Brooklyn’s luxury contracts stuck below $5M in post-holiday slowdown

Just 14 homes asking $2M+ found buyers last week

Brooklyn’s Luxury Contracts Slow Post Memorial Day

From left: Compass’ Maxine Resnick and Brown Harris Stevens’ Lisa Gaytan along with 820 Union Street and 27A 2nd Street in Brooklyn (Getty, Compass, Brown Harris Stevens, Google Maps)

Brooklyn’s luxury buyers took a break from signing deals following the Memorial Day long weekend. 

Just 14 homes asking $2 million or more entered contract between May 27 and June 2, down from 21 in the previous period, according to Compass’ weekly report. 

Leading the post-holiday signings were townhouses in Carroll Gardens and Park Slope, both asking just under $5 million.

Among the two properties was a three-story townhouse at 27A 2nd Street, which hit the market in early May. The home, built in 1899, spans 3,600 square feet and has four bedrooms and three bathrooms.

It also features a kitchen with double islands, backyard with a deck and renovated basement. 

Compass’ Maxine Resnick had the listing. 

Homes in Carroll Gardens often fetch hefty sums for the borough, including in late April, when a seven-bedroom abode on Degraw Street snagged a signed contract with an asking price of $12 million

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The neighborhood was the fourth most expensive in the city last quarter, with a median sale price of nearly $2.8 million, according to a Property Shark report.  

The other priciest home to find a buyer was 820 Union Street in Park Slope. The two-family brownstone, renovated in 2022, spans 4,300 square feet and has seven bedrooms and three bathrooms. 

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The 21-foot-wide property also features hardwood floors and a backyard with a patio and deck. 

The listing agent, Lisa Gaytan of Brown Harris Stevens, is also the seller, according to property records. 

Of the 14 contracts signed, four were for condos, one was for a co-op and nine were for townhouses. 

The homes had an average asking price of $3.3 million, which works out to roughly $1,264 per square foot. The properties spent an average of 68 days on the market with an average discount of 1 percent from the listing price.