TZ Capital Expands NYC Retail Footprint With Acquisition of 111 Mercer Street in SoHo
NEW YORK--(BUSINESS WIRE)--TZ Capital, a Palm Beach-based real estate investment firm, today announced the acquisition of the retail condominium at 111 Mercer Street in Manhattan's SoHo neighborhood for $6.5 million. The transaction includes the ground floor and lower level retail space, currently leased to the British women's fashion brand ME+EM.
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.
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