TZ Capital, a Palm Beach-based real estate investment firm, announced the acquisition of luxury retail property 680 Madison Avenue in Manhattan 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. 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.
“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,” said Sam Zuckert, managing partner at TZ Capital. “We are excited to be long-ter
