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New York

Brooklyn’s luxury market slogs past Labor Day

Borough saw nine contracts inked for homes asking $2M+

Brooklyn’s Luxury Market Slogs Past Labor Day
415 Degraw Street, 1 Main Street (Getty, Google Maps, Eckstrom NYC)

Brooklyn’s luxury market logged a dismal week of contract signings as New Yorkers headed out of the city for Labor Day weekend.

The borough saw just nine homes asking $2 million or more enter contract between Sept. 4 and Sept. 9, according to Compass’ weekly report. 

The period was short a business day, but the total wasn’t out of line with that of previous weeks. The end of summer has proved slow for the borough, where only 10 contracts were inked in the previous week for homes asking $2 million or more. 

The priciest property to find a buyer was Unit 3 at 415 Degraw Street in Boerum Hill, with an asking price of $4.5 million. The full-floor condo conversion spans 2,200 square feet and has four bedrooms and three bathrooms.

It also features a private-keyed elevator, white oak flooring and private outdoor space. The building’s amenities include deeded parking and storage for purchase.

Carlos Saavedra of Park Property Advisors had the listing.

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The second most expensive home to enter contract was Unit 7D at 1 Main Street in Dumbo, with an asking price of $4 million. The 2,500-square-foot apartment, built in 1916, has three bedrooms and two bathrooms. 

The loft-like condo also features a primary bedroom with office space, high ceilings and en-suite bathroom with an enclosed shower and Jacuzzi tub. Among the building’s amenities are a 24-hour doorman, gym and roof deck. 

Brown Harris Stevens’ Kenneth Mandelbaum had the listing.

The historic waterfront building, known as The Clock Tower, holds the record for the priciest sale in the neighborhood. In 2017, its 6,800-square-foot penthouse sold for $15.7 million, or $2,242 per square foot, to Colombian art dealer, collector and gallery owner Lio Malca. 

Of the nine contracts signed last week, seven were for condos and two were for townhouses.

The average asking price for the homes was $3 million with an average price per square foot of $1,621. The typical home received a 2 percent discount from the asking price and spent 186 days on the market. 

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