WEEKLY REPORT June 29 – July 5, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT June 29 – July 5, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 34 new properties priced above $2.25MM put on the market this week. Average asking price is 10% above last week’s average asking, at $4.12MM. However, median asking is level on the week at $3.545MM. Average price per square foot (PPSF) is $1,540, which is a 14% increase from last week's average PPSF. Total volume is $139.975MM. Of the 11 townhouse resales, top asking price of $8MM belongs to our exclusive listing at 32 1st Place in Carroll Gardens, which boasts 6 bedrooms, 4.5 bathrooms, and over 2,000 square feet of private outdoor space. Average asking price for these resales is level with last week, while PPSF is up slightly by 2% this week at $1,202PSF. On the condo resale side of the market, top asking price of $4.60MM belongs to 77 Orange Street in Brooklyn Heights. In the same neighborhood, our exclusive listing, the penthouse unit at 24 Remsen Street, is asking $4.05MM. Average asking price for these condo resales is down 13% from last week. Furthermore, PPSF is down by 2% at $1,545PSF.
34
Listings
$4,116,912
Average Asking Price
$3,545,000
Median Asking Price
$1,540
Average PPSF
$139,975,000 Total Volume
Fifteen sponsor units were put on the market this week: one unit at 314 Degraw Street, #1 in Carroll Gardens and the rest from 50 Bridge Park Drive (also known as Quay Tower) in Brooklyn Heights. Compared with last week's sole sponsor at Twine on Park, this week's average asking is 40% higher but PPSF is 2% lower at $1,785PSF. 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 June 29 – July 5, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
11
–
Average Asking Price
$3,845,455
–
Median Asking Price
$3,495,000
–
$1,202
–
Total Volume
$42,300,000
–
CONDOS
Resale
Sponsor
8
15
Average Asking Price
$3,048,125
$4,886,000
Median Asking Price
$2,800,000
$4,450,000
$1,545
$1,785
$24,385,000
$73,290,000
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 June 29 – July 5, 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, one condominium resale, one sponsor unit, and one co-op. Compared with last week, this week's average asking price is down by 7%. Additionally, average PPSF is down by 4% to $1,011PSF. Average days on market is 70 days. Looking at townhouse resales, the two-family home at 321 Stuyvesant Avenue in Bedford-Stuyvesant entered contract with a last ask of $2.25MM after just 17 days on market. For these resales, while average asking price is 14% lower than last week's, PPSF is up by 11% at $1,004PSF. For the condominium market, the resale at 70 Washington Street, #2G in DUMBO entered contract at $2.299MM, which is a 7.86% discount from its original ask. In Fort Greene, the sponsor unit at 394 Vanderbilt Avenue, #2 entered contract with a last ask of $2.595MM after 22 days on market. Compared with last week's sponsor unit in Greenpoint, this asking price is higher by 8% and PPSF by 3%. The 3-bedroom, 3-bathroom co-op at 150 Joralemon Street, #12EF entered contract with a last ask of $2.50MM after 155 days on market. More information on these deals is shown on page 6 of this report.
5
Deals
$2,378,800
Average Asking Price
$2,299,000
Median Asking Price
$1,011
Average PPSF
-3.39%
Average Discount
70
Average Days On Market
$11,894,000 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 June 29 – July 5, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
2
–
Average Asking Price
$2,250,000
–
Median Asking Price
$2,250,000
–
$1,004
–
$4,500,000
–
10
–
Resale
Sponsor
1
1
Average Asking Price
$2,299,000
$2,595,000
Median Asking Price
$2,299,000
$2,595,000
$668
$1,380
$2,299,000
$2,595,000
155
22
Resale
Sponsor
1
–
Average Asking Price
$2,500,000
–
Median Asking Price
$2,500,000
–
$1,000
–
$2,500,000
–
155
–
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 June 29 – July 5, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
50 Bridge Park Dr, #19AB
32 1 s t Place
24 Remsen Street, #PH
BROOKLYN HEIGHTS
CARROLL GARDENS
BROOKLYN HEIGHTS
Condo
Townhouse
Condo
5bd,5.5ba – 4,496 sq ft
6bd,4.5ba – 6,075 sq ft
4bd,3.5ba – 2,414 sq ft
$9,045,000 / $2,011 psf
$8,000,000 / $1,317 psf
$4,050,000 / $1,677 psf
I n Contract Properties Listed at $2.25MM and Above
394 Vanderbilt Ave, #2
150 Joralemon St, #12EF
321 Stuyvesant Avenue
FORT GREENE
BROOKLYN HEIGHTS
BEDFORD-STUYVESANT
Condo
Co-Op
Townhouse
3bd,2.5ba –1,881 sq ft
3bd,3ba – 2,500 sq ft
4bd,3ba – 2,633 sq ft
$2,595,000 / $1,379 psf
$2,500,000 / $1,000 psf
$2,250,000 / $854 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 June 29 – July 5, 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.