Engel & Völkers Brownstone Brooklyn Weekly Luxury Market Report : May 18 - 24, 2020

WEEKLY REPORT May 18 – 24, 2020

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT May 18 – 24, 2020

All Properties Listed at $2.25MM and Above

NEW TO MARKET This week there were 10 new properties priced above $2.25MM put on the market. Average asking price is up 14% from last week, at $3.37MM. Median asking is

10 Listings

$3,372,500 Average Asking Price

down 14% week-over-week, at $2.57MM. Average price per square foot (PPSF) is $1,270, which is 17% down from last week's average PPSF. Total volume is $33.73MM.

$2,570,000 Median Asking Price

The new listings notably include two condominiums at 90 Furman Street, which is located at the Brooklyn Heights waterfront, one condominium in Park Slope at 505 2nd Street #2, and two townhouses, 314 Clermont

$1,270 Average PPSF

Avenue in Fort Greene and 875 Pacific Street in Prospect Heights. Top asking price is $7.15MM for 90 Furman Street N-1010 ($2,241PSF).

$33,725,000 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 May 18 – 24, 2020

All Properties Listed at $2.25MM and Above

IN CONTRACT Three deals above $2.25MM went into contract this

3 Deals

week: 84 Putnam Avenue in Bed-Stuy, 108 India

$2,547,000

Street, Garden Unit in Greenpoint, and 308 N 7th

Average Asking Price

Street, #PHB in Williamsburg. Average asking price is up 2% from last week, at $2.55MM. Median asking is marginally up by 0.10% to $2.5MM. Average PPSF is $1,217, down from last week by 0.81%. There were no

$2,500,000 Median Asking Price

price adjustments again. Total volume amounts to $7.64MM, which is up 171.74% from last week's volume.

Of the three deals, 84 Putnam Avenue is a townhouse

$1,217 Average PPSF

resale. Its price is 6% above average asking price from last week's resales, however on a square foot basis, it is 13% below.

0.00% Average Discount

308 N 7th Street, #PHB has been on the market for 599 days (a significant amount of time), finally entering contract on 5/21/20. The other listings under contract have been on the market for an average of 75 days.

250 Average Days on Market

$7,641,000 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 May 18 – 24, 2020

In Contract Properties Listed at $2.25MM And Above

TOWNHOUSES

Resale

Sponsor

1

—

Average Asking Price

$2,645,000

—

Median Asking Price

$2,645,000

—

$924

—

0.00%

—

$2,645,000

—

76

—

Resale

Sponsor

Deals

—

2

Average Asking Price

—

$2,498,000

Median Asking Price

—

$2,498,000

Average PPSF

—

$1,363

Average Discount

—

0.00%

Total Volume

—

$4,996,000

Average Days on Market

—

337

Resale

Sponsor

Deals

—

—

Average Asking Price

—

—

Median Asking Price

—

—

Average PPSF

—

—

Average Discount

—

—

Total Volume

—

—

Deals

Average PPSF Average Discount 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 May 18 – 24, 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.