WEEKLY REPORT September 21 – 27, 2020
September 21 – 27, 2020 All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 33 properties priced above $2.25MM put on the market this week, marking a strong injection of new inventory. Average asking price and PPSF across these property types both rose 12% to $3.77MM and $1,351PSF, respectively. Total volume is $124.58MM. Of the 17 townhouse resales, top asking price of $10.995MM belongs to the two-family home at 47 Sidney Place in Brooklyn Heights. Average asking is up 10% from last week, but median asking is down 5%, showing price clustering at $3.09MM. On a PPSF basis, this week’s cohort is up 4% WoW and up 6% MoM at $1,176PSF. For the 5 condo resales, top asking price of $4.25MM belongs to a garden duplex with private outdoor space and parking at 51 Jay Street, #1R in DUMBO. Average asking is down 6% to $2.91MM. Furthermore, PPSF is down 10% to $1,163PSF. Nine sponsor units are new to market – the most listed in a single week in our reporting, and all but one belong to 1 Clinton Street in Brooklyn Heights. The new development currently has 51 units on market, of which 11 are active (avg asking: $3.86MM) and 40 are in contract ($2.42MM). For this week’s sponsors, average asking is up 39% on the week, and PPSF is up 17%. Both co-ops new to market this week are at 27 Prospect Park West in Park Slope: #7AB ($2.6MM) and #7A ($2.25MM). Compared with last week’s coops, these are on average 14% lower on a gross basis, and 11% lower on a PPSF basis.
33
Listings
$3,775,273
Average Asking Price
$3,395,000
Median Asking Price
$1,351
Average PPSF
$124,584,000 Total Volume
September 21 – 27, 2020 New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
17
–
Average Asking Price
$3,921,882
–
Median Asking Price
$3,095,000
–
$1,176
–
Total Volume
$66,672,000
– –
CONDOS
Resale
Sponsor
5
9
Average Asking Price
$2,909,800
$4,279,222
Median Asking Price
$2,625,000
$3,874,000
$1,163
$1,847
$14,549,000
$38,513,000
Resale
Sponsor
2
–
Average Asking Price
$2,425,000
–
Median Asking Price
$2,425,000
–
$1,082
–
$4,850,000
–
Listings
Average PPSF
Listings
Average PPSF Total Volume
CO-OPS Listings
Average PPSF Total Volume
September 21 – 27, 2020 All Properties Listed at $2.25MM and Above
IN CONTRACT Only three properties entered contract this week at $2.25MM and above, all of which are again townhouse resales. Two of the properties went into contract in Park Slope, and one in Boerum Hill. Compared with last week’s cohort, this week’s average asking price is down 21% to $2.93MM. However, on a price per square foot basis, these properties are up 14% at $1,175PSF. Average days on market is 38 days. Of these townhouse resales, top asking price of $4.795MM belongs to the 5-bedroom, single-family home at 378 5th Street in Park Slope, which entered contract after 11 days on market. Next, the two-family home at 396 State Street in Boerum Hill entered contract at $2.95MM after 96 days on market. Lastly, the 4-bedroom, gut renovated single-family home at 440 10th Street in Park Slope had contracts signed at $2.35MM after just 5 days. More information on these deals is shown on page 6 of this report.
3
Deals
$2,933,333
Average Asking Price
$2,950,000
Median Asking Price
$1,175
Average PPSF
0.00%
Average Discount
38
Average Days On Market
$8,800,000 Total Volume
September 21 – 27, 2020 In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
3
–
Average Asking Price
$2,933,333
–
Median Asking Price
$2,950,000
–
$1,175
–
$8,800,000
–
38
–
Resale
Sponsor
Deals
–
–
Average Asking Price
–
–
Median Asking Price
–
–
Average PPSF
–
–
Total Volume
–
–
Average Days on Market
–
–
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
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
47 Sidney Place
161 Warren Street
1 Clinton Street, #28C
BROOKLYN HEIGHTS
COBBLE HILL
COBBLE HILL
Townhouse
Townhouse
Condominium
4bd,4.5ba – 6,172 sq ft
5bd,4ba – 4,800 sq ft
3bd,2.5ba – 3,187 sq ft
$10,995,000 / $1,781 psf
$6,495,000 / $1,353 psf
$6,400,000 / $2,008 psf
I n Contract Properties Listed at $2.25MM and Above
378 5th Street
396 State Street
440 10th Street
PARK SLOPE
BOERUM HILL
PARK SLOPE
Townhouse
Townhouse
Townhouse
5bd,4ba – 3,000 sq ft
4bd,3ba – 2,800 sq ft
4bd,3.5ba – 1,800 sq ft
$3,500,000 / $1,167 psf
$2,950,000 / $1,053 psf
$2,350,000 / $1,305 psf