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.





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