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.





    Related Articles

    arrow_forward_ios
    HRI founder Aaron Carr and Virginia Attorney General Mark Herring (Facebook, Getty)
    Housing Rights Initiative takes voucher discrimination probe south
    Housing Rights Initiative takes voucher discrimination probe south
    School and office reopenings led to fewer reservations at the end of summer. (iStock)
    Hamptons rental market had strong summer, begins to cool
    Hamptons rental market had strong summer, begins to cool
    Zillow CEO Rich Barton (Getty, iStock)
    Zillow hits the brakes on iBuying
    Zillow hits the brakes on iBuying
    More than 27,000 Long Island households behind on rent
    More than 27,000 Long Island households behind on rent
    More than 27,000 Long Island households behind on rent
    91 Sergio Franchi Drive and Sergio Franchi (Sotheby's, Getty)
    Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
    Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
    Automatic for the people: SmartRent CEO on why landlords are going all-in on connected homes
    Automatic for the people: SmartRent CEO on why landlords are going all-in on connected homes
    Automatic for the people: SmartRent CEO on why landlords are going all-in on connected homes
    Community Development Corporation of Long Island CEO Gwen O'Shea (CDCLI, iStock)
    Nassau County aims to salvage $6M rent relief program
    Nassau County aims to salvage $6M rent relief program
    Senator Chuck Schumer and 70 Prospect Park West (Google Maps, Getty)
    Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
    Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
    arrow_forward_ios

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

    Loading...