The Real Deal New York

Jack Terzi to buy Midtown garage for retail project

$21M acquisition comes on the heels of $15.5M purchase in November
December 03, 2014 12:12PM

Jack Terzi of JTRE Holdings is in contract to acquire a three-story Midtown East parking garage from the Gould family for $21 million.

The 30,000-square-foot property at 240 East 54th Street, between Second and Third avenues, is slated to be converted into retail, the New York Post reported. CBRE’s Timothy Sheehan and Daniel Kaplan marketed the building.

Terzi told the New York Post he has several retail tenants interested in occupying the property.

Last month, Terzi paid $15.5 million for two four-story buildings next to the NoMad Hotel, as The Real Deal reported. [NYP]Mark Maurer