Biggest week of pandemic for Brooklyn’s luxury market

Ten properties asking $2 million or more went into contract last week

TRD New York /
Jul.July 27, 2020 06:30 PM
One Clinton Street and 179 Bergen Street (Google Maps, One Clinton BK)

One Clinton Street and 179 Bergen Street (Google Maps, One Clinton BK)

Brooklyn’s luxury market has hit a new high since the pandemic closed down the city in March.

Ten high-end properties went into contract last week asking a combined $30.2 million, according to Compass’ report tracking properties asking $2 million or more. That’s the highest dollar figure since the week of March 9, before in-person showings were banned and the city was abruptly shut.

The median asking price for those contracts was $2.8 million with an average price per square foot of $1,350. The average number of days the properties spent on the market was 44, and not one had dropped its asking price.

Since showings began again in late June as part of phase two of reopening, the Brooklyn market has gradually begun to recover. In the second week of July, 11 properties seeking a combined $29.6 million went into contract.

Of the 10 properties that went into contract last week, eight were townhouses and just two were condos.

The most expensive was a townhouse at 179 Bergen Street in Boerum Hill. The 1910-era home is 20 feet wide and has five bedrooms, a backyard and a deck. The five-story home was remodeled in 2015 and was asking $5.4 million.

The second priciest contract was a Brooklyn Heights condo at One Clinton, a new building completed this year. The three-bedroom unit spans almost 2,000 square feet. Its last asking price was $3.7 million.

Write to Erin Hudson at [email protected]


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