ZG Capital Partners pays $10.9M to Campari owner for mixed-use in NoHo

ZG Capital Partners through the entity Great Jones Alley, LLC paid $10.9 million to Lagfin, a Luxembourg-based holding company that controls the Italian spirits group Campari, through the entity 680 Broadway LLC for the four-unit property (C4) at 680 Broadway in NoHo, Manhattan. The expected use is cash flowing.
The deal closed on January 21, 2026 and was recorded on February 3, 2026. The property has 13,913 square feet of built space and 4,594 square feet of additional air rights for a total buildable of 18,525 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $787 and the price per buildable square foot is $591 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 seller bought the property on January 14, 2022, for $12.1 million. The signatory for Lagfin was Paul Xuereb . The signatory for ZG Capital Partners was Darren Zar . The contract date was October 31, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer ZG Capital Partners had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Lagfin had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Paul Xuereb, head officer and Jane Abramowitz, shareholder. The business entities are Tristar Equities and Boulevardier Spritz Llc.

The property

The property with 4 residential units in NoHo has 13,913 square feet of built space and 4,594 square feet of additional air rights for a total buildable of 18,525 square feet according to a PincusCo analysis of city data. The parcel has frontage of 28 feet and is 130 feet deep with a total lot size of 3,705 square feet. The property is in the NoHo Historic District. The city-designated market value for the property in 2022 is $13.8 million.

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 received $1,600 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of eight of the 23 commercial properties representing 126,354 square feet of the 336,595 square feet. The largest owner is Cara Investment Gmbh, followed by Lagfin and then Steven Gautier-Winther.
There are no active new building construction projects on this tax block.

The majority, or 48 percent of the 336,595 square feet of built space are office buildings, with mixed-use buildings next occupying 23 percent of the space.

The seller

The PincusCo database currently indicates that Lagfin owned at least six commercial properties with 24 residential units in New York City with 74,094 square feet and a city-determined market value of $44.1 million. (Market value is typically about 50% of actual value.) The portfolio has $34 million in debt, borrowed from Deutsche Bank. Within the portfolio, the bulk, or 41 percent of the 74,094 square feet of built space are retail properties, with walkup properties next occupying 30 percent of the space. They are all located in Manhattan.

The buyer

The PincusCo database currently indicates that ZG Capital Partners owned at least four commercial properties with eight residential units in New York City with 552,589 square feet and a city-determined market value of $194.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 86 percent of the 552,589 square feet of built space are office properties, with retail properties next occupying 10 percent of the space. They are all located in Manhattan.

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