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State of the Brownstone Brooklyn Luxury Market by Engel & Völkers Brownstone Brooklyn
February 18, 2021
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The Luxury Market Drag image to placeholder and resize
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Our luxury market is defined as townhouses and condominiums priced at $2.25MM and above, located in these 16 Brooklyn neighborhoods: Brooklyn Heights, Carroll Gardens, Cobble Hill, CSWD, Boerum Hill, DUMBO, Gowanus, Fort Greene, Clinton Hill, Prospect Heights, Park Slope, Bed-Stuy East, Bed-Stuy West, Downtown Brooklyn, Greenpoint, Williamsburg. 2|
1- to 4-Family Townhouses vs Condominiums Closed Sales - Gross Dollar Amount
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.
The Luxury Market
Townhouse supply generally more stable than that of luxury condominium product. However, demand for both trending upward at the close of 2020.
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1- to 4-Family Townhouses vs Condominiums Closed Sales - Total Number of Deals
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.
The Luxury Market
Seasonality of townhouse trades more regular than condominiums sales.
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New Development vs Resale Condominiums Closed Sales - Gross Dollar Amounts
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.
The Luxury Market
Demand for new condo development product lagging existing condo product, but we are about to see a new wave of closings in the coming quarters.
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New Development vs Resale Condominiums Closed Sales - Total Number of Deals
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.
The Luxury Market
Demand for both resales and new development product trending down since 3rd quarter 2017.
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Total Number of All Listings - Townhouses & Condominiums New to Market vs In Contract - Trailing 4-Week Average
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.
The Luxury Market
Post-lockdown pent up luxury New to Market listings trending down through the end of the year, and into early 2021, while In Contract deals trend upward over same period.
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Total Number of Townhouse Listings New to Market vs In Contract - Trailing 4-Week Average
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.
The Luxury Market
Luxury townhouse New to Market listings entering Contract at a rate of 64%, outpacing other property types.
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Total Number of New Development Condominium Listings New to Market vs In Contract - Trailing 4-Week Average
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.
The Luxury Market
104 New to Market listings introduced to the market since June 2020, with 48, or 46%, going into Contract.
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Total Number of Resale Condominium Listings New to Market vs In Contract - Trailing 4-Week Average
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.
The Luxury Market
130 New to Market listings introduced to the market since June 2020, with 51, or 39%, going into Contract.
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E&V Drag image to placeholder and resize
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OUR PLATFORM
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Who We Are
With over 40 years of experience in the industry, Engel & Völkers is one of the world’s most recognized and respected real estate brands. We offer
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A truly connected global network, with linked offices in prime locations from Dubai to Barcelona to New York
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Singular access to an elite client base through associated lifestyle businesses and proprietary marketing channels
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A proven process for delivering results through diligence and strategy
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A deep understanding of residential and commercial real estate, including luxury and resort markets
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A strong knowledge of new development with a proven track record
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Our Global Network An established global reputation, continuously expanding, especially in North America
North America Advisor & Shop Growth 2014 - Q2 2018
200
185 3,500
161
3,483
160
3,000
143 2,587
2,500
3,158 140 120
111 2,000
2,010
100
86
> 895 Locations
> 30 Countries
> 12,000 Professionals
>4 Divisions
1,500
1,000
500
We offer local
We operate in over
More than 12,000
Residential and
market expertise in
30 countries
people operate
Commercial Real
more than 800
spanning five
under the Engel &
Estate, Yachting and
locations.
continents.
Völkers brand.
Aviation.
80
1,517
60
64 40
765
20 0
0 2014
2015
Advisors
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180
2016
2017
2018
Q2 2019
Shops
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Our Domestic Network Brooklyn, NY - North America Feeder Markets
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3 Countries
210 Locations
3,000 Advisors
Our shops are located throughout North America United States, Mexico and Canada
We have local market expertise at more than 210 locations in North America.
Our network is uniquely connected and collaborative
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Our Exclusive Outreach Supplementing the marketing channels available through most firms, we offer one-of-a-kind opportunities for connecting your project with qualified buyers:
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Shop Network: Property shops in prime retail locations from Via Regina to Park Avenue
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GG Magazine: Global lifestyle and real estate magazine published in six languages
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The Edge™: Digital distribution program to Engel & Völkers websites and more, collectively reaching over 300 million users.
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Private Office: an exclusive service for the sale and lease of exceptional properties, yachts and aircraft
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Our Exclusive Outreach
Shop Network With our first location still featured in the Engel & Völkers logo, our iconic shop network is one of our brand’s foundations.
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Over 800 locations in prime neighborhoods from Miami to St. Moritz
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Distinctive design attracts customers in high-traffic retail and resort areas
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Window displays highlight our exclusive listings 24/7
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ShopTV monitors showcase a broad selection of properties and locations
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Our Exclusive Outreach
Engel & Völkers Brownstone Brooklyn Three high profile shop locations.
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DUMBO - 45 Main Street, Suite 1022 (10th Floor) : Foot traffic: entrepreneurs, HENRYs
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Cobble Hill - 221A Court Street: Foot traffic: 275 pedestrians per hour (weekdays) 525 pedestrians per hour (weekends)
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Prospect Heights - 663 Vanderbilt Avenue: Foot traffic: 120 pedestrians per hour (weekdays) 225 pedestrians per hour (weekends)
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Our Exclusive Outreach
EDGE Exclusive. Domestic. Global. Exposure. Worldwide access to countless potential buyers ■
Zillow Group: 160 million visitors/month
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Realtor.com: 53 million visitors/month
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List Globally: 175.25 million visitors/month
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List Hub: 300 million visitors/month
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engelvoelkers.com: 2.9 million visitors/month
Premium exposure ■
Wall Street Journal: 45.2 million visitors/month
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Mansion Global: 2.3 million visitors/month
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Bloomberg.com: 72 millions visitors/month
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James Edition: 1.1 million visitors/month
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Juwai/Juwai.asia:- 4.1 million visitors/month
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FT.com: 13 millions visitors/month
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Our Exclusive Outreach
A Collaborative Global Brand
E&V Shop TV ■
Eye-catching placement in the Americas shops
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Increased marketing and referral opportunities
Cross selling ■
Property exposé in shop windows around the globe
E&V Events ■
Your property marketed at local events
Social Media ■
Social media exposure in feeder markets via our network partners
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Our Exclusive Outreach
Exclusive Offerings
Premium exposé ■
Editorial design, high-end printing and targeted distribution
GG Magazine ■
Engel & Völkers’ luxury lifestyle and property magazine
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Circulation of 300,000+ global real estate professionals and premier clients
Exclusive digital exposure ■
Listing featured in James Edition and Mansion Global
Media coverage ■
Award-winning multi-national media coverage
Social media amplification ■
Feature on Americas and global social media channels reaching referral network and luxury real estate enthusiasts
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Engel & Völkers Brownstone Brooklyn - Leadership For more than 25 years, Donald has been working with sellers, buyers, and developers in Brooklyn, NY. In the past few years alone, he has been involved with over $150,000,000 of luxury residential real estate, from new ground-up construction projects to historical redevelopment, rehabilitations and resales. His extensive experience working with every level of stakeholder, as well as personally undertaking numerous townhouse gut rehabilitation projects, allows him to streamline the sales process for both his seller and buyer clients. Known Donald P. Brennan, Jr. for meticulous attention to detail, unparalleled local expertise, and a keen eye for marketing opportunities and property potential, Donald has historically met, and more typically exceeded, his clients’ expectations. . License Partner Real Estate Broker Global Advisor Highlights
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Over $2.5B of managed, developed, owned and sold residential real estate to date
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Luxury and Complex Transaction Expert
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Licensed Real Estate Broker and REBNY Member
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MBA in Finance, NYU Stern School of Business
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Master of Architecture, Taubman College, University of Michigan 21
The Luxury Team
Donald P. Brennan, Jr. License Partner | Real Estate Broker | Global Advisor Cell/Text: 917-568-6525 Email: donald.brennan@evrealestate.com
Katriona Kearney Associate Real Estate Broker | Global Advisor Cell/Text: 917-680-3670 Email: katriona.kearney@evrealestate.com
Engel & Völkers Brownstone Brooklyn 221A Court Street Brooklyn, NY 11201 Phone: 718-643-6312 brownstonebrooklyn.evrealestate.com
Peyton Yen Real Estate Salesperson | Global Advisor Cell/Text: 917-225-8374 Email: peyton.yen@evrealestate.com
Joseph Boivin Real Estate Salesperson | Global Advisor Cell/Text: 561-906-9809 Email: joseph.boivin@evrealestate.com
Each brokerage independently owned and operated
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Thank You! We hope to work with you soon! If there’s anything we can do to provide you with additional insights in the meantime, please don’t hesitate to ask.
Donald P. Brennan, Jr. License Partner Real Estate Broker Global Advisor Engel & Völkers Brownstone Brooklyn donald.brennan@evrealestate.com Mobile +1 917-568-6525 donaldbrennan.evrealestate.com |
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