Williamsburg townhouse goes into contract after listing strategy shift

Brooklyn’s luxury deals last week included two homes asking more than $7M

New York /
Dec.December 13, 2021 04:45 PM

Views of 10 Orient Avenue (compass.com)

UPDATED Dec. 15, 2021, 1:58 p.m.: One Brooklyn townhouse seller who asked for the moon will have to settle for a nice chunk of cheese.

The owner of 10 Orient Avenue in Williamsburg had slashed the original $5.5 million asking price to $2.6 million before going into contract last week, according to Compass’ weekly report.

The drastic price change came when the team decided to no longer sell the home as a combination property with the unit behind it on Metropolitan Avenue, according to listing agent Mat Gundell.

The fat price chop for the 25-foot-wide double duplex helped skew last week’s average discount — the difference between the initial and final asking price — for Brooklyn luxury contract signings to 6 percent across 25 deals. The previous week’s 2 percent average discount, across 28 signings, was more typical of the market, which the report defines as residences asking $2 million or more.

The two priciest homes that went into contract were both asking for more than $7 million.

Topping the list was a Prospect Heights penthouse last asking $7.7 million. The 2,969-square-foot condominium at 550 Vanderbilt was asking $2,599 per square foot and has four bedrooms and four and a half bathrooms. Its ceilings exceed 10 feet and oversized windows offer neighborhood and city views.

Not far behind was a 5,500-square-foot brownstone in Park Slope last asking $7.5 million. The townhouse at 541 First Street has eight bedrooms and four bathrooms. The home’s ceilings also stretch more than 10 feet tall and feature restored stained glass transom windows and a garden.

Of the Brooklyn contracts signed from Dec. 6 to Dec. 12 for properties asking $2 million or more, 11 were condominiums, 11 were townhouses and three were co-ops.

The asking prices for those units totaled $83.3 million, with the median asking price being $2.7 million. The homes spent an average of 152 days on the market and sought an average price per square foot of $1,347.

This article has been revised to clarify that the original listing price of 10 Orient Avenue included an additional property on Metropolitan Avenue.





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