Jack Terzi Real Estate borrows $12M from Jovia Financial for 2-story retail in Nomad

Jack Terzi Real Estate through the entity JTRE 1177 Nomad LLC as borrower signed a loan agreement with lender Jovia Financial Federal Credit Union valued at $12.0 million for 1 parcel, including the tax class two-story or store and office (K2) at 1177 Broadway in Nomad. The deal closed on November 22, 2019 and was recorded on December 5, 2019.
The property contains a total of 4,432 square feet of built space. The property has 21,278 square feet of available development rights.
The average loan per buildable square foot is $564.
The last time the property sold was April 24, 2017, for $13,500,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $154,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link