WEEKLY REPORT June 8 – 14, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT June 8 - 14, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET This week there were 18 new properties priced above $2.25MM put on the market. Average asking price is 13% lower than last week’s average asking price, at $3.07MM. Furthermore, median asking is 19% lower week-over-week, at $2.79MM. Average price per square foot (PPSF) is $1,320, which is 6% down from last week's average PPSF. Total volume is $55.31MM. Of the townhouse resales, top asking price of $4.85MM belongs to the 5-bedroom, 4-bathroom single-family home at 29 Cambridge Place in Clinton Hill. In Boerum Hill, 418 State Street is both listed for sale at $4.299MM and for rent at $13,000/month. A similar tactic is used for the townhouse at 114 Monroe Street, where it is listed for sale at $3.995MM and its Garden Unit is available for rent at $3,500/month. The average asking for this week's townhouse resales is down 7% from last week.
18
Listings
$3,072,752
Average Asking Price
$2,787,500
Median Asking Price
$1,320
Average PPSF
$55,309,540 Total Volume
On the condominium side of the market, top asking price of $4.299MM belongs to a resale penthouse unit at 172 N 10th St, where it also is available for rent at $11,000/month. Four sponsor units were put on the market this week: two units at 394 Vanderbilt Avenue in Fort Greene, one unit at 161 12th Street in Gowanus, and one unit at One Willoughby Street #50C. The median asking price for these sponsor units is just 1% below last week's median asking. 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 & 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 8 - 14, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
7
–
Average Asking Price
$3,377,000
–
Median Asking Price
$2,995,000
–
$996
–
Total Volume
$23,639,000
–
CONDOS
Resale
Sponsor
7
4
Average Asking Price
$3,080,714
$2,526,385
Median Asking Price
$2,950,000
$2,545,000
$1,545
$1,492
$21,565,000
$10,105,540
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 8 - 14, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Six deals listed above $2.25MM went into contract this week: five townhouse resales and one condominium sponsor unit. While average asking price for all deals under contract is down 26% from last week's, median asking price is down by a lesser degree at 13%. Average PPSF is $1,084, which decreased 31% week-over-week. Average days on market is 240 days. Looking at townhouse resales, 362 Clermont Avenue in Fort Greene entered contract this week with the top asking price of $3.50MM, which is a 19.54% discount from its original price. Compared with the average days on market of 267 days for townhouse resales, the two-family townhouse at 154 Underhill Avenue in Prospect Heights entered contract in just 38 days. For these deals, average asking price is down 39% weekover-week, at $2.93MM. Average PPSF is $963, which is 38% higher than last week's. The 5-bedroom 3-bathroom sponsor unit at 561 Pacific Street, #506 in Boerum Hill entered contract this week after 105 days on the market with a last ask of $2.58MM. On a price per square foot basis, it is 30% higher than last week's sponsor units at $1,690PSF. More information on these deals is shown on page 6 of this report.
6
Deals
$2,878,333
Average Asking Price
$2,787,500
Median Asking Price
$1,084
Average PPSF
-3.80%
Average Discount
240
Average Days On Market
$17,270,000 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 June 8 - 14, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
5
–
Average Asking Price
$2,939,000
–
Median Asking Price
$3,000,000
–
$963
–
$14,695,000
–
267
–
Resale
Sponsor
Listings
–
1
Average Asking Price
–
$2,575,000
Median Asking Price
–
$2,575,000
Average PPSF
–
$1,690
Total Volume
–
$2,575,000
Average Days on Market
–
105
Resale
Sponsor
Listings
–
–
Average Asking Price
–
–
Median Asking Price
–
–
Average PPSF
–
–
Total Volume
–
–
Average Days on Market
–
–
Listings
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 June 8 – 14, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
29 Cambridge Place
418 State Street
172 N 10 t h Street, #PH5
CLINTON HILL
BOERUM HILL
WILLIAMSBURG
Townhouse
Townhouse
Condominium
5bd,4ba – 4,000 sq ft
4bd,3.5ba – 3,800 sq ft
3bd,3.5ba – 2,318 sq ft
$4,850,000 / $1,212 psf
$4,299,000 / $1,131 psf
$4,250,000 / $1,833 psf
I n Contract Properties Listed at $2.25MM and Above
362 Clermont Avenue
154 Underhill Avenue
516 Pacific Street, #506
FORT GREENE
PROSPECT HEIGHTS
BOERUM HILL
Townhouse
Townhouse
Condominium
3.5bd,3.5ba – 4,150 sq ft
7bd,3.5ba – 3,233 sq ft
3bd,2.5ba – 1,523 sq ft
$3,500,000 / $843 psf
$3,495,000 / $1,081 psf
$2,575,000 / $1,690 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 8 – 14, 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.