Jack Terzi records net lease valued at $70M with China Sonangol for 23 Wall Street in FiDi

Jack Terzi Real Estate through the entity JTRE 23 Ws (Del) LLC signed a net lease with China Sonangol’s CS Wall Street LLC valued at $70 million for commercial condominiums at 23 Wall Street in the Financial District. The deal closed on November 5, 2020, and was recorded on November 17, 2020. The transaction consists of 3 parcels, including the tax class commercial condominium unit (R5).

Terzi signed a 30-year lease that has two renewal options for 30 and 39 years, totaling 99 years. The commercial property has office and retail space.  The net lease for the retail condo units was signed December 18, 2019, and amended November 5, 2020. The lease is valued at $70 million. China Sonangal bought the property for $150 million in 2008 from Africa Israel.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Jack Terzi