Bergen Gardens

Bergen Gardens

East 73rd Street and Bergen Avenue, Brooklyn, NY

Located in Bergen Beach, Brooklyn, Bergen Gardens is composed of 144 residential units spread evenly
in six low-rise buildings that occupy an entire block. Originally built in two phases by the same developer, Bergen Gardens had been occupied for over a decade when Hudson acquired the asset in June 2016.

Recognizing the quality of the already stabilized asset, Hudson’s value-add strategy involves developing a retail store on a portion of the oversized parking lot facing Ralph Avenue and reinvesting in the residential buildings themselves by lightly renovating the units as tenants leave, doing general preventative maintenance, and improving the curb appeal by making some simple aesthetic upgrades to the site.

Bergen Gardens benefits from a 421-a tax exemption program and is subject to a regulatory agreement with HDC.

Project Summary

  • 144 residential rental apartments
  • Approximately 164,000 square feet spread out across 6 buildings
  • Financing provided by Customers Bank
  • Managed by Lisa Management Inc.

Site design by Naiad Design