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Brooklyn luxury contracts bounce back with a bump in bargains

Activity returned after a Labor Day swoon, but discounts hit 2022 high

From left: 74 Wellington and 1 Clinton
From left: 74 Wellington and 1 Clinton (Zillow, Street Easy)

Activity returned to Brooklyn’s luxury market last week — at a discounted price.

After hitting a slow couple of weeks around Labor Day weekend, 18 homes went into contract last week, according to Compass’ report of homes asking $2 million or more. The total is more than twice as many as the seven contracts reported the previous week and the 11 in the wee days of August.

The combined asking price of the homes — 12 condos and six townhouses — was $55.7 million and the average price per square foot was $1,240.

However, the average home received a 5 percent discount — the highest this year. The week before last was the only period of the last 10 during which homes did not receive a discount.

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The most expensive home to enter contract last week was Unit 36B at 1 Clinton Street in Brooklyn Heights, with an asking price of $8.9 million.

The 2,400-square-foot condo has five bedrooms and five bathrooms, along with an eat-in kitchen and a primary suite with corner exposures.

Amenities at the building, the tallest condo project in Brooklyn Heights, include a 2,000-square-foot terrace, sky lounge and parking garage.

The second most expensive home to enter contract last week was 74 Wellington Court in Flatbush, with an asking price of $4.3 million.

The colonial home, built in 1905, spans 5,300-square-feet and has six bedrooms and four bathrooms. It has a heated cobblestone driveway with a motorized gate, two-car garage and a landscaped garden. There’s also a deck off the second floor, according to the listing.

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Brooklyn