WEEKLY REPORT July 13 – 19, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 13 - 19, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 21 new properties priced above $2.25MM put on the market this week. While there is less new inventory this week, average asking price is 18% above last week’s, returning to previous levels at $3.76MM. In addition, PPSF appears to be stabilizing at $1,284, which is a 4% decrease week-over-week. Total volume is $78.91MM. Of the 11 townhouse resales, top asking price of $5.10MM belongs to the two-family home at 556 3rd Street in Park Slope. Average asking for these resales is up 6% from last week. PPSF is up marginally compared with last week at $1,023PSF. For condos, top asking price of $7.25MM belongs to a resale penthouse unit at 429 Kent Avenue (also known as Oosten) in Williamsburg. Average asking for these condo resales is up 29% from last week, at $3.97MM.
21
Listings
$3,757,500
Average Asking Price
$3,395,000
Median Asking Price
$1,284
Average PPSF
$78,907,500 Total Volume
Four sponsor units are new to market this week. In Carroll Gardens, 50 1st Place, a five-unit brownstone turned boutique condominium building, listed its garden unit for $2.75MM. Average asking and PPSF are both up this week, by 18% and 4% respectively. The co-op at 160 Henry Street, #9C in Brooklyn Heights is listed for $3.995MM. Comparing with last week’s two co-ops in the neighborhood, this week's co-op is listed for 7% lower on a price per square foot basis. 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 13 - 19, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
11
–
Average Asking Price
$3,777,500
–
Median Asking Price
$3,990,000
–
$1,023
–
Total Volume
$41,552,500
– –
CONDOS
Resale
Sponsor
5
4
Average Asking Price
$3,968,000
$3,380,000
Median Asking Price
$3,395,000
$3,025,000
$1,625
$1,563
$19,840,000
$13,520,000
Resale
Sponsor
1
–
Average Asking Price
$3,995,000
–
Median Asking Price
$3,995,000
–
$1,332
–
$3,995,000
–
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 July 13 - 19, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Seven deals listed above $2.25MM went into contract this week: three townhouse resales, three condominium resales, and one condominium sponsor unit. Compared with last week, this week's average asking price is down by 22%. However, average PPSF is up by 11% to $1,379PSF. Average days on market is 87 days. Looking at townhouse resales, the 4-bedroom, 3bathroom two-family home at 526 11th Street in Park Slope entered contract with the top asking price of $2.75MM after 36 days on market. In Bed-Stuy, the $2.499MM home at 366 Greene Avenue had contracts signed after 159 days. For these deals, average asking price is significantly down from last week by 36% to $2.53MM. However, PPSF is up by 22% week-over-week, at $1,189PSF. Of the three condo resales, top asking price of $2.899MM belongs to the 2-bedroom, 2-bathroom home at 1 John Street, #5C in DUMBO. While average asking price is marginally down on the week, PPSF is strongly increasing at $1,587PSF. Average days on market is 114 days. The sponsor penthouse unit at 8 Saint Marks Place in Boerum Hill had contracts signed with a last ask of $2.495MM after 10 days on market. More information on these deals is shown on page 6 of this report.
7
Deals
$2,545,429
Average Asking Price
$2,499,000
Median Asking Price
$1,379
Average PPSF
1.25%
Average Discount
87
Average Days On Market
$17,818,000 Total Volume
@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Vรถlkers 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 13 - 19, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
3
–
Average Asking Price
$2,533,000
–
Median Asking Price
$2,499,000
–
$1,189
–
$7,599,000
–
85
–
Resale
Sponsor
3
1
Average Asking Price
$2,574,667
$2,495,000
Median Asking Price
$2,575,000
$2,495,000
$1,587
$1,331
$2,574,667
$2,495,000
114
10
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 Deals
Average PPSF Total Volume Average Days on Market
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 13 – 19, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
429 Kent Ave, #PH3
556 3rd Street
215 Clermont Avenue
WILLIAMSBURG
PARK SLOPE
FORT GREENE
Condominium
Townhouse
Townhouse
5bd,6.5ba – 5,091 sq ft
5bd,4.5ba – 4,300 sq ft
6bd,5ba – 5,000 sq ft
$7,250,000 / $1,424 psf
$5,100,000 / $1,186 psf
$4,995,000 / $999 psf
I n Contract Properties Listed at $2.25MM and Above
1 John Street, #5C
526 11th Street
72 Poplar Street, #2B
DUMBO
PARK SLOPE
BROOKLYN HEIGHTS
Condominium
Townhouse
Condominium
2bd,2ba – 1,492 sq ft
4bd,3ba – 2,442 sq ft
3bd,3ba – 1,598 sq ft
$2,899,000 / $1,943 psf
$2,750,000 / $1,126 psf
$2,575,000 / $1,611 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 13 – 19, 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.