Brooklyn luxury market stuck in August slump

Contracts signed Aug. 15 to 21 record year’s lowest ppsf, second lowest volume

72 Berry Street and 356 President Street (Google Maps, Getty)
72 Berry Street and 356 President Street (Google Maps, Getty)

What does the Brooklyn luxury market have in common with the New York Yankees? They’re both stuck in an August slump.

The once fearsome Yankees have yet to win a series this month, while Brooklyn’s luxury contracts last week saw dips in prices and volume, according to Compass’ weekly report of homes in the borough asking $2 million or more.

The borough saw 16 homes go into contract last week, the second lowest total recorded this year. The units had an average price per square foot of $1,087, the year’s lowest this year, and their combined asking price of $42.4 million was the lowest since the week of January 3-10.

It was also the sixth consecutive week luxury homes were discounted, with the average home last week going 2 percent under the asking price last week. The homes, which included 12 townhouses and four condos, on average spent 151 days on the market.

356 President Street (Zillow)

The priciest home to enter contract was a Carroll Gardens townhouse at 356 President Street, which was last asking $4.6 million. The 22-foot-wide townhouse spans over 4,500 square feet, with seven bedrooms and four bathrooms.

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David Cone, ex-Yankees and Mets star pitcher turned broadcaster, in front of 160 West 12th Street in the West Village (Getty Images, Google Maps, Compass StreetEasy)
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The second most expensive home to enter contract last week was Unit PH6B at 72 Berry Street in Williamsburg, last asking $3.5 million.

72 Berry Street (StreetEasy)

72 Berry Street (StreetEasy)

The duplex penthouse has two bedrooms and two full bathrooms across more than 1,600 square feet. It has floor-to-ceiling windows and a private outdoor hot tub that offers skyline views, while the primary suite has a roof deck.