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Brooklyn luxury contracts dip in first week of 2021

15 homes asking $2M or more went into contract

429 Kent Ave in Williamsburg and 245 President Street in Carroll Gardens (Photos via StreetEasy; Google Maps)
429 Kent Ave in Williamsburg and 245 President Street in Carroll Gardens (Photos via StreetEasy; Google Maps)

New year, new trend?

For the first time in months, more condos went into contract in Brooklyn than townhouses, according to Compass’ weekly report tracking properties asking $2 million or more.

There were 15 luxury deals inked last week in the borough — 10 condos and five townhouses — for a total sales volume of $37.6 million. That’s a big change from the previous week’s 21 deals totaling $70 million.

The median asking price for all deals was $2.39 million, with an average of 285 days on market and a 4 percent listing discount.

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Condos remained the pricier buy with an average price per square foot of $1,500 for a nearly 1,800-square-foot apartment, while the average 3,500-square-foot townhouse was going for about $790 a foot.

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The most expensive property that went into contract last week was a Carroll Gardens townhouse at 245 President Street, which spans 4,150 square feet over three floors. Currently configured as a multi-family home, each floor has an office or den room and a bathroom and kitchen, with a total of eight bedrooms. The top floor has a skylight with views of Manhattan. It was last asking $3.4 million.

The second priciest deal was a condo at The Oosten, the Williamsburg apartment building developed by XIN Development Group International. The four-bedroom duplex spans almost 3,400 square feet with a private garden and outdoor jacuzzi. The home also has a chef’s kitchen and a private garage with built-in storage. Its final asking price was just over $3 million.

Last week’s dip in contract activity came as news broke that billionaire Vincent Viola sold his Brooklyn Heights mansion for $25.5 million, smashing the record for the most expensive home ever sold in the borough.

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BrooklynLuxury Real Estate