Slow August start for Brooklyn luxury market

The muggy summer days appear to have slowed down the Brooklyn luxury market. 

The borough saw 10 total contracts signed for properties asking $2 million or more between July 29 and August 4, down from 19 the previous week, according to Compass’ weekly report. The 10 contracts – four condos and six townhouses – were also down from the same week last year, which reported 14 signed contracts. 

But the period saw some small improvements: The week notched a median asking price of $3 million, up year-over-year from $2.9 million. The average number of days properties spent on the market was down to 148 year-over-year, from 181. The discount percentage was also down, from four percent to two percent. 

The top contract signed went to 19 Girard Street, a 4,600-square-foot townhouse in Manhattan Beach with a last asking price of just over $4.1 million. The four bed, five full bath property sits just off of the south side of Sheepshead Bay and features a separate carriage house and fully-finished basement with rec room. 

The asking price is more than double the single family home median value of $1.6 million in Manhattan Beach, according to Zillow.

Thomas Lipovetsky has the listing. 

A Park Slope penthouse condo had the second priciest contract last week, with a last asking price of $4.1 million. 

The top-floor unit at 444 12th Street spans 2,420 square feet with four beds and three baths. The dining room, kitchen and living room form one capacious space, centered around a breakfast bar that seats up to 10 people. 

The primary bedroom has an ensuite mosaic bathroom with a private patio egress, while the third bathroom has a walk-in closet, ensuite bathroom and private patio. The unit also features a wood-burning fireplace, central AC, and a terrace over 1,000 square feet. 

The building, a converted factory from the early aughts, has a full-time doorman, valet parking and live-in super.  

The contract, if closed, would be the most expensive sale at the 35-unit building, according to public records. Penthouse unit PHB closed for $3.2 million last year. 

Corcoran’s Jessica Buchman, Bryan Rettaliata, Susanna Studwell and Hannah Simpson of the Jessica Buchman Team had the listing. 

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