Private European Investor Acquires the Bergen in Brooklyn

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Savills Studley brokers sale of the Bergen, one of Brooklyn's best boutique multifamily buildings

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This is an ideal investment for offshore purchasers; it offers safe returns and compelling growth prospects in a market that is well positioned for the future.

A private European investor has just acquired The Bergen, one of Brooklyn’s best boutique multifamily buildings from the Naftali Group for a price of $52.2M. The transaction was brokered by Woody Heller, Will Silverman, and Eric Negrin of Savills Studley, the leading global commercial real estate firm.

Completed in 2014, the 8-story, 54,697 square-foot property is located in the trendy, Boerum Hill neighborhood in Brooklyn, NY and showcases an architecturally distinct lobby, thoughtful layouts, and excellent light. The Bergen features 84 units with condo-like finishes and luxury amenities in a neighborhood predominantly made up of one-to-four family townhouses and walk-ups. It also offers highly desirable amenities – a fitness center, private storage, landscaped outdoor space, and valet parking – while keeping true to the values many Brooklyn residents hold dear.

With this transaction, Savills Studley strategically used its broader reach of buyers and successfully completed one of their first property transactions through Savills’ international network. Only several months after Savills’ purchase of Studley, this transaction substantiates the high degree of opportunity created by the merger. Executive Managing Director and Head of U.S. Capital Markets for Savills Studley, Borja Sierra was instrumental in identifying the purchaser. Sierra said, “This is an ideal investment for offshore purchasers; it offers safe returns and compelling growth prospects in a market that is well positioned for the future.”

Woody Heller, Executive Managing Director and Group Head of Studley’s Capital Transaction Group at Savills Studley described how “this was a highly sought after asset as Brooklyn continues to attract a growing audience of buyers. In fact, several finalists were off-shore groups that were new to the market.”

About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 25 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 27,000 professionals and over 600 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.

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Heather Castrillon
Savills Studley
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