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Hudson Cos’ latest acquisition in Bergen Gardens is nowhere near the trendy North and Northwest Brooklyn neighborhoods the developer is known for building.
The developer has picked up the six-building Bergen Gardens complex at 1054-1096 Bergen Ave in Bergen Beach, near the shores of Jamaica Bay. It paid $50M to sellers The Mattone Group and Gartenstein Properties. That figure knocks about $8M off the original ask, the Commercial Observer reports.
The rent-stabilized complex totals 168k SF and it includes a parking lot, a portion of which has been approved for a new, 5,200 SF retail building. Cushman & Wakefield’s James Nelson, Aliaks Svetlakou and Ed Gevinski repped the sellers alongside Gartenstein Properties’ David, Steven and Victor Gartenstein.
Hudson Cos did the deal sans brokers. The complex is 98% occupied. [CO]
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