Only four Brooklyn lux deals for fifth time in six weeks

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

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.


Related Articles

arrow_forward_ios
Compass CEO Robert Reffkin (Getty; iStock)

Compass eyes IPO in 2021

Compass eyes IPO in 2021
Kyle Barisich (iStock)

Break a leg: Broadway actor turns Hamptons broker

Break a leg: Broadway actor turns Hamptons broker
17 Polhemus Place and 7A 2nd Place in Brooklyn (Photos via StreetEasy; Google Maps)

Park Slope townhouse sells after just 36 days on the market

Park Slope townhouse sells after just 36 days on the market
Compass CEO Robert Reffkin (Getty; iStock)

Aloha, Compass: Brokerage expands to Hawaii

Aloha, Compass: Brokerage expands to Hawaii
Compass lending service sues Nile Niami over Bel Air mansion

Compass lending service sues Nile Niami over Bel Air mansion

Compass lending service sues Nile Niami over Bel Air mansion
Connecticut sales soar in third quarter, reflecting a shift toward more space and work-from-home. (iStock)

Connecticut sales soar in third quarter

Connecticut sales soar in third quarter
From left: Compass CEO Robert Reffkin, and  Modus' Abbas Guvenilir, Jay Sim and Alex Day (Getty; Modus)

Compass expands into title and escrow with Modus deal

Compass expands into title and escrow with Modus deal
Ed D’Ambrosio (center) with Dottie Herman and Rory Golod (Elliman, Twitter)

O Brother, where art thou? Dottie Herman’s brother leaves for Compass

O Brother, where art thou? Dottie Herman’s brother leaves for Compass
arrow_forward_ios

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

Loading...