WEEKLY REPORT July 27 – August 2, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 27 – August 2, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 16 new properties priced above $2.25MM new to market this week. New for-sale listings continue to ebb and flow as we see half as many properties hit the market going into August this week. Average asking price is down by 21% on the week, and by a similar degree on the month to $3.16MM. Median asking price is 3% below last week. Average PPSF is $1,215, which is down 9% week-over-week. Total volume is $50.47MM. Of the 9 townhouse resales, top asking price of $4.95MM belongs to the 5-bedroom, 3-bathroom single-family home at 191 Washington Park in Fort Greene. While average asking price is down 21% week-over-week, median asking price is level with last week. Average PPSF is $1,094, which is down 8% from last week.
16
Listings
$3,154,250
Average Asking Price
$2,847,500
Median Asking Price
$1,215
Average PPSF
$50,468,000 Total Volume
For condo resales, top asking price of $3.295MM belongs to a townhouse-style condominium at 80 Metropolitan Avenue, #THB in Williamsburg. Average and median asking price are both down on the week similarly by 16%. PPSF is down 18% week-over-week at $1,287. Two sponsor units are new to market this week. In DUMBO, a garden residence at 98 Front Street is listed for $2.995MM. Compared with last week’s new sponsor listings, while average asking is down 22%, PPSF is up 15% at $1,580. 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 & 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 27 – August 2, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
9
–
Average Asking Price
$3,592,111
–
Median Asking Price
$3,195,000
–
$1,094
–
Total Volume
$32,329,000
– –
CONDOS
Resale
Sponsor
5
2
Average Asking Price
$2,539,000
$2,722,000
Median Asking Price
$2,350,000
$2,722,000
$1,287
$1,580
$12,695,000
$5,444,000
Resale
Sponsor
Listings
–
–
Average Asking Price
–
–
Median Asking Price
–
–
Average PPSF
–
–
Total Volume
–
–
Listings
Average PPSF
Listings
Average PPSF Total Volume
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 27 – August 2, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Seven deals listed above $2.25MM went into contract this week. This week's average asking price is down by 5%, and furthermore, PPSF by 10% week-overweek. With that said, average asking price and PPSF are up 31% and 19%, respectively, month-overmonth. Average days on market is 65 days, but is negatively biased by a deal listed already in contract. Looking at townhouses, the two-family resale at 442 Union Street in Carroll Gardens had contracts signed with the top asking price of $4.395MM. While average asking price for these resales is level with last week, it is impressively up on the month by 43%. The townhouse sponsor at 71 Greene Avenue in Fort Greene entered contract with a last ask of $3.995MM. The price per square foot is $1,110. For condominiums, the resale at 20 Henry Street, #5AS had contracts signed with a last ask of $2.495MM after 40 days on market. The price per square foot is $1,634, which is 145% above last month’s average PPSF. Meanwhile, the sponsor unit at 218 Park Place, #1W (also known as Twine on Park) in Prospect Heights was listed already in contract at $3.25MM. On a price per square foot basis, this is asking for 27% lower than last week’s sponsor unit in Brooklyn Heights at $1,338.
7
Deals
$3,110,714
Average Asking Price
$2,750,000
Median Asking Price
$1,199
Average PPSF
-1.37%
Average Discount
65
Average Days On Market
$21,775,000 Total Volume
The co-op at 9 Prospect Park West, #4A entered contract with a last ask of $2.395MM, which is 9.59% below its original ask, after spending 256 days on market. More information on these deals 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 & 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 27 – August 2, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
3
1
Average Asking Price
$3,213,333
$3,995,000
Median Asking Price
$2,750,000
$3,995,000
$994
$1,110
$9,640,000
$3,995,000
40
36
Resale
Sponsor
1
1
Average Asking Price
$2,495,000
$3,250,000
Median Asking Price
$2,495,000
$3,250,000
$1,634
$1,338
$2,495,000
$3,250,000
40
6
Resale
Sponsor
1
–
Average Asking Price
$2,395,000
–
Median Asking Price
$2,395,000
–
$1,331
–
$2,395,000
–
256
–
Deals
Average PPSF Total Volume Average Days on Market
CONDOS Deals
Average PPSF Total Volume Average Days on Market
CO-OPS Deals
Average PPSF Total Volume Average Days on Market
@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 27 – August 2, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
191 Washington Park
127 South 1 s t Street
98 Front Street, #GRC
FORT GREENE
WILLIAMSBURG
DUMBO
Townhouse
Townhouse
Condominium
5bd,3ba – 3,913 sq ft
6bd,6ba – 4,000 sq ft
2bd,2.5ba – 1,520 sq ft
$4,949,000 / $1,265 psf
$4,750,000 / $1,188 psf
$2,995,000 / $1,970 psf
I n Contract Properties Listed at $2.25MM and Above
442 Union Street
71 Greene Avenue
218 Park Place, #1W
CARROLL GARDENS
FORT GREENE
PROSPECT HEIGHTS
Townhouse
Townhouse
Condominium
5bd,6ba – 4,320 sq ft
4bd,4.5ba – 3,600 sq ft
3bd,4ba – 2,429 sq ft
$4,395,000 / $1,017 psf
$3,995,000 / $1,110 psf
$3,250,000 / $1,338 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 27 – August 2, 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.