Real Estate Weekly

SELLING POINTS: Biggest industrial sale of year in Jersey closes; Savills Studley reels in Euro investor

December 24, 2014

Savills studley Brokers bring Euro investor to Brooklyn A private European investor has acquired The Bergen, a boutique Boerum Hill multifamily building, from the Naftali Group for $52.2 million.

The transaction was brokered by Woody Heller, Will Silverman, and Eric Negrin of Savills Studley.

Completed in 2014, the 8-story, 54,697 s/f property located at 316 Bergen Street has 84 units and luxury amenities.

The deal comes several months after the Savills Studley merger and is one for the first successfully completed through Savills’ international network.

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.”

“We were one of the first developers to see the potential of this neighborhood, and we were able to fill a void in the market no one else was addressing,” said Miki Naftali, chairman and CEO of The Naftali Group.

“The Bergen successfully raised the stakes for rental properties in the neighborhood, bringing greater expectations for high-end design and first class amenities and services to the area.”