Power Broker

Jack Terzi of JTRE on Growing, Organically

Photo by Amanda Cohen

Shortly after launching his eponymously named real estate business, Jack Terzi was approached by Apogee, a thrift store chain that operated 18 branches in Minnesota and Maryland, about opening in New York and New Jersey, which, compared with the chain’s traditional markets, were a “totally different animal.”

To facilitate the process, JTRE conducted traffic reports and demographic studies to identify the right markets to pinpoint across the region.

“We explained to them, go to Fulton Street in Brooklyn and pay the big rent,” said Mr. Terzi, chief executive officer of Jack Terzi Real Estate. “Pay over $1 million in rent, because you’re going to make three times as much as you did outside [New York].” Read More

Lease Beat

Meatball Shop Set to Open on the Upper East Side

Courtesy of Immaculate Infatuation

The popular New York-based restaurant chain Meatball Shop is set to open a new location in Manhattan.

The new restaurant located at 1462 Second Avenue will become the fifth location in the city. The space was previously occupied by a hardware store and features 2,000 square feet of open space divided between the basement and Read More