Brooklyn luxury market surges with nearly $73M in contracts

Deals signed for 25 homes asking $2M or more last week

New York /
Nov.November 23, 2020 06:06 PM
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn’s luxury market got an early holiday gift last week.

Some 25 contracts were signed last week for homes asking $2 million or more, according to Compass’ weekly report. Combined, the price tags totaled $73 million. The previous week had 12 contracts signed for homes asking a combined $37.8 million.

The median asking price for last week’s deals was $2.6 million with an average listing discount of 2 percent. The average property spent 127 days on the market.

The most expensive contracts inked last week were once again for townhouses. The priciest home was in Williamsburg, at 176 North 6th Street. The three-story house spans almost 5,000 square feet with five bedrooms with a landscaped backyard and private roof deck with an outdoor kitchen. It was last asking $5.5 million.

The second priciest deal was for a 20-foot wide townhouse that dates back to the 1860s at 16 South Portland Avenue in Fort Greene. The 3,760-square-foot home also has five bedrooms and its final asking price was $4.1 million.

Of the 25 deals last week, 17 were townhouses, seven were condo units and one was a co-op. The average price per square foot for the condos was $1,631 versus $928 for the townhouses.





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