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Residential
New York

Brooklyn’s luxury market perks up

Borough saw 16 contracts signed for homes asking $2M+

Brooklyn’s Luxury Market Perks Up
227 Clinton Street and 18 Remsen Street (Google Maps, Getty)

Brooklyn’s luxury market showed signs of life last week following a slow start to the month.

The borough saw 16 contracts inked for homes asking $2 million or more between Aug. 14 and Aug. 20, up from just 10 in the previous period, according to Compass’ weekly report. The priciest homes to find buyers finally cracked $5 million last week, after two periods of deals under $4 million. 

The most expensive home to enter contract was 227 Clinton Street in Cobble Hill, with an asking price of just under $10 million. The 5,700-square-foot townhouse has six bedrooms and four bathrooms. 

The 25-foot-wide home also features floor-to-ceiling windows, chef’s kitchen, lounge area with a fireplace and backyard with an endless resistance pool and garden. 

Sotheby’s International’s Karen Heyman had the listing.

Home prices in Cobble Hill soared during the pandemic with some properties in the neighborhood fetching eight-figure deals. A 4,000-square-foot Greek revival townhouse at 128 Pacific Street sold for $12 million in March, up from the $8 million purchase price in 2015.

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The second priciest home to find a buyer was 18 Remsen Street in Brooklyn Heights, with an asking price of $7.8 million. The townhouse, built in 1852, spans 5,600 square feet and has seven bedrooms and four bathrooms. 

The 25.5-foot-wide home also features original details like plaster crown moldings and fireplaces, as well as a front terrace and landscaped garden.

Brown Harris Stevens’ Brian Lehner had the listing.

Homes in Brooklyn Heights regularly top luxury reports in the borough, including a landmarked townhouse which entered contract in late June after asking $8.5 million.

Of the 16 contracts inked last week, five were for condos, one was for a co-op and 10 were for townhouses.

The average asking price for the homes was $3.9 million with an average price per square foot of $1,223. The typical home received a 4 percent discount from the asking price and spent 210 days on the market.

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brown harris stevensCompassSotheby's International Realty