WEEKLY REPORT July 6 – 12, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT July 6 - 12, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 36 new properties priced above $2.25MM put on the market this week, a continued rise in inventory from previous weeks. While average asking price is down 23% week-over-week at $3.17MM, the downward pressure is from the sponsor side of the condo market. Average price per square foot (PPSF) is $1,335, which is a 13% decrease from last week's average PPSF. Total volume is $114.21MM. Of the 13 townhouse resales, top asking price of $4.95MM belongs to the 6-bedroom, 7-bathroom twofamily home at 396 15th Street in Park Slope. Average asking is down 7% compared with last week. Furthermore, PPSF is down 15% at $1,019PSF. On the condo side of the market, top asking price of $5.40MM belongs to the 3-bedroom, 3.5-bathroom penthouse unit at 60 Broadway (also known as The Gretsch) in Williamsburg. Average asking price and PPSF for these condo resales are both level with last week, where PPSF is up 2% at $1,575PSF.
36
Listings
$3,172,611
Average Asking Price
$2,995,000
Median Asking Price
$1,335
Average PPSF
$114,214,000 Total Volume
Top asking price of the 7 sponsor units belongs to the 3-bedroom penthouse unit at 561 Pacific Street, #PH1201 in Boerum Hill. Compared with last week's sponsor units, average asking price is 41% lower and PPSF is 16% below last week at $1,503PSF. Lastly, there were 2 co-ops new to market in Brooklyn Heights: 161 Henry Street, #5C and 2 Grace Court, #2Y3Y. 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 & 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 6 - 12, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
13
–
Average Asking Price
$3,577,692
–
Median Asking Price
$3,550,000
–
$1,019
–
Total Volume
$46,510,000
–
CONDOS
Resale
Sponsor
13
7
Average Asking Price
$3,074,923
$2,868,571
Median Asking Price
$2,850,000
$2,650,000
$1,575
$1,503
$39,974,000
$20,080,000
Resale
Sponsor
2
–
Average Asking Price
$2,700,000
–
Median Asking Price
$2,700,000
–
$1,425
–
$5,400,000
–
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 6 - 12, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Five deals listed above $2.25MM went into contract this week: two townhouse resales, two condo resales, and one co-op. Compared with last week, this week's average asking price is up by 37%. Additionally, average PPSF is up by 23% to $1,248PSF. Average days on market is 122 days.
5
Deals
$3,253,000
Average Asking Price
$2,700,000
Looking at townhouse resales, the 6-bedroom, 4.5bathroom home at 356 Sackett Street in Carroll Gardens entered contract with the top asking price of $5.30MM after 50 days on market. In BedfordStuyvesant, the $2.595MM two-family at 154 Clifton Place entered contract in 297 days. For these deals, average asking price is up 75% compared with last week at $3.95MM, however, PPSF is only up 3% at $978PSF.
Median Asking Price
Of the two condo resales, top asking price of $2.70MM belongs to 77 Douglass Street, #1 in Boerum Hill. Average sales price increased by 13% week-over-week. More notably, this week's PPSF is at $1,348. Between the two resales, average days on market is 19 days.
Average Discount
The 3-bedroom, 3-bathroom co-op at 160 Columbia Heights, #8A entered contract with a last ask of $3.175MM after 226 days on market. More information on these deals is shown on page 6 of this report. @E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com
$1,248
Average PPSF
-3.58% 122
Average Days On Market
$16,265,000 Total Volume
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 6 - 12, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
2
–
Average Asking Price
$3,947,500
–
Median Asking Price
$3,947,500
–
$978
–
$7,895,000
–
172
–
Resale
Sponsor
2
–
Average Asking Price
$2,597,500
–
Median Asking Price
$2,597,500
–
$1,348
–
$2,597,500
–
19
–
Resale
Sponsor
1
–
Average Asking Price
$3,175,000
–
Median Asking Price
$3,175,000
–
N/A
–
$3,175,000
–
226
–
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 July 6 – 12, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
60 Broadway, #PH1A
396 15 t h Street
442 Union Street
WILLIAMSBURG
PARK SLOPE
Carroll Gardens
Condominium
Townhouse
Townhouse
3bd,3.5ba – 2,462 sq ft
6bd,7ba – 5,000 sq ft
5bd,6ba – 4,320 sq ft
$5,4000,000 / $2,193 psf
$4,950,000 / $990 psf
$4,395,000 / $1,017 psf
I n Contract Properties Listed at $2.25MM and Above
356 Sackett Street
160 Columbia Heights, #8A
77 Douglass Street, #1
CARROLL GARDENS
BROOKLYN HEIGHTS
BOERUM HILL
Townhouse
Co-Op
Condominium
6bd,4.5ba – 4,548 sq ft
3bd,3ba – N/A
3bd,2.5ba – 2,431 sq ft
$5,300,000 / $1,165 psf
$3,175,000 / N/A
$2,700,000 / $1,110 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 6 – 12, 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.