Brooklyn luxury market can’t kick September slump

Contracts hit new lows in volume and combined prices

Chicago mayor Lori Lightfoot, Maurice Edwards, Robin Schabes, Julie Darling and rendering of Bally's Chicago casino (Linkedin, Central Advisory Council, Getty, Bally's)
105 Cambridge Place and 57 Marlborough Road in Brooklyn (Zillow, Compass)

Brooklyn’s luxury market is stuck in its post-Labor Day slowdown.

Signed contracts in the borough last week saw their slowest of the year for the second week in a row, according to Compass’ weekly report of homes listed for $2 million or more. Seven homes entered contract between Sept. 5 and 11 — a record low — and their combined volume was $21.5 million, also a record low.

Of the six townhouses and one condo, the average price per square foot was $1,096, nine dollars more than the record low set in early August. Homes sat on the market for an average of 189 days and did not receive a discount for the first time in two months.

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The most expensive home to enter into contract last week was 105 Cambridge Place in Clinton Hill, with an asking price of $5 million.

The Italianate brownstone is 4,000 square feet and 21 feet wide. It has seven bedrooms and four full bathrooms. Outside, it has a deck and a garden with patio access.

The two-family home has a triplex and a top floor that can serve as a two-bedroom rental apartment, according to Streeteasy.

The second most expensive home to sell last week was 57 Marlborough Road in Flatbush, with an asking price of $3.5 million.

The 4,000-square-foot home has six bedrooms and three full bathrooms. It was recently updated but retains original stained glass windows and pocket doors, as well as a two-room chef’s kitchen. Outside, there’s a landscaped backyard and a new deck.

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