$50M worth of Brooklyn luxury deals inked last week

19 homes asking $2M or more went into contract

New York /
Dec.December 14, 2020 02:30 PM
115 Milton Street in Greenpoint that went into contract at $3.75 million (Compass)

115 Milton Street in Greenpoint that went into contract at $3.75 million (Compass)

 

Brooklyn’s luxury market continued to see strong contract activity in the second week of December — and once again, townhouses were the top performers.

Last week there were 19 deals inked at $2 million or more, worth a combined $50 million, according to Compass’ weekly luxury report. That wasn’t quite as strong as the prior week, which saw 26 deals signed for a total deal volume of $88 million, the second best week since the pandemic began in March.

The most expensive contract last week was a renovated Williamsburg townhouse at 202 North 8th Street. The five-bedroom property spans over 4,000 square feet with a rear garden and private outdoor terrace off the master bedroom. It was last asking $3.99 million.

The second-priciest deal was a Greenpoint home at 115 Milton Street. The four-bedroom house is 3,720 square feet with features such as exposed brick and stained glass skylights. It went into contract asking $3.75 million.

Of last week’s deals, 15 of the contracts were townhouses, while just four were condominiums. There were no contracts signed for co-op units. Once again, townhouses had a lower price per square foot on average and were the larger properties.

The average price per square foot for townhouses last week was $838, compared to $1,543 for condos. The average size of a townhouse was nearly 3,250 square feet while the average condo was 1,820 square feet.

For all 19 of the luxury contracts inked last week in the borough, the median asking price was about $2.5 million. The average days on market was 224, and the average listing discount was 3 percent.





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