Unlike a certain baseball team from Queens, the Brooklyn luxury market bounced back to life in the first week of October, busting out of a slump it had endured through September.
Eighteen homes asking $2 million or more — nine townhouses, eight condos and one co-op — went into contract last week, according to Compass’ weekly luxury report.
That equals September’s highest total, set in the second full week of the month, and narrowly exceeded the combined asking prices and price per square foot from that week: $57.5 million and $1,290, respectively, versus $55.7 million and $1,240. The average listing price was discounted 2 percent for the 18 homes, which spent an average of 198 days on the market.
After a strong September, the Mets, who won 101 games and led their division for most of the season, fizzled in October and were eliminated in the first round of postseason play. The far less predictable market for Brooklyn luxury homes did the opposite, buoying the hopes of sellers and agents coping with rising mortgage rates and recession fears.
11A South Portland Ave in Brooklyn (StreetEasy, Getty)
Read more
Commercial
New York
Brooklyn office rents rise and tenants dump space on market
The most expensive home to go into contract last week was a three-family townhouse at 11A South Portland Avenue in Fort Greene asking $6.1 million. The 19th century brownstone is nearly 5,000 square feet and has four bedrooms and four bathrooms.The first three floors are an owners’ triplex with a climate-controlled conservatory that features a built-in entertainment system. The private backyard has a jacuzzi.
The fourth and fifth floors are separate, full-floor apartments.
206A Bergen Street in Brooklyn (StreetEasy, Getty)
The second most expensive home to find a buyer was 206A Bergen Street in Boerum Hill, with an asking price just under $5 million. The 3,700-square-foot townhouse has four bedrooms and three bathrooms. It has high ceilings, chevron oak floors, an open chef’s kitchen, a primary bedroom with a full-floor, a spa-like bath and a south-facing terrace. It also has updated mechanicals.