TZ Capital signs $9.7M acquisition loan with JPMorgan Chase for retail in SoHo

TZ Capital through the entity Tz 70 Greene Street Owner LLC as borrower signed a acquisition loan with lender JPMorgan Chase valued at $9.7 million for the retail condominium unit at 70 Greene Street in SoHo, Manhattan.
The deal closed on March 26, 2026 and was recorded on April 1, 2026. The prior lender was TZ Capital which held debt that had an original loan amount of $2.8 million.The property has 3,324 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $2,903 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on February 20, 2026, for $17 million. The signatory for TZ Capital was Steven A. Tananbaum . The signatory for JPMorgan Chase was Joyce Shih .

The property

The retail condo in SoHo has 3,324 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 3,324 square feet. The city-designated market value for the property in 2022 is $4.1 million. JPMorgan Chase on March 26, 2026 bought a loan with an original principal of $2.8M from TZ Capital signed by H. Tyler Tananbaum , secured by 70 Greene Street, when owned by TZ Capital .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on August 22, 2012. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In SoHo, The bulk, or 46 percent of the 9.5 million square feet of commercial built space are office buildings, with mixed-use buildings next occupying 14 percent of the space. In sales, SoHo has the 7th highest sale turnover among other neighborhoods in the city with $1.8 billion in sales volume in the last two years. For development, SoHo has had very little major development activity relative to other neighborhoods.It had 1 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 15 commercial properties representing 120,724 square feet of the 201,726 square feet. The largest owner is Blackstone Group, followed by Albert Malekan and then George Makkos.
There are no active new building construction projects on this tax block.

The majority, or 31 percent of the 201,726 square feet of built space are retail buildings, with office buildings next occupying 25 percent of the space.

The borrower

The PincusCo database currently indicates that Tz Capital owned at least one commercial property with 68 residential units in New York City with 237,003 square feet and a city-determined market value of $87.9 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single D4 property. It is located in Manhattan.

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