TZ Capital Announces Acquisition of Luxury Retail Property 680 Madison Avenue

NEW YORK--(BUSINESS WIRE)--TZ Capital, a Palm Beach-based real estate investment firm, today announces the acquisition of luxury retail property 680 Madison Avenue located in Manhattan, New York on behalf of the family office of Steven A. Tananbaum. TZ Capital will be responsible for the day to day management of the asset.

The property consists of 34,000 square feet of luxury retail space, spanning the entire western blocks of Madison Avenue between East 61st and 62nd Street in New York, NY. It is fully leased to tenants Tom Ford, Brioni, Oscar de la Renta, Morgenthal Frederics, Missoni, and Asprey. The property features historic architecture, 12- foot ceiling heights, two prime corners with 201 feet of frontage along Madison Avenue, and 393 feet of combined wrap-around frontage.

“We look forward to being good stewards of the property for the many years to come. We are thrilled with the exceptional tenants and are grateful for their tenancy. There is a timeless feeling to Madison Avenue and our conviction with 680 Madison is that the retail presence in this location is strong and only getting stronger," said TZ Capital Managing Partner, Tyler Tananbaum. “New York tourism is expected to return or surpass 2019 levels, and Madison Avenue is well-positioned to capture that growth, particularly with the several major developments nearby in the pipeline and the resurgence of high street retail activity.”

Managing Partner Sam Zuckert noted, “TZ Capital is excited to make its first acquisition, and hope to build a long-term portfolio of well-located Manhattan high-street retail and commercial assets. We are excited to be long-term owners of Madison Avenue. 61st to 62nd Street and Madison Avenue is one of the most prime retail locations in the world. We believe that 680 Madison Avenue will continue to attract the top performing luxury fashion brands who want to connect with their customers at the intersection of Midtown and the Upper East Side.”

About TZ Capital: TZ Capital is a Palm Beach-based real estate investment firm, founded in 2023 by Tyler Tananbaum and Sam Zuckert which manages assets on behalf of its founders and investors. TZ Capital invests in real estate debt and equity and generally focuses on Florida, New York, and California. 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 and Florida. 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 California. TZ Capital is an employee-owned firm, providing a strong alignment of interest with their clients.