Signs of life in Brooklyn’s luxury home market

Four contracts for homes listed above $2M were signed, up from two the prior week

New York /
Apr.April 27, 2020 11:31 AM
268 Sterling Place and 56 Marlborough Road (Credit: Google Maps; StreetEasy)

268 Sterling Place and 56 Marlborough Road (Credit: Google Maps; StreetEasy)

Activity in Brooklyn’s luxury residential market increased slightly last week from the week before, but sales remain extremely slow.

The borough saw four high-end contracts signed last week, split between two condos and two townhouses, according to the latest report from Compass. The report looks at homes in the borough asking $2 million or more in the most recent public listings.

The priciest deal was for a townhouse at 268 Sterling Place in Prospect Heights, which was asking about $4.3 million. The seven-bedroom property spans 4,000 square feet and spent 95 days on the market.

The second most expensive deal last week was for a townhouse at 56 Marlborough Road in Flatbush, which had been asking about $2.9 million. The four-bedroom property spans 3,553 square feet and went into contract after 164 days on the market.

The average asking price of the contracts last week was about $3.1 million, and the total volume was about $12.2 million. The properties spent an average of 140 days on the market and went into contract at an average of 1 percent less than their asking prices. The week before, Brooklyn’s luxury market saw just two contracts signed for a total of about $4.6 million.

The other two contracts signed in Brooklyn’s luxury market last week were a condo at 129 North Third Street in Williamsburg for about $2.5 million and a condo at 708A Degraw Street in Park Slope for about $2.5 million.


Related Articles

arrow_forward_ios
Serhant brings in two Compass teams
Serhant brings in two Compass teams
Serhant brings in two Compass teams
Keller Williams' Lauren Balbuena and Compass CEO Robert Reffkin (Keller Williams, Getty/Illustration by The Real Deal)
Keller Williams NYC’s agent count bounced back while Compass’ growth slowed
Keller Williams NYC’s agent count bounced back while Compass’ growth slowed
Robert Reffkin, founder & ceo, Compass (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Residential brokerage shares take a hit in first week of 2022 trading
Residential brokerage shares take a hit in first week of 2022 trading
From left: Andrew Cuomo, Eric Adams, Bill de Blasio and Kathy Hochul
These were NYC’s top real estate stories of 2021
These were NYC’s top real estate stories of 2021
$30M home could be Upper West Side’s most expensive townhouse
$30M home could be Upper West Side’s most expensive townhouse
$30M home could be Upper West Side’s most expensive townhouse
Compass' Robert Reffkin, Diane Ramirez, former Warburg CEO Frederick Peters (Getty, iStock)
From IPOs to industry veteran exits: These are 2021’s biggest NYC brokerage stories
From IPOs to industry veteran exits: These are 2021’s biggest NYC brokerage stories
These are Brooklyn’s top 10 brokerages by agent headcount
These are Brooklyn’s top 10 brokerages by agent headcount
These are Brooklyn’s top 10 brokerages by agent headcount
Here’s the top firms for Manhattan in agent headcount
These are Manhattan’s top brokerages by agent headcount
These are Manhattan’s top brokerages by agent headcount
arrow_forward_ios

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

Loading...