T
he former owner of the iconic 90 Bedford St. in the West Village just realized a 79 % return on his investment. Jeff Sutton’s Wharton Properties sold the building for $32.7 million, a price that city records confirm. The address, known worldwide as the exterior of the “Friends” apartment block, has become a pilgrimage site for fans.

    Wharton’s founder, Jeff Sutton, bought the property for $18.25 million in February 2024, gutted most of its 21 units, and secured full leases. His renovation effort paid off, earning him a sizable profit. The sale was brokered off‑market by Michael Sherman of Baseline Real Estate Advisors; the buyer remained anonymous until today. Reports identify the purchaser as JP Real Estate Group Limited, a Japanese investment vehicle registered in the Cayman Islands.

    The building’s cultural cachet is evident. After Matthew Perry’s death in 2023, visitors left flowers and letters outside the address. The ground floor hosts the Little Owl restaurant, whose owner, Joey Campanaro, has dealt with frequent “Friends”‑themed graffiti from tourists. In 2019, a chalk artist’s tribute “I love Joey” sparked a cleanup effort led by the late developer Frederick Rudd’s stepmother, Bobbi, who insisted on removing the markings.

    JP Real Estate Group has been active this fall, acquiring two Greenwich Village walk‑ups for $24.9 million in August and a Soho walk‑up for $17 million in September. The new owner, described by Campanaro as a young, affluent businessman, has already met the building’s previous owner, though his name remains undisclosed.

    The 21‑unit residence, once a subject of illegal graffiti, now stands as a fully leased, renovated landmark. Its most recent vacancy—a two‑bedroom unit—was taken off the market in late November at $6,500. Despite its Los Angeles filming location, 90 Bedford has become a global hotspot for “Friends” devotees, drawing crowds that leave flowers and letters in tribute to the show’s legacy.