Jack Terzi signs $26M acquisition, renovation loan with Columbia Pacific for office building in Tribeca

Jack Terzi through the entity JTRE 14 Vesey LLC as borrower signed an acquisition loan with lender Columbia Pacific’s CPIF Lending LLC valued at $26 million for the purchase and renovation of the office building (O7) at 14 Vesey Street in Tribeca, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 7, 2021.
The property has 30,000 square feet of built space to PincusCo analysis of city data. The loan price per built square foot is $601 per the PincusCo analysis.
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.
Jack Terzi is the founder of JTRE Holdings.

Correction: A prior version of this post did not include the renovation loan totaling $7.95 million. The total has now been updated to $26 million from $18.05 million.

Direct link to Acris document. link