Bed-Stuy townhouse tops Brooklyn luxury contracts

Number of deals remained steady but dollar volume dropped during the last week of August

126 Hancock Street and 85 North 3rd Street (Google Maps, Corcoran)
126 Hancock Street and 85 North 3rd Street (Google Maps, Corcoran)

Brooklyn’s luxury home market didn’t take a vacation the last week of August.

While Manhattan has seen an exodus of people — and a decline in deals — following the coronavirus, the Brooklyn market has proven quite active.

For the week ending Aug. 30, well-heeled buyers snapped up 13 properties, each asking $2 million or more, similar to last week’s 15 deals, according to Compass’ market report. However, sales volume fell considerably from $58.5 million to $34.2 million week over week.

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The contracts were for six condos, one co-op and six houses. The properties spent an average of 142 days on the market, had a median asking price of $2.6 million and an average listing discount of 1 percent.

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The most expensive deal, based on asking price, was for a 4,205-square-foot townhouse at 126 Hancock Street in Bedford Stuyvesant, built in 1886. The eight-bedroom home includes an 1880s pier mirror, four bathrooms and five decorative fireplaces. It was asking about $3.5 million.

The second priciest unit was a condo in Williamsburg, at 85 North 3rd Street. The 2,250-square-foot pad has 75 square feet of balcony space and 11 oversized windows with views of Manhattan and Williamsburg. It went into contract for just under $3.3 million.

Strength in the Brooklyn luxury market comes as existing home sales nationwide hit a new reported high: The median sales price reached $300,000 for the first time, based on July data.

U.S. sales grew by 25 percent in July compared to the month prior, with more than two-thirds of homes being listed for less than one month before selling.

Contact Orion Jones at