Only four Brooklyn lux deals for fifth time in six weeks

Market in holding pattern; sales led by $5M Cobble Hill townhouse

TRD New York /
Jun.June 01, 2020 11:15 AM
198 Warren Street and 1 Clinton Street in Brooklyn (Google Maps; One Clinton BK)

198 Warren Street and 1 Clinton Street in Brooklyn (Google Maps; One Clinton BK)

Brooklyn’s luxury-home market once again saw four deals last week, marking the fifth time in the past six weeks the sector has seen that many contracts signed. A year ago, a typical week would see 20 pricey Brooklyn homes go into contract.

Last week’s deals were split between two townhouses and two condos, according to the latest report from Compass. The report looks at homes in the borough asking $2 million or more based on the last public asking prices.

The most expensive listing to go into contract last week was for a townhouse asking $5.15 million at 198 Warren Street in Cobble Hill. The six-bedroom property spans 3,500 square feet and had been on the market for 62 days.

The second priciest was for a condo at 1 Clinton Street in Brooklyn Heights seeking $3.2 million. The three-bedroom unit spans 1,981 square feet.

Overall, the four deals that went into contract had asking prices totaling about $13.8 million, or an average of $3.4 million. They spent an average of 226 days on the market and their listing prices had been discounted by an average of 2 percent.

The week before last saw four deals as well, although the total dollar volume was lower at about $9.4 million.

The other two deals last week were for a townhouse at 369 Bergen Street in Park Slope asking $3 million and for a condo at 1 Clinton Street in Brooklyn Heights asking nearly $2.4 million.


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