TZ Capital Expands NYC Retail Footprint With Acquisition of 111 Mercer Street in SoHo
The acquisition marks TZ Capital's second investment in Manhattan's high-street retail market this year, following its recent purchase of 680 Madison Avenue for $180 million in May of 2024. The firm continues to focus on opportunities where location and brand quality converge to deliver durable performance. TZ Capital plans to deepen its presence in primary New York retail quarters with Madison Avenue and Soho as priority targets for future transactions.
'SoHo remains one of the most dynamic and desirable shopping districts in the country,' said Teddy Tananbaum, Managing Partner at TZ Capital. 'We are excited to own this asset long term, given our strong belief that SoHo will continue to be a key shopping destination for both tourists and New Yorkers. With sustained foot traffic and strong brand interest, the retail fundamentals here are compelling.'
Located between Spring and Prince Streets, 111 Mercer offers a prime retail presence in the heart of SoHo's luxury and contemporary fashion corridor.
'We're bullish on New York's retail recovery and believe SoHo is uniquely positioned to benefit,' added Sam Zuckert, Managing Partner at TZ Capital. 'This acquisition adds to our growing portfolio of retail assets in New York and reflects our conviction in the long-term resilience of prime urban retail. We look forward to stewarding this property for years to come, and hope that this is the first of many acquisitions in SoHo.'
About TZ Capital
TZ Capital is a Palm Beach-based real estate investment firm, led by Tyler Tananbaum, Teddy Tananbaum, and Sam Zuckert which manages assets on behalf of its investors. TZ Capital invests in real estate debt and equity and generally focuses on Florida, New York, and Colorado. The firm takes a long-term approach to capital appreciation and cash flow. Regarding equity, TZ Capital looks to acquire or develop specialty commercial and residential assets in New York, Florida, and Colorado. Regarding debt, TZ Capital originates loans to established real estate groups with good visibility on business plans and differentiated sites across the US with a focus on Florida, New York, and Colorado. TZ Capital is an employee-owned firm, providing a strong alignment of interest with their clients.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
22 minutes ago
- Los Angeles Times
Apple to commit another $100 billion for U.S. manufacturing, White House says
Apple, which was singled out by the Trump administration earlier this year over its production practices, plans to take a further step to highlight its commitment to boosting investment in the U.S. The tech giant will pledge to spend an additional $100 billion on domestic manufacturing, a move that could ease tensions between the tech giant and President Trump who wants iPhones built in the United States. A White House official on Wednesday said Trump will announce a new manufacturing program aimed to bring more of Apple's supply chain to the United States, confirming an earlier report from Bloomberg. Apple's commitment will increase the Cupertino-based company's U.S. investment to $600 billion over four years as it seeks to avoid the cost of tariffs. The company announced a $500-billion U.S. investment commitment in February. Nonetheless, Trump in May criticized Apple for expanding iPhone production in India, threatening to hit the company with a 25% tariff. Apple and other tech companies have touted their U.S. commitments, but analysts and economists have said shifting manufacturing to the United States could take years and result in higher prices for smartphones and other popular electronics. Some analysts have said it would take at least five years for Apple to shift production to the U.S. and the prices of iPhones could reach $3,500 if the smartphone was made in America. The iPhone 16 Pro is made up of roughly 2,700 parts sourced from 187 suppliers in 28 countries, according to an April report from TechInsights. As companies look to keep costs down and consumers watch their budgets, tariffs add another wrinkle to efforts to slash spending. Taylor Rogers, a White House spokesperson, said in a statement, that the Trump and Apple's announcement is 'another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security.' This week, Trump said he was doubling tariffs on India to 50%, stating in an executive order that the country's government 'is currently directly or indirectly importing Russian Federation oil.' Apple didn't respond to a request for comment. The move marks the latest apparent effort by Apple to show its commitment to hiring U.S. workers. Last month, the smartphone leader announced the opening of its Apple Manufacturing Academy in Detroit. The program begins Aug. 19 and offers free workshops on artificial intelligence and advanced manufacturing to small and medium-sized businesses. Apple has more than 450,000 jobs with thousands of suppliers and partners across all 50 states. While Apple designs its products in California, it also relies on a global supply chain involving various countries including China, Vietnam and India. Apple is already spending more because of Trump's tariffs. Last week, Apple Chief Executive Tim Cook said during an earnings call that the company has incurred roughly $800 million in tariff-related costs. Apple expects $1.1 billion in tariff-related costs in the fiscal fourth quarter ending in September.
Business Wire
22 minutes ago
- Business Wire
Northern Trust Leaders to Participate in Barclays Global Financial Services Conference on September 9 th
CHICAGO--(BUSINESS WIRE)--Northern Trust Corporation announced today that Chief Financial Officer David Fox and Chief Operating Officer Peter Cherecwich will participate in the Barclays Global Financial Services Conference in New York City on Tuesday, September 9, 2025, at 4:15 p.m. (ET). A live webcast of the event may be accessed via Northern Trust's website ( in the investor relations section. A replay will be available for approximately four weeks after the session date. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2025, Northern Trust had assets under custody/administration of US$18.1 trillion, and assets under management of US$1.7 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at
Business Wire
22 minutes ago
- Business Wire
AI in Africa to Top $16.5B by 2030: Mastercard Explores Path for Continued Digital Transformation
NAIROBI, Kenya--(BUSINESS WIRE)--Mastercard has today released its latest whitepaper, Harnessing the transformative power of AI in Africa, a pan-African study of the continent's readiness, opportunity and roadmap for responsible artificial intelligence (AI) adoption. The whitepaper provides detailed insights into how AI—if deployed responsibly and inclusively—can unlock transformative outcomes across the continent's major industries, including agriculture, healthcare, education, energy and finance. With Africa's AI market projected to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030 according to a recent report from Statista, the paper presents a clear case for multi-stakeholder collaboration and investment. It highlights how Africa's unique demographics, mobile-first infrastructure and entrepreneurial spirit position it as an active architect of the future. Mark Elliott, division president, Africa at Mastercard, commented: 'Africa's engagement with AI is already reshaping lives — not just in labs, but in farms, clinics and classrooms. To unlock its full potential, we need investment in infrastructure, data, talent, and policy. At Mastercard, we believe responsible, locally rooted AI can drive inclusive growth and connect more people to opportunity.' The whitepaper outlines the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing and investment into Africa. It also explores how AI can accelerate job creation, with up to 230 million digital jobs projected by 2030, and increase access to formal finance through AI-enabled credit scoring and fraud prevention. Greg Ulrich, chief AI and data officer, Mastercard, said: 'AI is only as powerful as the trust behind it. At Mastercard, we're committed to building AI that's responsible, inclusive, and built to bring value to our customers, partners and employees. This isn't just innovation—it's innovation with integrity.' Regional highlights covered in the whitepaper include: South Africa: South Africa attracted USD 610 million in AI-focused venture capital in 2023, with total AI investment expected to reach USD 3.7 billion by 2030. With the highest data and infrastructure readiness in Africa, the country is solidifying its role as a continental leader in AI research and application. It is home to the Artificial Intelligence Institute of South Africa which serves as a gateway for students and professionals to access world-class education, research and industry news. National plans aim to develop up to 300 AI start-ups and train 5,000 AI professionals by 2030, creating the foundation for a vibrant, homegrown AI ecosystem. Kenya: An emerging leader in AI innovation, Kenya has leveraged its 'Silicon Savannah' status to securely deploy AI across sectors. Platforms like Tala use mobile data for credit scoring, while Jacaranda Health's UlizaLlama, an AI-powered chatbot, provides maternal health support in five local languages. The newly launched National AI Strategy (2025–2030) outlines the government's commitment to positioning Kenya as a regional leader in AI research and development, innovation and commercialization for socioeconomic development. Nigeria: Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. As one of Africa's most dynamic AI ecosystems, Nigeria is using AI to personalize learning (Rising Academies), deliver microfinance via and strengthen governance with AI tools that monitor public fund allocation. With a $1.4 billion projected AI market size by 2025, the government's proactive approach, combined with growing private-sector innovation, suggests promising growth in AI applications. Morocco: An emerging AI hub in North Africa, Morocco is advancing AI adoption across healthcare, energy, agriculture, and finance. Institutions such as Mohammed VI Polytechnic University and DeepEcho are driving local innovation, while the MoroccoAI Annual Conference is shaping national dialogue on the future of AI. Under its Digital 2030 strategy, Morocco aims to attract USD 1.1 billion in investment and create 240,000 digital jobs by 2030. Despite this progress, the whitepaper warns that data fragmentation, language exclusion and regulatory inconsistency could deepen the digital divide. Harnessing the potential of AI in Africa will be instrumental in accelerating financial inclusion and driving the continent's digital and economic growth. Strategic collaborations between governments, fintechs, and global partners will be key to unlocking AI's full impact. Mastercard's whitepaper draws on insights from leading African technologists, policymakers, academics and entrepreneurs, including interviews with UNESCO, the African Center for Economic Transformation, and fintech leaders across the region. To download the full whitepaper, click Editor's Note 'Harnessing the transformative power of AI in Africa' has been written by White Paper Media Consulting (WPM) in partnership with the Mastercard EEMEA team. The findings and outcomes presented in this paper are based on interviews of various key stakeholders named in the report. These were put into perspective with contextual research by WPM. Markets covered include Kenya, Morocco, Nigeria and South Africa. Infographic and report design is by WPM. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
