Brooklyn luxury market has best week since Covid began

Borough saw seven contracts signed for about $22.5M

New York /
Jun.June 08, 2020 01:00 PM
314 Hicks Street and 200 Berkeley Place in Brooklyn (Google Maps; Corcoran)

314 Hicks Street and 200 Berkeley Place in Brooklyn (Google Maps; Corcoran)

New York City officially started reopening Monday, and it appears Brooklyn’s luxury market is on its way back as well.

Last week was the market’s strongest since the onset of the pandemic, with seven deals going into contract for about $22.5 million in total, according to the latest report from Compass.

The contract and dollar volume were the highest the borough has seen since the week of March 9, when there were 15 contracts signed for a total of about $45.3 million. Compass’ report looks at homes in the borough listed at $2 million or more.

The priciest deal last week was for a townhouse at 314 Hicks Street in Brooklyn Heights asking about $6.8 million. The five-bedroom home was built in 2012 and went into contract after 239 days on the market.

The second most expensive deal was for a townhouse at 200 Berkeley Place in Park Slope asking $4.5 million. The home spans 4,000 square feet with six bedrooms and went into contract after 219 days.

The seven deals included three condos, two townhouses and two co-ops, and went into contract with an average asking price of about $3.2 million and an average discount of about 5 percent from their initial listings. The properties spent an average of 178 days on the market.

Other deals that went into contract last week included a condo at 243 4th Avenue in Park Slope for about $2.5 million and a co-op at 28 Old Fulton Street in Brooklyn Heights for $2.35 million.


Related Articles

arrow_forward_ios
470 Broome Street (Photo via Saltzman Architects, P.C., iStock)
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
149 Clinton Street (Google Maps, iStock)
Brooklyn’s priciest rental will run you $30,000
Brooklyn’s priciest rental will run you $30,000
JDS Development's Michael Stern and 613 Baltic Street (JDS, VOA Architecture)
Michael Stern-owned condo project files for Chapter 11 bankruptcy
Michael Stern-owned condo project files for Chapter 11 bankruptcy
53 Prospect Park West (Google Maps)
Brooklyn Society for Ethical Culture’s home is on the market for $30M
Brooklyn Society for Ethical Culture’s home is on the market for $30M
Corcoran CEO Pam Liebman, Douglas Elliman Executive Chairman Howard Lorber and Compass CEO Robert Reffkin. (Unsplash, Corcoran, Compass, Douglas Elliman)
Which resi brokerages grew and shrunk during the pandemic
Which resi brokerages grew and shrunk during the pandemic
Compass' Robert Reffkin and REBNY's James Whelan. (Getty, Whelan via Anuja Shakya)
REBNY fires back at Compass in lawsuit over recruiting
REBNY fires back at Compass in lawsuit over recruiting
Robert Rahmanian, Louis Adler, Lyndsey Casagrande, Kenny Fung and Robert Reffkin (Getty)
Real New York sues Compass agents for breach of contract
Real New York sues Compass agents for breach of contract
From left: Mathew Chapman, Michele Kowal, Maryanne Elsaesser and Rhonda Battifarano (NJ Home Navigators)
Christie’s affiliate in NJ sues Compass for poaching, stealing trade secrets
Christie’s affiliate in NJ sues Compass for poaching, stealing trade secrets
arrow_forward_ios

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

Loading...