The Real Deal New York

Boerum Hill luxury rental building hits the market

Naftali Group’s the Bergen expected to fetch over $50M
June 25, 2014 10:00AM

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