Hudson Cos Goes Way Off Brooklyn's Beaten Path With Latest Acquisition
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]
