Brooklyn’s Luxury Contracts Cool Off With $80M Week

Activity in Brooklyn’s luxury market came back down to earth last week.

After notching two straight weeks with contract volumes over $150 million, the borough saw $80 million in volume across 25 contracts last week, according to Compass’ weekly report for contracts signed on homes asking at least $2 million from May 11 to May 17. Contracts signed last week included seven condos, five co-ops and 13 single-family homes.

The median asking price for deals signed last week was $2.5 million, the average price per square foot was $1,279 and homes spent an average of 62 days on the market.

The priciest contract last week was for a Carroll Gardens townhouse at 181 President Street, asking $8.3 million.

The 29-foot-wide living room has 12-foot ceilings and floor-to-ceiling glass doors that lead to a landscaped back terrace. The terrace has a kitchenette, grilling station, pergola and built-in seating.

The top floor holds the primary suite, which includes a bedroom with views of Lower Manhattan, a walk-in closet and a bathroom with a freestanding oval tub and skylit shower. The home also has a private elevator, roof deck and a multi-car garage.

The finished basement has a media room and wine cellar.

CORE’s Emily Beare, Lexi Alper and Caroline Shalloe had the listing.

The previous two weeks had been buoyed by a total of 11 deals signed at Avdoo’s 110 Boerum Place in Cobble Hill. Last week, the development put another three units in contract, including Unit 302, which was the second priciest deal of the period.

Asking $5.6 million, the 2,100-square-foot condo has three bedrooms, two bathrooms and over 400 square feet of outdoor space across two loggias.

Designed by Brooklyn-based architect Brent Buck, the boutique development launched sales with an in-house team in January and has put 12 of the building’s 21 units into contract, according to StreetEasy.