Dumbo penthouse leads Brooklyn’s luxury market

There were 19 luxury deals hammered out in the borough last week

New York /
Jul.July 27, 2021 01:06 PM
PHE at 51 Jay Street and 4 Hunts Lane (Compass)

PHE at 51 Jay Street and 4 Hunts Lane (Compass)

Brooklyn’s luxury market activity continued its downward slide last week.

There were 19 luxury contracts inked last week in Brooklyn, according to Compass’s weekly report on contracts for homes in the borough at asking prices of $2 million or higher.

The combined value of the contracts was $60 million, with a median asking price of $2.89 million. Of the 19 transactions, apart from three condos, all properties were townhouses.

The prior week saw 21 contracts signed worth $64 million.

The most expensive contract was a Dumbo penthouse at 51 Jay Street that was last listed for $5.95 million. The 3,016-square-foot unit has four bedrooms, a two-level terrace that spans 2,764 square feet and a chef’s kitchen.

The second-priciest contract was a Brooklyn Heights townhouse. The seller of the property, a historic carriage house at 4 Hunts Lane, was last asking $5.5 million. The recently renovated home has four bedrooms, a private garage, double-height ceilings and a private patio.

The average discount from initial asking price to final asking price among last week’s contracts was 1 percent. The homes spent an average of 92 days on the market.

The average price per square foot for condos remained at a higher ask of $1,815 compared to the average of $897 for townhouses.





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