Brooklyn luxury contracts on the rise after July slowdown

25 contracts for homes asking $2M+ were signed last week, the most since June

New York /
Aug.August 09, 2021 03:30 PM
Brooklyn luxury contracts on the rise after July slowdown

(iStock)

After a slow July, Brooklyn luxury contract signings are on the rise again.

Twenty-five contracts for homes asking $2 million or more were signed in the borough last week, a boost from the previous week’s 15 contracts, according to Compass’ weekly report. It’s the most luxury contracts signed since the last week of June, when 23 such deals were inked.

The asking prices of those contracts totaled $82 million, a jump from the $49.5 million the week before. Buyers inked deals for 13 townhouses and 12 condominiums.

The median asking price for those contracts was $2.6 million, with an average price per square foot of $1,263.

Topping the list was a 6,500-square-foot Boerum Hill townhouse at 311 State Street asking $10 million, or $1,538 per square foot. The home, which is 22 feet wide, has six bedrooms, five bathrooms and three terraces.

Next was a 4,920-square-foot Brooklyn Heights townhouse at 43 Garden Place that was asking $7.9 million, or $1,606 per square foot. The 24-foot-wide home has five bedrooms and four and a half bathrooms across five stories and features a wine cellar and a garden with a patio.

The luxury homes that went into contract spent an average of 163 days on the market and had an average discount of 3 percent.





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