Brooklyn luxury contracts decline for fifth straight week

Just 21 deals closed, down from 23 the previous week and 39 in the first week of June

New York /
Jul.July 13, 2021 07:00 AM
155 Noble Street and 200 Hicks Street (Google Maps)

155 Noble Street and 200 Hicks Street (Google Maps)

Luxury sales continue to tumble in Brooklyn.

Only 21 contracts for homes asking $2 million or more were signed in Brooklyn last week, down from 23 the week prior and continuing a week-to-week decline that has endured since the beginning of June, according to Compass’s weekly reports.

Of the deals signed from July 6-11, 10 were for townhouses, eight were for condominiums and three were for co-ops. The asking prices of those contracts totaled $62 million, down from the previous week’s $73 million.

The top two contracts were neck-and-neck in terms of price, with only $4,000 separating them. Topping the list was a $4 million Brooklyn Heights co-op at 200 Hicks Street. The unit features three bedrooms, two bathrooms and a 781-square-foot wraparound terrace.

Also listed for just under $4 million was a condo at 155 Noble Street. The 3,689-square-foot Greenpoint home has three bedrooms, three bathrooms and a private rooftop.

The median asking price for all of the properties that went into contract was $2.75 million, and the average price per square foot was $1,228. Homes spent an average of 129 days on the market.

The second quarter was a strong one for the borough overall, with sales up nearly 125 percent year-over-year, according to a report by Douglas Elliman compiled by Miller Samuel. While it is hardly surprising that second quarter sales blew away figures seen during lockdowns last summer, it was the most sales the borough has seen during any second quarter since 2007.





    Related Articles

    arrow_forward_ios
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
    For 15 years, David Koch lived at the world’s “richest building”
    For 15 years, David Koch lived at the world’s “richest building”
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Unit 55 at 111 West 57th Street (Douglas Elliman)
    Manhattan breaks luxury sales record with 3 months still to go
    Manhattan breaks luxury sales record with 3 months still to go
    Bryan Cranston buys Central Park West co-op for $5.6M
    Bryan Cranston buys Central Park West co-op for $5.6M
    Bryan Cranston buys Central Park West co-op for $5.6M
    Deconstruct Podcast
    Deconstructing the single-family rental: New podcast episode out now
    Deconstructing the single-family rental: New podcast episode out now
    Compass’ lockup period ends Tuesday, doubling tradable shares
    Compass’ lockup period ends Tuesday, doubling tradable shares
    Compass’ lockup period ends Tuesday, doubling tradable shares
    Martha Stewart sold Hamptons mansion for $16.5M — nearly double its ask
    Martha Stewart sold Hamptons mansion for $16.5M — nearly double its ask
    Martha Stewart sold Hamptons mansion for $16.5M — nearly double its ask
    arrow_forward_ios

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

    Loading...