WEEKLY REPORT Aug 31 – Sep 6, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT Aug 31 – Sep 6, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 13 new properties priced above $2.25MM new to market this week, while up on the previous week, it is still less than half of availabilities from the previous month. Alongside decreasing new for-sale listings, average asking price is down 12% week-overweek to $3.21MM. Average PPSF is $1,106, which is pulled down by the townhouse resales asking for under $1,000PSF. Total volume is $41.78MM. Of the 8 townhouse resales, top asking price of $4.995MM belongs to the two-family Romanesque Revival home at 60 Montgomery Street in Park Slope. Average asking for these resales is down 26% from the prior week. By a lesser degree, PPSF is down 23% to $858. For the three condo resales, top asking price of $3.375MM belongs to a duplex at 90 Furman Street, #N202 (also known as Pierhouse). Over in Carroll Gardens, the 3-bedroom, penthouse duplex at 348 Sackett Street, #4B is listed at $2.395MM. Average asking for these properties is up 11% to $2.875MM, and PPSF by 5% to $1,722 this week.
13
Listings
$3,213,765
Average Asking Price
$2,855,000
Median Asking Price
$1,106
Average PPSF
$41,778,940 Total Volume
Both sponsor units this week are from 429 Kent Avenue (also known as Oosten) in Williamsburg. The top asking price of $4.99MM belongs to one of its penthouse units at #PH2. Between the two, the PPSF of the penthouse unit ($1,458PSF) is 64% higher than the level 5 unit ($886). A selection of these notable properties is available 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 Aug 31 – Sep 6, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
8
–
Average Asking Price
$3,148,125
–
Median Asking Price
$2,722,500
–
$858
–
Total Volume
$25,185,000
– –
CONDOS
Resale
Sponsor
3
2
Average Asking Price
$2,875,000
$3,984,470
Median Asking Price
$2,855,000
$3,984,470
$1,722
$1,173
$8,625,000
$7,968,940
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 Aug 31 – Sep 6, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Eight properties entered contract this week at $2.25MM and above, all of which are townhouse resales. This marks a 33% increase in activity from the previous week. Average asking price is at $3.8MM and median asking is $3.62MM, with gains of 32% and 28% respectively. Average PPSF is $1,041, which is 20% below levels from last week. Average days on market for these properties is 80 days. Of these eight properties, five are in Park Slope. The single-family home at 556 1st Street in Park Slope entered contract with the top asking price of $6MM after 46 days on market. The 4,830 square-foot property was first listed from the end of June to beginning of August before being temporarily offmarket. Its price per square foot of $1,242 is 19% above the average of the cohort. The second highest contract price belongs to 556 3rd Street, which entered contract after 51 days on market. Over in Gowanus, the five-bedroom, two-family home at 220 7th Street entered contract with a last ask of $2.795MM after 50 days on market. More information on these deals is shown on page 6 of this report.
8
Deals
$3,803,500
Average Asking Price
$3,622,000
Median Asking Price
$1,041
Average PPSF
-2.08%
Average Discount
80
Average Days On Market
$30,428,000 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 Aug 31 – Sep 6, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
8
–
Average Asking Price
$3,803,500
–
Median Asking Price
$3,622,000
–
$1,041
–
$30,428,000
–
80
–
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
@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 Aug 31 – Sep 6, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
429 Kent Avenue, #PH2
60 Montgomery Place
90 Furman Street, #N202
WILLIAMBURG
COBBLE HILL
BROOKLYN HEIGHTS
Condominium
Townhouse
Condominium
5bd,5.5ba – 3,428 sq ft
7bd,5ba – 5,874 sq ft
2bd,2.5ba – 1,975 sq ft
$4,999,990 / $1,459 psf
$4,995,000 / $850 psf
$3,375,000 / $1,709 psf
I n Contract Properties Listed at $2.25MM and Above
556 1st Street
556 3rd Street
159 6 t h Avenue
PARK SLOPE
PARK SLOPE
PARK SLOPE
Townhouse
Townhouse
Townhouse
5bd,3ba – 4,830 sq ft
5bd,4.5ba – 4,300 sq ft
8bd,4.5ba – 4,332 sq ft
$6,000,000 / $1,242 psf
$5,100,000 / $1,186 psf
$4,395,000 / $1,014 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 Aug 31 – Sep 6, 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.