Brooklyn luxury market sees four contracts signed for second week in a row

Priciest deal was for a Brooklyn Heights co-op seeking $5.3M

TRD New York /
May.May 04, 2020 10:30 AM
1 Pierrepont Street and 543 11th Street in Brooklyn (Credit: Google Maps)

1 Pierrepont Street and 543 11th Street in Brooklyn (Credit: Google Maps)

Do four high-end contract signings in Brooklyn count as a busy week? At the moment, perhaps.

The four deals were for two condos, a co-op and a townhouse, according to the latest report from Compass. The report looks at homes in the borough asking $2 million or more based on the last publicly available asking prices. The previous week’s report also found four such deals.

In February, the weekly average was 18.

The priciest listing to go into contract last week was a co-op at 1 Pierrepont Street in Brooklyn Heights asking $5.3 million. The five-bedroom property spans about 3,000 square feet and spent 343 days on the market.

The second most expensive was a townhouse at 543 11th Street in Park Slope asking $2.6 million. The five-bedroom property spans 2,790 square feet and went into contract after 82 days on the market. It is legally designated as a three-family home but can be easily converted to a single-family, according to Compass.

The asking prices of the four deals was $12.3 million altogether. The properties spent an average of 119 days on the market and had reduced their asking prices by an average of 4 percent. The previous week’s four contracts were for homes asking $12.2 million in total.

The other two contracts signed in Brooklyn’s luxury market last week were a condo at 856 Washington Avenue in Prospect Heights and a condo at 341 Union Street in Carroll Gardens, both for $2.2 million.


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