WEEKLY REPORT August 24 – 30, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT August 24 – 30, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET Ten properties priced above $2.25MM are new to market this week. Continuing with last week’s reported observations, it appears the weekly decline of new inventory (now by 23%) is perching up average sales price by 5% over the last week to $3.65MM. Average PPSF is hovering around $1,276, which is down from the previous week by 1% but up on the month by 5%. Total volume is $36.52MM. Of the 6 townhouse resales, top asking price of $10.495MM belongs to the single-family home at 15 Willow Street in Brooklyn Heights. A far second pricewise, the 7-bedroom home at 104 Graham Avenue in Williamsburg is listed at $4MM. For this week’s resales, while average asking price of $4.26MM is positively skewed by the top asking, median asking price is $3.05MM, which is 7% down from last week and 5% from last month. Average PPSF is $1,111.
10
Listings
$3,652,400
Average Asking Price
$2,649,500
Median Asking Price
$1,276
Average PPSF
$36,524,000 Total Volume
Looking at the 2 condo resales, top asking price of $2.799MM belongs to the 2-bedroom home at 1 John Street, #9C in DUMBO, which was last listed in May 2019 for $3.125MM. Over in Greenpoint, the 3bedroom duplex at 108 India Street, #2 is listed at $2.40MM, 6.67% above its last asking in January this year. On a price per square foot basis, these two resales are listed for 2% higher WoW and 27% MoM. One sponsor unit at 623 Leonard Street, #2 in Greenpoint is listed this week. Compared with last week’s sponsor unit in Carroll Gardens, this is asking for 32% more on a PPSF basis at $1,597PSF. For co-ops, the 3-bedroom home at 35 Prospect Park West, #14C in Park Slope is listed for $3.25MM. @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 August 24 – 30, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
6
–
Average Asking Price
$4,262,500
–
Median Asking Price
$3,050,000
–
$1,111
–
Total Volume
$25,575,000
– –
CONDOS
Resale
Sponsor
2
1
Average Asking Price
$2,599,500
$2,500,000
Median Asking Price
$2,599,500
$2,500,000
$1,638
$1,597
$5,199,000
$2,500,000
Resale
Sponsor
1
–
Average Asking Price
$3,250,000
–
Median Asking Price
$3,250,000
–
$1,226
–
$3,250,000
–
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 August 24 – 30, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Six properties entered contract this week at $2.25MM and above, less than half of the previous week. Median asking price is $2.82MM, a 2% increase from last week. Average PPSF is 5% above the previous week at $1,293, and more notably by 8% above the previous month. Although there are fewer properties entering contract this week, their average days on market is just over 2 months. A key feature among these properties is access to private outdoor space. The two-family home at 126 Hancock Street in BedStuy is the only townhouse resale to have contracts signed this week, with a last ask of $3.495MM and 63 days on market. Its PPSF is 20% lower than resales from the previous week at $831PSF. Of the two condo resales, top asking price of $3.295MM belongs to the 2.5-bedroom corner loft at 85 N Third Street, #505 in Williamsburg, listed already in contract. The 3-bedroom loft at 535 Dean Street, #809 entered contract with a last ask of $2.25MM after 67 days on market. Compared with last week, these are 13% less on a PPSF basis. Two sponsor units this week are both condo conversions. In Park Slope, 184 Lincoln Place, #1 entered contract at $2.895MM after 66 days on market. In Carroll Gardens, 145 Huntington Street, #1 entered contract at $2.75MM after 48 days. Average PPSF is $1,141, which is 32% below last week.
6
Deals
$2,872,500
Average Asking Price
$2,822,500
Median Asking Price
$1,293
Average PPSF
0.31%
Average Discount
66
Average Days On Market
$17,235,000 Total Volume
The 2-bedroom co-op at 8 Old Fulton Street, #1W had contracts signed at $2.55MM after 67 days on market from when it was first listed in January and removed in March. @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 August 24 – 30, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
1
–
Average Asking Price
$3,495,000
–
Median Asking Price
$3,495,000
–
$831
–
$3,495,000
–
63
–
Resale
Sponsor
2
2
Average Asking Price
$2,772,500
$2,822,500
Median Asking Price
$2,772,500
$2,822,500
$1,342
$1,141
$2,772,500
$5,645,000
36
58
Resale
Sponsor
1
–
Average Asking Price
$2,550,000
–
Median Asking Price
$2,550,000
–
$1,962
–
$2,550,000
–
67
–
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 August 24 – 30, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
15 Willow Street
35 Prospect Park West, #14C
1 John Street, #9C
BROOKLYN HEIGHTS
PARK SLOPE
DUMBO
Townhouse
Co-Op
Condominium
6bd,5ba – 6,200 sq ft
3bd,3ba – 2,650 sq ft
2bd,2ba – 1,489 sq ft
$10,495,000 / $1,693 psf
$3,250,000 / $1,226 psf
$2,799,000 / $1,880 psf
I n Contract Properties Listed at $2.25MM and Above
126 Hancock Street
85 North 3 r d Street, #505
184 Lincoln Place, #1
BED-STUY
WILLIAMSBURG
PARK SLOPE
Townhouse
Condominium
Condominium
8bd,4ba – 4,205 sq ft
2bd,2.5ba – 2,250 sq ft
3bd,2.5ba – 2,549 sq ft
$3,495,000 / $831 psf
$3,295,000 / $1,464 psf
$2,895,000 / $1,136 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 August 24 – 30, 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.