, 2005.

A Wharton representative declined to tell The Wave the name of the retailer that will hold the lease, but suggested the property, which ceased operating as a diner on February 12, would not remain dormant for long.

A check of Department of Buildings records, however, shows that no work permits have been applied for as yet. "If they're going to do anything with the property they haven't filed with us yet," DOB spokesperson Jennifer Givner confirmed on Thursday.

The Finance records also show that Wharton paid more than $4 million to acquire the property from Sunset Bay Development LTD i.e. Steve Good. That should quell fears of another .99-cent store.

In an interview with The Wave this week, Good said the future use of the property was not disclosed even to him and that he gleaned little from the attorneys who represented Wharton at the closing.

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