Ten months, 10% below asking: Dumbo condo leads Brooklyn sales

Luxury home contracts last week totaled $55M

TRD New York /
Dec.December 09, 2019 12:15 PM
1 John Street and 74 Devoe Street in Brooklyn (Credit: StreetEasy)

1 John Street and 74 Devoe Street in Brooklyn (Credit: StreetEasy)

The priciest home sale in Brooklyn last week was $5.1 million for a Dumbo condo that spent 306 days on the market and went into contract at 10 percent below its asking price. The four-bedroom unit at 1 John Street spans 2,582 square feet.

Overall, 18 contracts worth $54.6 million were signed in Brooklyn’s luxury market last week, according to a Compass report on home sales of $2 million or higher. The properties — 12 townhouses and six condominiums — went for an average of about $3 million.

The numbers were up from 11 contracts and $37.3 million the previous week, which included Thanksgiving.

The second most expensive deal was for a townhouse at 74 Devoe Street in Williamsburg, which went for nearly $5 million. The five-bedroom home spans 3,775 square feet and went into contract 14 percent below its asking price after 224 days on the market.

Other sales last week included a condo at 347 Henry Street in Cobble Hill for $4.1 million and a townhouse at 94 Park Place in Park Slope for about $4 million. The Henry Street sale was part of the Fortis Group development 5 River Park, which is under construction where the Long Island College Hospital complex once stood.

Fortis had considered including affordable housing, a new school and other amenities in exchange for the right to build taller towers, but could not reach an agreement with Council member Brad Lander on a rezoning. The company decided in 2016 to move forward with an as-of-right, market-rate project at the site.

– Eddie Small

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