2Q22
BROWNSTONE BROOKLYN MARKET REPORT
Brownstone Brooklyn Market Report 2Q22 Dear Reader, Strong demand resulted in record average pricing for both townhouses and condominiums this quarter - a continuation of the trend established for the townhouse sector in the first quarter of this year, where buyers continued to eschew the suburban option for expanding families. For condominiums, this was an abrupt change in direction from the trend established over the previous three quarters, with the dollar per square foot metric increasing significantly – an indication that larger units are being absorbed.
Townhouses Just over $569MM worth of 1- to 4-family townhouses traded hands in 2Q22, versus $550MM during 2Q21, a modest increase of $19MM, or 3.3%. Over the same time frame, transaction volume, 210 sales, decreased by 10.6%, but experienced a slight increase from 203 in 1Q22. The average sales price moved up significantly by 15.6% to $2.71MM, year-over-year, a record high. A market-wide overview and notable transactions appear on page 12 of this report.
Condominiums Approximately $878MM worth of condominiums sold in 2Q22, versus $860MM during 2Q21, a moderate increase of $18MM, or 2.0%. Conversely, the number of transactions decreased by 8.9%, year-over-year, but was up substantially by 49.3% over 1Q21. The increase in gross volume and decrease in transaction numbers resulted in a record high average sales price of $1.63MM, a 12.0% increase year-over-year. A market-wide overview and other notable condominium transactions appear on page 13 of this report.
Weekly Brooklyn Luxury Market Report In addition to this quarterly closed sales report, we track New to Market listings and In Contract deals on a weekly basis. Follow me on Instagram @donaldbrennan.trustedadvisor where I post this weekly report, along with other useful market observations and our exclusive listings. We also discuss these proprietary reports on our How’s The Market? video series, which is hosted on our Engel & Völkers Brownstone Brooklyn YouTube channel. If you have a question about this report or if you need help understanding the value of your specific real estate holding, please don’t hesitate to contact me directly. My insights and advice are always complimentary. Stay Safe & Stay Informed,
Donald P. Brennan, Jr. License Partner | Real Estate Broker Engel & Völkers Brownstone Brooklyn Brennan Realty Services, LLC 45 Main Street, Suite 824 Brooklyn, NY 11201 Email: donald.brennan@evrealestate.com Cell: (917) 568-6525 Web: brownstonebrooklyn.evrealestate.com My Instagram: @donaldbrennan.trustedadvisor Firm Instagram: @evbrownstonebrooklyn
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Neighborhoods Summary
4
Brooklyn Heights
5
Cobble Hill
6
Carroll Gardens
7
Columbia Street Waterfront District
8
Boerum Hill
9
Gowanus
10
Fort Greene
11
Clinton Hill
14
Prospect Heights
15
Park Slope
16
Bedford-Stuyvesant (West)
17
Bedford-Stuyvesant (East)
18
Downtown Brooklyn
19
Greenpoint
20
Williamsburg
21
DUMBO
22
Townhouse Market Neighborhood Overview
12
Condominium Market Neighborhood Overview
13
2Q 2022 Market Report | 4
BROWNSTONE BROOKLYN Townhouse Summary The townhouse market saw 210 closed sales
1 to 4 Family Townhouses
this period. The continued strength in our Brooklyn townhouse market was reflected in our price metrics, notably by around 15% year-over-year increases in both average sales price and PPSF. The four-quarter trailing average is $934 PSF and over $2.6MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
$2.71MM AVERAGE SALES PRICE THIS QUARTER
(in Millions)
Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,709,945
6.04%
$2,555,667
15.61%
$2,344,045
$980
8.96%
$899
14.98%
$852
$2,364,250
2.79%
$2,300,000
18.51%
$1,995,000
210
203
235
$30.0
$2500 $2,500
$24.0
$2,000 $2000
$18.0
$1,500 $1500
$12.0
$1,000 $1000
PPSF PRICE
$500 $500
$6.0 $0.0
2020 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 20222Q 20201Q 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
$0
Condo Summary Transaction volume in the condominium
Condominium Units
market made an incredible comeback this quarter at 539 recorded deals. Buyers in the market can attest to multiple bidding wars across price points, which makes the quarter-over-quarter average sales price growth of 11.25% unsurprising. The same strength was present in average PPSF numbers, increasing 10.56% this quarter.
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,628,244
11.25%
$1,463,568
12.03%
$1,453,346
$1,390
10.56%
$1,258
12.69%
$1,234
$1,350,000
7.88%
$1,251,356
15.09%
$1,172,957
539
361
592
The four-quarter trailing average is $1,316
$1.63MM
AVERAGE SALES PRICE THIS QUARTER
(in Millions)
PSF and over $1.5MM gross.
$20 $20.0
$2000 $2,000
$16.0 $16
$1,600 $1600
$12.0 $12
$1,200 $1200
$8.0 $8
$800
$4.0 $4
$400
$0.0 $0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 5
BROOKLYN HEIGHTS Townhouse Summary There were nine recorded townhouse sales
1 to 4 Family Townhouses
this second quarter, which while are high numbers for the neighborhood, relate market for multiple months becoming more negotiable. Average sales price was slightly down from the prior quarter. The fourquarter trailing average is $1,632 PSF and over $6.5MM gross
$6.17MM
AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
to several homes that have been on the
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$6,173,333
-5.30%
$6,518,750
-7.31%
$6,660,000
$1,817
31.89%
$1,377
6.54%
$1,705
$6,450,000
-0.77%
$6,500,000
19.44%
$5,400,000
9
4
5
$30.0
$4000 $4,000
$24.0
$3,200 $3200
$18.0
$2,400 $2400
$12.0
$1,600 $1600
$6.0
$800 $800
$0.0
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Condo Summary Brooklyn Heights saw 28 condo deals close
Condominium Units
this period, largely from three buildings: sponsors at One Clinton and Quay Tower, and resales at One Brooklyn Bridge Park. Average sales price was 10.84% lower on a quarter-over-quarter basis, and even more so on a year-over-year comparison. Average PPSF was $1,509 PSF, which is 1.08% below last quarter’s level. The four-quarter
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,719,700
-10.84%
$3,050,455
-14.67%
$3,187,319
$1,509
-1.08%
$1,525
-6.98%
$1,622
$2,462,500
-18.23%
$3,011,398
-24.00%
$3,240,000
28
15
43
trailing average is $1,508 PSF and just under
6.98%
AVERAGE PPSF DECREASE YEAR OVER YEAR
(in Millions)
$2.6MM gross.
$20 $20.0
$2000 $2,000
$16.0 $16
$1,600 $1600
$12.0 $12
$1,200 $1200
$8.0 $8
$800 $800
$4.0 $4
$400 $400
$0.0 $0
20201Q 20202Q 20203Q 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 6
COBBLE HILL Townhouse Summary There were six townhouse transactions in
1 to 4 Family Townhouses
Cobble Hill this quarter, where one deal closed north of $7MM as a result of multiple offers and its improved condition. With that said, average sales price was down from the prior quarter, as most of the closed homes in the set were smaller multi-family properties closing below $3MM. Reasonably, average PPSF was lower at $1,161 PSF. The four-
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$3,876,667
-19.57%
$4,820,000
3.38%
$3,750,000
$1,161
-16.48%
$1,390
-3.56%
$1,204
$3,000,000
-38.78%
$4,900,000
-19.57%
$3,730,000
6
5
11
quarter trailing average is $1,349 PSF and
$1,349
(in Millions)
just over $4.65MM gross.
AVERAGE PPSF TRAILING OVER FOUR QUARTERS
$9.0
$2500 $2,500
$7.2
$2,000 $2000
$5.4
$1,500 $1500
$3.6
$1,000 $1000
$1.8
$500 $500
$0.0
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The second quarter in Cobble Hill saw
Condominium Units
an incredible 14 closed condo sales. The interesting mix of new development sponsor units at River Park with one-bedroom units at the converted worker housing building at Cobble Hill Towers muddles the average pricing metrics, but on the year, both average sales price and PPSF are up significantly. The four-quarter trailing average is $1,526 PSF
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,948,371
-36.67%
$3,076,312
76.91%
$1,101,326
$1,553
-10.05%
$1,727
39.05%
$1,117
$1,692,500
-57.59%
$3,991,132
31.07%
$1,291,305
14
5
8
39.05%
AVERAGE PPSF INCREASE YEAR OVER YEAR
(in Millions)
and over $2.1MM gross. \ $8.0
$2000 $2,000
$6.4
$1,600 $1600
$4.8
$1,200 $1200
$3.2
$800
$1.6
$400
$0.0 $0.0.0
PPSF PRICE
$0 $0 2020 20201Q 2020 20202Q 2020 20203Q 2020 20204Q 2021 2021 1Q 2021 2021 2Q 2021 20213Q 2021 20214Q 2022 20221Q 2022 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 7
CARROLL GARDENS Townhouse Summary Carroll Gardens saw another strong period at
1 to 4 Family Townhouses
12 recorded deals. Average sales price and PPSF continued its growth, which is notable because pricing from last quarter was strong primarily due to the prevalence of two-family homes, but this quarter’s set contains more three- and four-family homes in need of renovation, suggesting that buyers may be more willing to put in the work themselves and are invested in the neighborhood
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$3,639,815
4.08%
$3,497,083
8.42%
$3,357,071
$1,200
3.21%
$1,162
12.66%
$1,065
$3,662,500
27.61%
$2,870,000
28.51%
$2,850,000
12
12
7
long term. The four-quarter trailing average is
$1,200
(in Millions)
$1,214 PSF and just under $3.5MM gross.
AVERAGE PPSF THIS QUARTER
$10.0
$2500 $2,500
$8.0
$2,000 $2000
$6.0
$1,500 $1500
$4.0
$1,000 $1000
$2.0
$500
$0.0
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Eight condo transactions closed in Carroll
Condominium Units
Gardens this quarter. Average sales price decreased quite substantially from the prior quarter, which makes sense as the prior quarter’s gross numbers were propped up by the 2- and 3-bedrooms in the set. Average PPSF was only 1.94% down on the quarter, and by a similar degree on the year at $1,202 PSF. The four-quarter trailing
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,165,313
-25.58%
$1,565,833
-24.70%
$1,547,600
$1,202
-1.94%
$1,226
-1.25%
$1,217
$881,250
-26.56%
$1,200,000
-37.41%
$1,408,000
8
9
15
average is $1,240 PSF and just over $1.4MM
$1,202
AVERAGE PPSF THIS QUARTER
(in Millions)
gross.
$5.0 $5.0
$2000 $2,000
$4.0 $4.0
$1,600 $1600
$3.0 $3.0
$1,200 $1200
$2.0 $2.0
$800
$1.0 $1.0
$400
$0.0 $0.0
2020 2020 2020 2020 2021 2021 20213Q 2021 2022 2022 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 4Q 2022 1Q 2022 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 8
COLUMBIA STREET WATERFRONT DISTRICT Townhouse Summary There was one townhouse transaction in
1 to 4 Family Townhouses
CSWD this quarter. The three-family home on Woodhull Street traded for $1.95MM. The four-quarter trailing average is $1,266
Average Sales Price
PSF and over $2.4MM gross.
Average Price Per Sq Ft Median Sales Price
$1,266
AVERAGE PPSF TRAILING OVER FOUR QUARTERS
(in Millions)
Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,950,000
-
-
11.43%
$1,750,000
$926
-
-
-25.69%
$1,246
$1,950,000
-
-
11.43%
$1,750,000
1
0
1
$5.0
$2,500
$4.0
$2,000
$3.0
$1,500
$2.0
$1,000
$1.0
$500
$0.0
2020 2020 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 20201Q 20202Q 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Columbia Street Waterfront District saw
Condominium Units
another 6 condo transactions this quarter. Average sales price was much higher at the quarter, which suggests the bulk of the transactions were just larger units. The fourquarter trailing average is $1,166 PSF and over $1.3MM gross.
$1,239 AVERAGE PPSF THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
$1.40MM, but average PPSF was level on
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,402,500
12.20%
$1,250,000
25.29%
$1,119,375
$1,239
0.17%
$1,237
8.16%
$1,146
$1,435,000
29.28%
$1,110,000
28.41%
$1,117,500
6
6
4
$3.75 $3.75
$2000 $2,000
$3.00 $3.00
$1,600 $1600
$2.25 $2.25
$1,200 $1200
$1.50 $1.50
$800
$0.75 $0.75
$400
PPSF PRICE
$0.00 $0 $0.00 20201Q 20202Q 20203Q 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 9
BOERUM HILL Townhouse Summary Boerum Hill continued to bustle with activity
1 to 4 Family Townhouses
this second quarter of 2022 with 9 recorded townhouse transactions. Average sales price was above levels last year, but below last quarter at $3.26MM. Average PPSF was lower this quarter than both periods we track at $1,042 PSF, negatively skewed by two multi-family properties in need of a gut renovation. The four-quarter trailing average
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$3,263,848
-13.10%
$3,755,993
2.40%
$3,187,500
$1,042
-17.05%
$1,256
-2.81%
$1,072
$3,318,000
-10.32%
$3,700,000
2.09%
$3,250,000
9
7
4
is $1,199 PSF and over $3.5MM gross.
AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
$2500 $2,500
$8.0 $8.0
$2,000 $2000
$6.0 $6.0
$1,500 $1500
$4.0 $4.0
$1,000 $1000
$2.0 $2.0
$500
(in Millions)
2.40%
$10.0 $10.0
$0.0 $0.0
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Boerum Hill saw 22 condo transactions
Condominium Units
this second quarter, a big uptick in volume largely attributed to recorded sales in the Average sales price was level with the prior quarter at $1.79MM, but average PPSF saw moderate increases to $1,395 PSF. The fourquarter trailing average is $1,353 PSF and over $1.6MM gross.
$1,395 AVERAGE PPSF THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
new development building 561 Pacific.
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,794,604
0.66%
$1,782,841
1.36%
$1,770,492
$1,395
2.20%
$1,365
6.12%
$1,315
$1,700,000
-4.24%
$1,775,356
4.62%
$1,625,000
22
9
19
$7.5
$2000 $2,000
$6.0
$1,600 $1600
$4.5
$1,200 $1200
$3.0
$800 $800
$1.5
$400
$0.0 $0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 3Q 2021 4Q 2022 1Q 2022 2Q 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 10
GOWANUS Townhouse Summary Gowanus had 9 townhouse transactions
1 to 4 Family Townhouses
this quarter, almost double the prior quarter. Average sales price was down 12.68% but However, on the year, the metrics saw movement in the opposite direction. The four-quarter trailing average is $1,166 PSF and under $2.4MM gross.
$2.17MM AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
average PPSF was up 2.35% this quarter.
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,173,380
-12.68%
$2,489,000
-3.00%
$2,240,625
$1,157
2.35%
$1,131
17.81%
$982
$1,985,300
-9.72%
$2,199,000
1.94%
$1,947,500
9
5
8
$5.0
$2,500
$4.0
$2,000
$3.0
$1,500
$2.0
$1,000
$1.0
$500
$0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Gowanus saw 13 condo transactions this
Condominium Units
quarter, more than double the amount the prior quarter. An influx of new development to $1.58MM and average PPSF to $1,289 PSF this quarter, which on a gross basis is the highest average since 2Q18. The fourquarter trailing average is $1,185 PSF and over $1.2MM gross.
$1.58MM AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
condos charged the average sales price
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,576,750
58.08%
$997,417
76.13%
$895,233
$1,289
16.04%
$1,111
16.77%
$1,104
$1,379,000
30.40%
$1,057,500
90.21%
$725,000
13
6
15
$5.0
$2000 $2,000
$4.0
$1,600 $1600
$3.0
$1,200 $1200
$2.0
$800
$1.0
$400
$0.0
20201Q 20202Q 20203Q 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 11
FORT GREENE Townhouse Summary Fort Greene had only 5 closed deals this
1 to 4 Family Townhouses
quarter, a continued drop in volume from the first quarter. Average sales price returned to more normal levels for the neighborhood, where the highest priced deal was $3.11MM - last quarter had 3 out of the 6 deals occur above $3.5MM. Average PPSF was also down, now to $991 PSF. The four-quarter trailing average is $1,043 PSF and just over
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,709,000
-14.95%
$3,185,000
-16.09%
$3,228,333
$991
-1.68%
$1,008
6.13%
$934
$2,875,000
-5.74%
$3,050,000
-7.56%
$3,110,000
5
6
12
14.95%
AVERAGE SALES PRICE DECREASE QUARTER OVER QUARTER
(in Millions)
$3.0MM gross.. $7.5 $7.5
$2500 $2,500
$6.0 $6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0
$1,000 $1000
$1.5
$500 $500
$0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 3Q 2021 4Q 2022 1Q 2022 2Q 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Fort Greene saw three times as many condo
Condominium Units
transactions at 12 this quarter. Average sales price decreased significantly on the larger units at One Hanson Place. Average PPSF at $1,056 PSF decreased 11.01% on the quarter but was just minimally down on the year. The four-quarter trailing average is $1,128 PSF and over $1.2MM gross.
$1.16MM
AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
quarter, as most listings last quarter were
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,155,017
-37.02%
$1,834,000
-5.46%
$1,221,761
$1,056
-11.01%
$1,187
-1.89%
$1,076
$934,500
-39.04%
$1,533,000
-20.47%
$1,175,000
12
4
9
$3.75
$2000 $2,000
$3.00
$1,600 $1600
$2.25
$1,200 $1200
$1.50
$800
$0.75
$400 $400
PPSF PRICE
$0.00 $0 2020 2020 2020 2020 2021 2021 20213Q 2021 2022 2022 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 4Q 2022 1Q 2022 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 12
Townhouse Market Neighborhood Overview Average Price Per Sq Ft
Average Sales Price
Average SF
Total # of Properties
Gross Transaction Volume
# of Transactions
% of Total Transactions
Brooklyn Heights
$1,817
$6,173,333
3,494
509
$55,560,000
9
4%
Cobble Hill
$1,161
$3,876,667
3,282
987
$23,260,000
6
3%
Carroll Gardens
$1,200
$3,639,815
3,025
1,461
$43,677,785
12
6%
Prospect Heights
$1,123
$3,511,314
3,197
925
$24,579,200
7
3%
Park Slope
$1,130
$3,354,981
3,012
5,588
$120,779,304
36
17%
Boerum Hill
$1,042
$3,263,848
3,173
810
$29,374,629
9
4%
Clinton Hill
$1,003
$2,946,000
2,962
1,376
$26,514,000
9
4%
Fort Greene
$991
$2,709,000
2,757
1,260
$13,545,000
5
2%
Greenpoint
$1,037
$2,327,988
2,410
2,199
$51,215,726
22
11%
$911
$2,294,357
2,738
3,099
$41,298,425
18
9%
$1,157
$2,173,380
2,031
984
$19,560,422
9
4%
Columbia Water District
$926
$1,950,000
2,106
204
$1,950,000
1
0%
Bedford-Stuyvesant (West)
$748
$1,866,833
2,645
4,397
$52,271,322
28
13%
Bedford-Stuyvesant (East)
$620
$1,631,352
2,764
6,863
$61,991,373
38
18%
Downtown Brooklyn
-
-
-
75
-
-
0%
DUMBO
-
-
-
4
-
-
0%
$980
$2,709,945
2,820
30,741
$569,088,500
210
100%
Market*
Williamsburg Gowanus
ALL
* Ranked by “Average Sales Price”
Top 5 Townhouse Sales By Sales Price Rank
Address
Neighborhood Sales Price
Top 5 Townhouse Sales By Price Per Square Foot Square Feet
$PSF
Rank
Address
Neighborhood
Sales Price
Square Feet
$PSF
1
16 Remsen St
Brooklyn Heights
$9,995,000
6,100
$1,639
1
32 College Pl
Brooklyn Heights
$6,450,000
2,820
$2,287
2
250 Garfield Pl
Park Slope
$8,120,000
4,200
$1,933
2
30 College Pl
Brooklyn Heights
$5,500,000
2,440
$2,254
3
459 Henry St
Cobble Hill
$7,300,000
3,693
$1,977
3
459 Henry St
Cobble Hill
$7,300,000
3,693
$1,977
4
527 3rd St
Park Slope
$7,300,000
4,016
$1,818
4
250 Garfield Pl
Park Slope
$8,120,000
4,200
$1,933
$7,150,000
4,585
$1,559
5
$5,350,000
2,800
$1,911
5
67 Cranberry St Brooklyn Heights
2 Grace Court Aly Brooklyn Heights
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 13
Condominium Market Neighborhood Overview Market*
Average Price Per Sq Ft
Average Sales Price
Average SF
Total # of Properties
Gross Transaction Volume
# of Transactions
% of Total Transactions
DUMBO
$1,622
$2,019,670
1,222
1,266
$171,671,962
85
16%
Cobble Hill
$1,553
$1,948,371
1,161
669
$27,277,198
14
3%
Brooklyn Heights
$1,509
$2,719,700
1,811
950
$76,151,613
28
5%
Park Slope
$1,506
$2,063,378
1,325
3,017
$125,866,059
61
11%
Downtown Brooklyn
$1,494
$1,431,213
966
1,742
$127,377,942
89
17%
Boerum Hill
$1,395
$1,794,604
1,243
907
$39,481,278
22
4%
Williamsburg
$1,377
$1,504,864
1,115
9,805
$129,418,318
86
16%
Greenpoint
$1,318
$1,145,394
847
1,313
$22,907,878
20
4%
Gowanus
$1,289
$1,576,750
1,206
610
$20,497,747
13
2%
Prospect Heights
$1,275
$1,410,083
1,112
1,544
$42,302,500
30
6%
Columbia Water District
$1,239
$1,402,500
1,121
746
$8,415,000
6
1%
Carroll Gardens
$1,202
$1,165,313
953
733
$9,322,500
8
1%
Clinton Hill
$1,196
$1,197,767
989
1,064
$17,966,500
15
3%
Fort Greene
$1,056
$1,155,017
1,097
879
$13,860,200
12
2%
Bedford-Stuyvesant (West)
$908
$980,880
1,140
2,675
$30,407,295
31
6%
Bedford-Stuyvesant (East)
$870
$773,658
928
450
$14,699,504
19
4%
$1,390
$1,628,244
1,154
28,370
$877,623,494
539
100%
ALL
* Ranked by “Average Price Per Sq Ft”
Top 5 Condominium Sales By Sales Price
Top 5 Condominium Sales By Price Per Square Foot
Address
Neighborhood
Sales Price
Square Feet
$PSF
Rank
180 Front St #PHA
DUMBO
$7,500,000
3,236
$2,318
1
2 1 Prospect Park W #PHD
Park Slope
$6,500,000
3,333
$1,950
3 1 Prospect Park W #9A
Park Slope
$5,986,472
3,186
Rank 1
Address
Neighborhood
Sales Price
Square Feet
$PSF
180 Front St #PHA
DUMBO
$7,500,000
3,236
$2,318
2 1 Prospect Park W #PHC
Park Slope
$3,830,813
1,686
$2,272
$1,879
3 1 Prospect Park W #PHF
Park Slope
$3,687,869
1,693
$2,178
4
72 Poplar St #TH
Brooklyn Heights
$5,700,000
5,240
$1,088
4
347 Henry St #8B
Cobble Hill
$4,373,914
2,014
$2,172
5
429 Kent Ave #PH2
Williamsburg
$4,990,876
5,097
$979
5
347 Henry St #12A
Cobble Hill
$4,603,583
2,125
$2,166
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 14
CLINTON HILL Townhouse Summary Clinton Hill saw 9 townhouse transactions
1 to 4 Family Townhouses
this quarter. Average sales price saw decreases of 1.73% on the quarter to $2.95MM, a return to more expected
Average Sales Price
levels in the neighborhood. Average PPSF
Average Price Per Sq Ft
saw similar minor decreases quarter-overquarter, but was still significantly over levels
Median Sales Price
we saw a year ago. The four-quarter trailing
Number of Sales
average is $937 PSF and just over $2.6MM
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,946,000
-1.73%
$2,998,000
-2.68%
$3,027,000
$1,003
-2.79%
$1,032
14.89%
$873
$2,690,000
-12.23%
$3,065,000
-11.07%
$3,025,000
9
10
5
$1,003
AVERAGE PPSF THIS QUARTER
(in Millions)
gross. $7.5
$2500 $2,500
$6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0
$1,000 $1000
$1.5
$500
$0.0 $0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary There were 15 condo transactions this
Condominium Units
quarter in Clinton Hill. Average sales price declined on the quarter but was still higher than the prior year. Average PPSF saw increases on both periods, namely on the year. The four-quarter trailing average is $1,138 PSF and just under $1.2MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price
13.41%
AVERAGE PPSF INCREASE YEAR OVER YEAR
(in Millions)
Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,197,767
-7.76%
$1,298,575
10.87%
$1,080,306
$1,196
2.35%
$1,168
13.41%
$1,055
$1,150,000
-7.55%
$1,243,950
35.29%
$850,000
15
12
17
$3.75 $3.75
$2000 $2,000
$3.00 $3.00
$1600 $1,600
$2.25
$1200 $1,200
$1.50
$800
$0.75
$400
$0.0 $0.00
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 3Q 2021 4Q 2022 1Q 2022 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 15
PROSPECT HEIGHTS Townhouse Summary There were 7 townhouse transactions this
1 to 4 Family Townhouses
quarter in Prospect Heights, a continued growth in volume. Average sales price rose to corner two-family home closing just under $6.40MM. Average PPSF increased, as well, to $1,123 PSF. The four-quarter trailing average is $1,156 PSF and just under $3.1MM gross.
24.91%
AVERAGE SALES PRICE INCREASE QUARTER OVER QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
$3.51MM, positively skewed by a renovated
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$3,511,314
24.91%
$2,811,000
49.52%
$2,348,333
$1,123
16.49%
$964
23.29%
$911
$3,184,750
9.82%
$2,900,000
38.47%
$2,300,000
7
5
6
$7.5
$2500 $2,500
$6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0 $3.0
$1,000 $1000
$1.5 $1.5
$500
$0.0 $0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Prospect Heights saw 30 condo transactions
Condominium Units
this quarter, an exponential growth in volume over the last year. Average sales price increased 10.76% from last quarter to $1.41MM, again with primarily larger units (2- and 3-bedrooms) trading. Average PPSF was $1,275 PSF, which is just under a 3% increase on the quarter. The four-quarter trailing average is $1,281 PSF and over
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,410,083
10.76%
$1,273,147
-2.09%
$1,440,224
$1,275
2.78%
$1,241
8.79%
$1,172
$1,307,500
11.75%
$1,170,000
18.86%
$1,100,000
30
17
21
$1.41MM
AVERAGE SALES PRICE THIS QUARTER
(in Millions)
$1.5MM gross. $6.0
$2000 $2,000
$4.8
$1,600 $1600
$3.6
$1,200 $1200
$2.4
$800
$1.2
$400
$0.0
20201Q 20202Q 20203Q 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 16
PARK SLOPE Townhouse Summary Park Slope had 36 recorded townhouse
1 to 4 Family Townhouses
deals this second quarter, which was just below the level of last quarter’s volume. we measure by an average of 4.58%. Average PPSF at $1,130 PSF was up on the quarter and down on the year. The fourquarter trailing average is $1,101 PSF and over $3.2MM gross.
3.57%
AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
Average sales price was up on both periods
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$3,354,981
5.60%
$3,176,921
3.57%
$3,239,375
$1,130
3.05%
$1,097
-1.58%
$1,148
$3,087,500
1.81%
$3,032,500
2.07%
$3,025,000
36
40
40
$20.0
$2500 $2,500
$16.0
$2,000 $2000
$12.0
$1,500 $1500
$8.0
$1,000 $1000
$4.0
$500 $500
$0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Condo Summary Park Slope saw 61 condo transactions this
Condominium Units
second quarter, a huge jump in volume over the last quarter and year, where over 20% of deals were recorded in the new development project at One Prospect Park West. As such, pricing metrics increased significantly as well, with average sales price now at $2.06MM and average PPSF at $1,506 PSF. The four-quarter trailing average
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,063,378
51.21%
$1,364,548
52.39%
$1,354,035
$1,506
14.66%
$1,313
22.85%
$1,225
$1,710,000
33.59%
$1,280,000
26.20%
$1,355,000
61
23
43
$1,506
AVERAGE PPSF THIS QUARTER
(in Millions)
is $1,370 PSF and over $1.6MM gross. $7.5 $7.5
$2000 $2,000
$6.0
$1,600 $1600
$4.5
$1,200 $1200
$3.0
$800
$1.5 $1.5
$400
$0.0
2020 2020 1Q 2020 2020 2Q 2020 2020 3Q 2020 2020 4Q 2021 2021 1Q 2021 2021 2Q 2021 20213Q 2021 20214Q 2022 20221Q 2022 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 17
BEDFORD-STUYVESANT (West) Townhouse Summary There were 28 townhouse transactions
1 to 4 Family Townhouses
in Bedford-Stuyvesant West this second quarter of 2022. Average sales price increased by 13.15% on the year to
Average Sales Price
$1.87MM, which is a strong surge from
Average Price Per Sq Ft
levels a year ago. Average PPSF increased as well, where what once was $692 PSF last
Median Sales Price
quarter is now $748 PSF. The four-quarter
Number of Sales
trailing average is $703 PSF and just under
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,866,833
4.03%
$1,794,485
13.15%
$1,649,864
$748
8.09%
$692
23.17%
$607
$1,722,500
-0.14%
$1,725,000
18.79%
$1,450,000
28
27
33
$748
AVERAGE PPSF THIS QUARTER
(in Millions)
$1.85MM gross. $7.5
$2500 $2,500
$6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0 $3.0
$1,000 $1000
$1.5 $1.5
$500
$0.0 $0.0
2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Condo transaction volume in Bedford-
Condominium Units
Stuyvesant West saw a big drop this quarter to 31. While volume slowed down, pricing price rose 2.26% on the quarter to $980K and average PPSF by 9.74% to $908 PSF. The four-quarter trailing average is $861 PSF and just over $943K gross.
$908
AVERAGE PPSF THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
continued its climb, where average sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$980,880
2.26%
$959,198
2.86%
$953,565
$908
9.74%
$828
14.61%
$793
$908,700
-1.23%
$920,000
0.29%
$906,090
31
50
84
$3.75
$2000 $2,000
$3.00
$1,600 $1600
$2.25
$1,200 $1200
$1.50
$800
$0.75
$400
$0.0
2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 18
BEDFORD-STUYVESANT (East) Townhouse Summary Bedford-Stuyvesant East had 38 townhouse
1 to 4 Family Townhouses
transactions this quarter. While the neighborhood’s deal volume decreased periods we track. Namely, average sales price increased 11.13% on the quarter. The four-quarter trailing average is $609 PSF and over $1.5MM gross.
11.13%
AVERAGE SALES PRICE INCREASE QUARTER OVER QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
slightly, pricing metrics were up on both
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,631,352
11.13%
$1,467,929
9.30%
$1,492,493
$620
6.14%
$584
5.36%
$588
$1,500,000
4.53%
$1,435,000
0.84%
$1,487,500
38
42
62
$3.75
$1500 $1,500
$3.0
$1,200 $1200
$2.25
$900 $900
$1.50
$600 $600
$0.75
$300 $300
$0.0
20201Q 20202Q 20203Q 20204Q 20211Q 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 2021 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Condo Summary Bedford-Stuyvesant East had 19 condo
Condominium Units
transactions this second quarter. Average sales price increased 5.33% quarter-overover-year. Average PPSF remained fairly level on the quarter but was up by 5.38% on the year. The four-quarter trailing average is $872 PSF and just over $760K gross.
$870
AVERAGE PPSF THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$773,658
5.33%
$734,531
11.10%
$696,357
$870
-0.81%
$877
5.38%
$825
$820,000
2.18%
$802,500
13.18%
$724,500
19
13
14
$2.0 $2.0
$1500 $1,500
$1.6 $1.6
$1,200 $1200
$1.2 $1.2
$900 $900
$1.8 $0.8
$600 $600
$0.4
$300 $300
(in Millions)
quarter to $774K, and more notably year-
2Q22
$0.0
2020 2020 2020 2020 2021 2021 20213Q 2021 2022 2022 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 4Q 2022 1Q 2022 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 19
DOWNTOWN BROOKLYN Townhouse Summary There were no townhouse transactions in
1 to 4 Family Townhouses
Downtown Brooklyn this quarter. The four-
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
Average Sales Price
-
-100.00%
$3,608,500
-100.00%
$2,999,000
Average Price Per Sq Ft
-
-100.00%
$765
-100.00%
$952
Median Sales Price
-
-100.00%
$3,608,500
-100.00%
$2,999,000
Number of Sales
0
over $3.3MM gross.
$759
AVERAGE PPSF TRAILING OVER FOUR QUARTERS
(in Millions)
quarter trailing average is $759 PSF and just
2
1
$8.0 $8.0
$2,500
$6.4 $6.4
$2,000
$4.8 $4.8
$1,500
$3.2 $3.2
$1,000
$1.6 $1.6
$500
$0.0 $0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Downtown Brooklyn saw 89 closed deal
Condominium Units
recorded this quarter, a majority belonging to the two new development condo buildings price moved up ever so slightly to $1.43MM, meanwhile average PPSF moved up 6.49% to $1,494 PSF. The four-quarter trailing average is $1,471 PSF and under $1.5MM gross.
$1.43MM AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
at 11 Hoyt and Brooklyn Point. Average sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,431,213
0.16%
$1,428,910
-11.63%
$1,619,516
$1,494
6.49%
$1,403
-2.06%
$1,526
$1,325,000
1.34%
$1,307,500
-5.02%
$1,395,000
89
40
121
$5$5.0
$2000 $2,000
$4$4.0
$1,600 $1600
$3.0 $3
$1,200 $1200
$2$2.0
$800
$1$1.0
$400
$0.0 $0
20201Q 20202Q 20203Q 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 2020 2020 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 20
GREENPOINT Townhouse Summary Greenpoint saw a considerable uptick in
1 to 4 Family Townhouses
townhouse transactions this quarter to 22. Average sales price was $2.33MM, which was up on both periods we track but more
Average Sales Price
on the year. Average PPSF also saw increases,
Average Price Per Sq Ft
but more on the quarter, indicating that this quarter’s closed sales were smaller,
Median Sales Price
but pricier homes. The four-quarter trailing
Number of Sales
average is $890 PSF and just under $2.2MM
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,327,988
5.58%
$2,205,033
17.27%
$1,985,119
$1,037
22.98%
$843
9.66%
$946
$2,300,000
10.84%
$2,075,000
38.64%
$1,659,000
22
15
21
17.27%
AVERAGE SALES PRICE INCREASE YEAR OVER YEAR
(in Millions)
gross. $7.5
$2500 $2,500
$6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0 $3.0
$1,000 $1000
$1.5 $1.5
$500
$0.0 $0.0
2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary The second quarter in Greenpoint saw
Condominium Units
20 condo transactions. Despite growing interest in the neighborhood, average sales price decreased by 5.53% on the quarter to $1.15MM. Average PPSF was level on the quarter, but up on the year by 6.65%. The four-quarter trailing average is $1,309 PSF and just over $1.2MM gross.
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
AVERAGE PPSF INCREASE YEAR OVER YEAR
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,145,394
-5.53%
$1,212,455
-7.26%
$1,235,065
$1,318
-1.00%
$1,331
6.65%
$1,235
$845,000
-26.36%
$1,147,500
-22.12%
$1,085,000
20
12
23
$5$5.0
$2000 $2,000
$4$4.0
$1,600 $1600
$3.0 $3
$1,200 $1200
(in Millions)
6.65%
2Q22
$2$2.0
$800
$1$1.0
$400
$0.0 $0
2020 20201Q 2020 20202Q 2020 20203Q 2020 20204Q 2021 2021 1Q 2021 2021 2Q 2021 20213Q 2021 20214Q 2022 20221Q 2022 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 21
WILLIAMSBURG Townhouse Summary Williamsburg
saw
18
townhouse
1 to 4 Family Townhouses
transactions this quarter. Despite the slowdown in volume, average sales price periods, most notably on the year by 39.86% and 29.30% respectively. The fourquarter trailing average is $864 PSF and just over $2.1MM gross.
$2.29MM AVERAGE SALES PRICE THIS QUARTER
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
(in Millions)
and PPSF increased significantly on both
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,294,357
11.55%
$2,056,743
39.86%
$1,640,499
$911
11.14%
$819
29.30%
$704
$2,336,750
23.97%
$1,885,000
41.62%
$1,650,000
18
23
19
$7.5
$2500 $2,500
$6.0
$2,000 $2000
$4.5
$1,500 $1500
$3.0 $3.0
$1,000 $1000
$1.5 $1.5
$500
$0.0 $0.0
2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
Condo Summary Williamsburg saw 86 condo transactions
Condominium Units
this quarter, which is a slight lull in activity compared with the prior quarter. Average significantly up on the year. Whereas average PPSF was up on both periods, notably on the year. The four-quarter trailing average is $1,338 PSF and just under $1.5MM gross.
17.42%
AVERAGE PPSF INCREASE YEAR OVER YEAR
Average Sales Price Average Price Per Sq Ft Median Sales Price Number of Sales
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$1,504,864
-0.32%
$1,509,737
24.14%
$1,212,255
$1,377
3.03%
$1,336
17.42%
$1,172
$1,319,000
0.69%
$1,310,000
18.30%
$1,115,000
86
111
126
$7.5
$2000 $2,000
$6.0
$1,600 $1600
$4.5
$1,200 $1200
$3.0
$800
$1.5
$400
(in Millions)
sales price was level on the quarter, but
2Q22
$0.0
2020 2020 2020 2020 2021 2021 20213Q 20214Q 20221Q 20222Q 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 2022 2022 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0
All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
2Q 2022 Market Report | 22
DUMBO Condo Summary There were an incredible 85 condo
Condominium Units
transactions this quarter in DUMBO. The continued strong activity was made up of over 60% of deals from Front & York, where the sponsor offered concessions like covering
Average Sales Price
a year of common charges. Average sales
Average Price Per Sq Ft
price was $2.02MM and average PPSF was
Median Sales Price
$1,622 PSF, both continuing to increase due to the sales at new development projects.
Number of Sales
2Q22
%∆ (Qtr)
1Q22
%∆ (Yr)
2Q21
$2,019,670
15.19%
$1,753,264
10.23%
$1,832,223
$1,622
12.42%
$1,443
11.61%
$1,453
$1,940,000
29.77%
$1,495,000
26.80%
$1,530,000
85
29
30
The four-quarter trailing average is $1,538
$2.02MM AVERAGE SALES PRICE THIS QUARTER
(in Millions)
PSF and just over $2.0MM gross.
$20 $20.0
$2000 $2,000
$16.0 $16
$1,600 $1600
$12.0 $12
$1200 $1,200
$8.0 $8
$800
$4.0 $4
$400 $400
$0.0 $0
2020 2020 2020 2020 2021 2021 20213Q 2021 2022 2022 2020 1Q 2020 2Q 2020 3Q 2020 4Q 2021 1Q 2021 2Q 2021 2021 4Q 2022 1Q 2022 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
PPSF PRICE
$0 $0
Would You Like To Know What Your Property Is Worth? Engel & Völkers Brownstone Brooklyn agents are your local experts— attuned to the fluctuating Brooklyn and Manhattan real estate markets. Let us provide you with a comprehensive and up-to-date complimentary valuation of your property, or a property that you are interested in acquiring. Simply call or email Donald using the contact information noted below. From representing residential buyers and sellers in re-sales and new development (townhouses, condos and co-ops), to landlords and renters of multi-family properties, Engel & Völkers Brownstone Brooklyn is a respected and trusted advisor. Advocacy is central to everything we do. No matter what your goals are, our team has decades of experience to help you reach them. This report was created with contributions from Engel & Völkers Brownstone Brooklyn team members Kyle Gregory and Peyton Yen. Donald P. Brennan, Jr. License Partner | Real Estate Broker Engel & Völkers Brownstone Brooklyn Brennan Realty Services, LLC 45 Main Street, Suite 824 Brooklyn, NY 11201 Email: donald.brennan@evrealestate.com Cell: (917) 568-6525 Web: brownstonebrooklyn.evrealestate.com All materials presented herein are prepared by Brennan Realty Services LLC, and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through StreetEasyTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
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