Investor Buys Broadway building in NoMad for 13.5M

New York Post
May 9, 2017

By Lois Weiss

Investor Jack Terzi of JTRE has purchased 1177 Broadway in NoMad for $13.5 million. The direct deal with the owner that closed in April makes it the sixth building Terzi owns in that corridor.

The two-story building between West 27th and 28th streets has a mere 7,022 square feet but is across from the NoMad Hotel and includes additional air rights.

Sources said Terzi also bought out the building’s current tenants with an eye on upgrading the schlock to better reflect the hip neighborhood. According to CoStar data, Ripco Real Estate has been hired to lease the reimagined storefront that could include use of the roof.

Nearby, Made Nice, a fast-casual restaurant from the nearby Eleven Madison Park team, just opened in 8 W. 28th St. — another of Terzi’s area buildings.

Additionally, Terzi expects to close on the purchase of 23 Wall St. soon.

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