Brooklyn’s Bergen luxury building may fetch $50M
June 24, 2014

A rare luxury residential rental building in Boerum Hill, The Bergen at 316 Bergen St., is on the sales block and could garner well over $50 million.

The property on the corner of Brooklyn’s Third Avenue has 84 apartments in about 55,000 square feet, so market sources believe the price tag would pencil out at just over $1,000 per foot.

Developed with condo finishes and luxury amenities by the Naftali Group with capital partner AEW Capital Management, the building now fetches rents in the low $60s per foot and a Savills Studley team has been hired to market it with an eye on a condo conversion.

“The supply-demand imbalance between the desirability of brownstone Brooklyn and the lack of luxury product is unmatched anywhere else in New York City,” observed Woody Heller, who heads the Savills Studley capital markets team that includes Will Silverman, Eric Negrin and Daniel Parker...

Brooklyn’s Bergen luxury building may fetch $50M

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