$70M in luxury contracts signed in Brooklyn last week

21 homes asking $2M or more went into contract

New York /
Jan.January 04, 2021 03:15 PM
47 Sidney Place and 118 Joralemon Street, both in Brooklyn Heights, topped the list for most expensive homes.

47 Sidney Place and 118 Joralemon Street, both in Brooklyn Heights, topped the list for most expensive homes.

 

Two Brooklyn Heights townhouses asking just under $11 million and $7 million, respectively, went into contract last week, bringing a weird year for real estate to a close on a relatively high note.

A total of 21 Brooklyn homes asking $2 million or more went into contract last week, for a combined value of $69.7 million, according to Compass’ weekly report.

That’s a sizable jump up from contract activity over the previous two weeks, where 18 deals were inked for a total value of $59 million and $47 million, respectively.

Townhouses once again dominated the landscape, accounting for 15 of the deals; there were five condo transactions and a single co-op. The median asking price across all 21 homes was $2.55 million and the average discount off the original listing price was 3 percent. The properties spent an average of 98 days on the market.

The most expensive contract signed last week was for 47 Sidney Place, a nearly 6,200-square-foot townhouse in Brooklyn Heights. The five-bedroom home was gut renovated and refurbished to passive house standards. One of the floors is currently configured as a separate apartment. The home was last asking $10.99 million.

The second-priciest home, also located in Brooklyn Heights, was a townhouse at 118 Joralemon Street. The 25-foot wide home is landmarked and spans about 6,000 square feet. It has seven bedrooms, home offices and a rear, landscaped garden outfitted with an in-ground hot tub. It was last asking $6.6 million.

The average price for townhouses was $880 per square foot with an average size of 3,850 square feet.





    Related Articles

    arrow_forward_ios
    (IStock illustration by Kevin Rebong)
    Smaller cities look to cash in on shift to remote work
    Smaller cities look to cash in on shift to remote work
    Douglas Elliman chairman Howard Lorber (Getty)
    Douglas Elliman reports $14M profit, 50% revenue jump in quarter
    Douglas Elliman reports $14M profit, 50% revenue jump in quarter
    Glenn Kelman (Randy Stewart via Flickr)
    Redfin revenue grows as it races to hire more agents
    Redfin revenue grows as it races to hire more agents
    Photo illustration of Mayor Bill de Blasio as Uncle Sam (iStock, Getty/Illustration by Kevin Rebong)
    NYC has $1.3B in unpaid property taxes
    NYC has $1.3B in unpaid property taxes
    (Getty)
    Nearly half of home sellers overpaid their broker fees in 2020
    Nearly half of home sellers overpaid their broker fees in 2020
    (iStock/Illustration by Kevin Rebong for The Real Deal)
    Year from Hell: 80% of Brooklyn businesses saw revenue drop
    Year from Hell: 80% of Brooklyn businesses saw revenue drop
    CBRE CEO Bob Sulentic. (CBRE, Getty)
    CBRE’s 2020 earnings down 8%
    CBRE’s 2020 earnings down 8%
    January is the second consecutive month of increase in new home sales. (Getty)
    Sales of new homes up 4.3% in January
    Sales of new homes up 4.3% in January
    arrow_forward_ios

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

    Loading...