After several strong weeks, Brooklyn’s luxury market dipped a bit in the final week of February. The category is defined as properties asking $2 million or higher. A Brooklyn Heights condo was the priciest unit of the week.
Just 18 contracts were signed with a total sales volume of $46.2 million, according to Compass’ weekly luxury market report. The average asking price was $2.6 million. The total was a decrease from the previous three weeks, each of which had at least 20 deals and a total sales volume above $65 million.
Condos dominated when it came to contracts signed for the week ending Feb. 28, another key difference. Eleven of those units went into contract with an average asking price of $2.6 million, and an average square footage of 1,840. Seven townhouse deals were inked, asking an average of $2.4 million and an average square footage of 2,833.
The priciest deal of the week was also for a condo, and a new development at that: A three-bedroom, two-and-a-half-bathroom unit at One Clinton Street in Brooklyn Heights went into contract with a final asking price of $3.8 million. The nearly 2,200-square-foot property overlooks Clinton Street, and comes with expansive views of Manhattan and New York Harbor.
Coming in a close second was a Park Slope townhouse at 20 Polhemus Place. The 3,000-square-foot single-family home has five bedrooms and three bathrooms, along with three wood-burning fireplaces and plenty of outdoor space. It was last listed for $3.7 million.
Once again, townhouses were the better deal on a price-per-square-foot basis, asking $875 versus $1,462 for condos.