Brooklyn contracts cool as summer heats up

Twenty-three contracts totaling $72.8M in asking prices were inked last week

New York /
Jul.July 07, 2021 01:45 PM
85 Jay Street and 38 Third Place (Winnick Realty, Google Maps)

85 Jay Street and 38 Third Place (Winnick Realty, Google Maps)

As the summer heat raged, Brooklyn contract signings cooled last week.

Twenty-three contracts for homes worth $2 million or more were inked from June 28 to July 5, down from the 30 deals signed the previous week, according to Compass’s weekly report.

Ten were for condos, nine were for townhouses and four were for co-ops. The asking prices of those contracts totaled $72.8 million, down from the $96 million total of the previous week.

The most expensive contract signed was for a 3,068-square-foot Front & York penthouse at 85 Jay Street. The Dumbo condo was last listed at $7.85 million, or $2,559 per square foot, and has four bedrooms, four-and-a-half bathrooms, 11-foot ceilings and a 980 square-foot wraparound terrace.

The second-priciest home was a $6.5 million townhouse at 38 Third Place in Carroll Gardens. It features four bedrooms, three-and-a-half bathrooms, 10-foot high ceilings and a marble fireplace.

The median asking price for the contracts signed was $2.75 million, and the average price per square foot was $1,457. Homes stayed on the market for an average of 85 days and received an average discount of 1 percent.





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