New development reigned last week in Brooklyn luxury’s signed deals.
The two most expensive contracts inked in the borough went to sponsor units in Brooklyn Heights and Williamsburg, according to Compass’ weekly report of homes in Brooklyn asking $2 million or more. The market as a whole last week performed similarly to the same week last year, with contracts down but median asking price and price per square foot up.
In total, nine units — five condos and four townhouses — entered contract from Sept. 9 to Sept. 15. The nine contracts had a median asking price of $2.9 million and an average price per square foot of $1,437. Last year, 12 properties inked deals with a median asking price of $2.5 million and an average price per square foot of $1,377.
Units lasted 75 days on the market, on average, and only one of the nine sold for a discount.
The competition for luxury new development may only be heating up this fall as buyers return to the market and inventory remains static for the foreseeable future.
The top deal was for Unit 17A at Quay Tower, the new development launched by RAL Companies in 2018 at 50 Bridge Park Drive. The 2,500-square-foot condo has four beds and three baths and went into contract with a last asking price of $5.1 million.
The unit has private elevator access and a chef-inspired kitchen, and features custom Italian cabinetry, wide-plank oak flooring and floor-to-ceiling windows throughout.
The 125-unit property has a 24-hour concierge, fitness center, rooftop lounge and music room.
The building has been a constant presence in the list of top Brooklyn contracts. It had the second priciest contract during the last full week of August with a three-bed unit going into contract with a last asking price of $3.3 million.
The penthouses at the development have garnered particularly impressive signings, including the most expensive deal of 2020 when a top-floor unit sold for $20.3 million.
Serhant’s Jim Hayes, Brad Mohr and Jamie Hannon had the listing.
The second priciest contract of the week went to unit 36A at Two Trees’ One Domino Square, which launched sales earlier this year. The 1,400-square-foot condo had a last asking price of $3.3 million. The unit has two beds and two full baths and features wide-plank white oak flooring and tilt-and-turn windows.
The 39-story building, which sits just north of the Williamsburg Bridge, is the residential sales piece of Two Trees’ larger redevelopment efforts around the historic Domino Sugar Factory, which was converted into offices. The building has indoor and outdoor pools, a spa, fitness center and game and media rooms.
One Domino Square currently has an internal sales team, according to StreetEasy.
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