Brooklyn Financial Group Takes 20K SF in Williamsburg Building

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Insurance agency Brooklyn Financial Group (BFG) plans to expand its Williamsburg, Brooklyn, offices to 20,000 square feet at 185 Marcy Avenue, Commercial Observer has learned.

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The company signed a 10-year deal for the first and second floor of the six-story building between Division Avenue and South 9th Street, a source with knowledge of the deal said. Asking rent was $55 per square foot.

Tri State Commercial’s Shlomi Bagdadi and Avi Akiva brokered the deal for landlord Acuity Capital Partners while Bagdadi handled the deal for the tenant along with colleague Moses Walter. The Tri State agents declined to comment and BFG did not respond to a request for comment.

BFG currently has a 15,000-square-foot office nearby at 134 Broadway, the source said. The agency—which started in 1979—also has offices in Borough Park, Brooklyn, Monroe, N.Y. and Lakewood, N.J., according to its website. It’s unclear when it plans to move into its new digs.

The building at 185 Marcy Avenue was built in 1905 and was formerly a YMCA rooming house. Acuity Capital bought the property last year for $30 million, The Real Deal reported.

Last month, national preschool center The Learning Experience took 10,000 square feet of retail space in the building to open a new outpost in 2019, as CO previously reported.