Brooklyn’s luxury market starts the year with a whimper: Stribling

Contracts signed least week were worth about $12.25M overall

TRD New York /
Jan.January 07, 2019 12:00 PM

From left: 76 Pierrepont Street and 430 Dean Street (Credit: Google Maps)

The first week of the year was a slow one for the Brooklyn luxury market.

Only three contracts have been signed so far in 2019, but the average contract price is up from last week’s holiday slump.

Contracts closed on two houses and one condominium for a total of $12.25 million, according to to the latest report from Stribling & Associates. The average contract price was $4 million, up from last week’s average of $2.4 million.

The most expensive sale was at 76 Pierrepont Street in Brooklyn Heights. The property, a Gothic Revival townhouse, was commissioned in 1857 by shipping merchant Henry B. Cromwell. The 29-foot-wide house is currently configured as five apartments. It has been maintained by the same family since the 1960s. The house sold for $6.5 million, 10 percent below the initial asking price of $7.25 million.

The second highest price contract was for a mixed-use townhouse at 430 Dean Street in Park Slope, which sold for $3.45 million. The first floor, which has 13-foot-high ceilings, was used by a commercial coffee roaster for decades. The second and third floor are configured as two bedroom apartments spread over 1,000 feet.

A three-bedroom penthouse at Evenhar Development Corporation’s 50 Greenpoint Avenue also sold for $2.3 million. The apartment has a 725 square-foot terrace overlooking the East River. – Decca Muldowney


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Denizen Bushwick at 54 Noll Street (Photos via Denizen Bushwick)

All Year nears $650M financing for Bushwick luxury rentals

All Year nears $650M financing for Bushwick luxury rentals
The decline in contract activity may signal a drop in sales in the coming months (iStock)

Pending homes sales dipped in September

Pending homes sales dipped in September
(Getty, iStock)

Refinancings drove up home mortgage apps last week

Refinancings drove up home mortgage apps last week
40 East 72nd Street and Spiros and Antonia Milonas  (Getty; Google Maps)

Under water: Shipping magnate’s troubled UES condo is bankrupt

Under water: Shipping magnate’s troubled UES condo is bankrupt
U.S. home prices rose with Phoenix, Seattle and San Diego logging the biggest gains (iStock)

US home prices jump 5.2% in August

US home prices jump 5.2% in August
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...