Boerum Hill luxury rental building hits the market

Naftali Group’s the Bergen expected to fetch over $50M

New York /
Jun.June 25, 2014 10:00 AM

The Naftali Group’s luxury rental the Bergen, located at 316 Bergen Street in Boerum Hill, is up for sale.

The 84-unit property on the corner of Third Avenue totals roughly 55,000 square feet, which could work out to a sale price of just over $1,000 per square foot, market sources told the New York Post.

Woody Heller, Will Silverman, Eric Negrin and Daniel Parker of Savills Studley are marketing the building, reportedly with an eye toward converting it to condominiums.

“The supply-demand imbalance between the desirability of brownstone Brooklyn and the lack of luxury product is unmatched anywhere else in New York City,” Heller told the Post.

Naftali developed the property along with capital partner AEW Capital Management, and units are currently fetching rents in the low $60s per square foot, according to the Post.  [NYP, 1st item]Julie Strickland


Related Articles

arrow_forward_ios
Miki Naftali and the corner of Madison and East 86th Street. (Getty, Google Maps)
Naftali Group nabs $102M loan for UES condo project
Naftali Group nabs $102M loan for UES condo project
Mickey Rabina and renderings of his 452,132 square foot building. (Getty, Rabina, Ceruzzi Properties)
The 10 biggest new project filings in NYC
The 10 biggest new project filings in NYC
Miki Naftali of Naftali Group and 470 Kent Avenue (Getty; Google Maps)
Naftali Group files plans for 400-unit towers in Williamsburg
Naftali Group files plans for 400-unit towers in Williamsburg
Miki Naftali
Is urban living dead? “I don’t buy it,” says Miki Naftali
Is urban living dead? “I don’t buy it,” says Miki Naftali
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)
Naftali closes on large Williamsburg development site for $100M
Naftali closes on large Williamsburg development site for $100M
1165 Madison Avenue and Naftali Group's Miki Naftali (Credit: Google Maps and Gonzalo Marroquin/Patrick McMullan via Getty Images)
Naftali Group plans another Upper East Side condo
Naftali Group plans another Upper East Side condo
Steve Roth and Miki Naftali with 1167 Madison Avenue and 50 East 86th Street (Credit: Google Maps)
Naftali buys two vacated Vornado properties for $71M
Naftali buys two vacated Vornado properties for $71M
Miki Naftali and 1045 Madison Avenue (Credit: Getty Images, Google Maps)
Naftali accused of violating zoning laws at UES development
Naftali accused of violating zoning laws at UES development
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...