Brooklyn luxury contracts heat up in first week of October

Buyers signed 29 contracts asking $2 million or more

New York /
Oct.October 04, 2021 01:34 PM

From top left: 1 Prospect Park West, 136 92nd Street, 8220 Colonial Road, 1 Clinton Street (StreetEasy, Compass, iStock)

Brooklyn luxury contract signings stayed hot last week even as temperatures cooled.

Buyers signed 29 contracts asking $2 million or more in the borough, according to a new report from Compass. In all, the asking prices totalled $93.5 million, with a median of $2.97 million. That’s up from 22 deals the previous week, and just 15 before that.

Seventeen of the contracts were for townhouses and 12 for condos. None were for co-ops. On average, the properties spent 286 days on the market, and went for a six percent discount.

The top two contracts were both for condos in 1 Prospect Park West, the 64-unit building in Park Slope developed by Sugar Hill Capital Partners. The most expensive property, a four-bed, four-bath penthouse unit, last asked $6.95 million, or $2,181 per square foot. It includes a 1,400-square-foot private rooftop, a walk-in closet and a custom chef’s kitchen.

The runner-up last asked $5.98 million, or $1,876 per square foot. While that unit is only on the eighth floor, it’s no slouch, with four bedrooms, three bathrooms and a smaller outdoor terrace.

In February, 1 Prospect Park West made headlines for breaking the $2,000 per square foot barrier, a milestone rarely reached in Brooklyn.

Other notable contract signings include a detached two-story townhouse in Dyker Heights that last asked $2.5 million. The five-bedroom, two-bathroom home features a private driveway leading to a backyard with room for 12 cars.

Another buyer signed for a four-story Victorian townhouse, broken into two duplex apartments, which last asked $2.3 million. The Fort Hamilton home has a steam room and 16-foot-wide private driveway.





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