Investor Takes Entire Brooklyn Waterfront Building
The head of a mortgage banking firm has inked a deal for 76,000 square feet at 80 Hudson Avenue in the Vinegar Hill section of Brooklyn.
David Brecher, the head of First Meridian Mortgage, signed the lease and plans to sublease the space to a tech tenant, according to The Real Deal, which first reported news of the lease.
Mr. Brecher, who signed the lease memorandum that hit property records on July 8, did not immediately return a call for comment. The landlord is listed as The Cibrano Family. The lease is for 20 years, according to the memorandum.
Ofer Cohen, Dan Marks, Peter Schubert and Joey Terzi of TerraCRG represented both the landlord and tenant, according to a press release which didn’t identify either party. A spokeswoman for the brokerage would neither confirm nor deny that Mr. Brecher was the tenant.
The asking rent in the seven-story building between John and Marshall Streets was $20 per square foot, per the spokeswoman.
“We are very happy to have created great tax-efficient and long-term value for the client while preserving the asset in the family,” Mr. Schubert said in prepared remarks. “The tenant is a very experienced operator and was able to prove itself as an ideal tenant for the property.”