WEEKLY REPORT July 20 – 26, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 - 26, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 32 new properties priced above $2.25MM new to market this week. New for-sale listings increased 52% from the previous week, and are now up 39% month-over-month. Average asking price is 7% above last week, however median asking price is down 14%. Average PPSF is $1,328, which is up 3% week-over-week. Total volume is $128.42MM. Of the 20 townhouse resales, record-breaking asking price of $25MM belongs to 88 Remsen Street in Brooklyn Heights, which is relisted after its last ask of $13.5MM earlier in May. The median asking price for this positively skewed distribution is $3.19MM, which is down 20% week-over-week. For condo resales, top asking price of $3.195MM belongs to a duplex at 90 Furman Street, #N101 (also known as Pierhouse) in Brooklyn Heights. Average and median asking price are both down on the week by 23% and 18%, respectively. PPSF is down 3% week-over-week at $1,571, but is level on the month.
32
Listings
$4,013,094
Average Asking Price
$2,925,000
Median Asking Price
$1,328
Average PPSF
$128,419,000 Total Volume
Two sponsor units are new to market this week. In Park Slope, the triplex at 709 Sackett Street, #1 is listed for $4.495MM. Average asking price is up by 3% compared with the previous week, but PPSF is down by 11% to $1,396. Two co-ops overlooking Brooklyn Bridge Park are listed this week. Compared with last week’s co-op in Brooklyn Heights, these are listed for 26% higher on a price per square foot basis. A selection of these notable properties is shown on page 6 of this report.
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & VĂślkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 - 26, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
20
–
Average Asking Price
$4,562,450
–
Median Asking Price
$3,187,500
–
$1,190
–
Total Volume
$91,249,000
– –
CONDOS
Resale
Sponsor
8
2
Average Asking Price
$3,059,375
$3,472,500
Median Asking Price
$2,795,000
$3,472,500
$1,571
$1,396
$24,475,000
$6,945,000
Resale
Sponsor
2
–
Average Asking Price
$2,875,000
–
Median Asking Price
$2,875,000
–
$1,679
–
$5,750,000
–
Listings
Average PPSF
Listings
Average PPSF Total Volume
CO-OPS Listings
Average PPSF Total Volume
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 - 26, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Eight deals listed above $2.25MM went into contract this week: seven townhouse resales and one condominium sponsor unit. Compared with last week, this week's average asking price is up by 29%, but PPSF is down by 4%. With that said, compared with last month, average PPSF of $1,325 is up by 26%. Average days on market is 50 days, but is negatively biased by a deal listed already in contract. Looking at townhouse resales, the seven pending sales mark a rising pace of activity, increasing 250% above activity from the previous month. The 5bedroom, 4-bathroom home at 179 Bergen Street in Boerum Hill had contracts signed with the top asking price of $5.40MM after 30 days on market. In Cobble Hill, the $3.45MM home at 33 Strong Place spent 29 days on market before entering contract. For these deals, average asking price is 27% above the previous week. Average PPSF is $1,251, which is up by 5% week-over-week. Average days on market is 57 days. The sponsor unit at 1 Clinton Street, #18A in Brooklyn Heights was listed already in contract with a last ask of $3.67MM. Compared with last week’s sponsor unit in Boerum Hill, this is asking 38% higher on a price per square foot basis. More information on these deals is shown on page 6 of this report.
8
Deals
$3,276,063
Average Asking Price
$2,999,750
Median Asking Price
$1,325
Average PPSF
-0.82%
Average Discount
50
Average Days On Market
$26,208,500 Total Volume
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & VĂślkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 - 26, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
7
–
Average Asking Price
$3,219,786
–
Median Asking Price
$2,999,500
–
$1,251
–
$22,538,500
–
57
–
Resale
Sponsor
Deals
–
1
Average Asking Price
–
$3,670,000
Median Asking Price
–
$3,670,000
Average PPSF
–
$1,841
Total Volume
–
$3,670,000
Average Days on Market
–
1
Resale
Sponsor
Deals
–
–
Average Asking Price
–
–
Median Asking Price
–
–
Average PPSF
–
–
Total Volume
–
–
Average Days on Market
–
–
Deals
Average PPSF Total Volume Average Days on Market
CONDOS
CO-OPS
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 – 26, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
88 Remsen Street
82 Amity Street
1 John Street, #8A
BROOKLYN HEIGHTS
COBBLE HILL
DUMBO
Townhouse
Townhouse
Condominium
8bd,11.5ba – 8,500 sq ft
5bd,4.5ba – 4,200 sq ft
3bd,3.5ba – 2,595 sq ft
$25,000,000 / $2,941 psf
$5,500,000 / $1,309 psf
$4,995,000 / $1,925 psf
I n Contract Properties Listed at $2.25MM and Above
179 Bergen Street
1 Clinton Street, #18A
33 Strong Place
BOERUM HILL
BROOKLYN HEIGHTS
COBBLE HILL
Townhouse
Condominium
Townhouse
5bd,4ba – 3,104 sq ft
3bd,2.5ba – 1,993 sq ft
5bd,3ba – 3,000 sq ft
$5,400,000 / $1,740 psf
$3,670,000 / $1,841 psf
$3,450,000 / $1,150 psf
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 20 – 26, 2020
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & VĂślkers Brownstone Brooklyn) 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 PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.