WEEKLY REPORT August 10 – 16, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT August 10 – 16, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 15 new properties priced above $2.25MM put on the market this week. While average asking price is 3% above the prior week’s, median asking is 11% lower. In addition, PPSF is $1,215, which is a 13% decrease week-over-week and 5% decrease month-over-month. Total volume is $51.46MM.
15
Listings
$3,430,600
Average Asking Price
$2,795,000
Of the 11 townhouse resales, top asking price of $5.80MM belongs to the two-family home at 277 Greene Avenue in Clinton Hill. The property is also listed as two rental units available for $15,000 and $4,500 per month. Average asking for these resales is up 8% from last week. PPSF is down by 2% on the week, but up by 7% on the month at $1,097PSF.
Median Asking Price
For the two condo resales, top asking price of $2.699MM belongs to the two-bedroom home at 2 Northside Pier, #30P in Williamsburg. Compared with last week, these two in Williamsburg are asking for 10% less on a price per square foot basis at $1,583PSF.
$51,459,000
$1,215
Average PPSF
Total Volume
The two sponsor units new to market this week are also in Williamsburg. Top asking price of $3.05MM belongs to the penthouse unit at 76 North 6th Street. Average PPSF is $1,498, which is 15% below last week’s levels but only 4% below last month’s. 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 August 10 – 16, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
11
–
Average Asking Price
$3,701,364
–
Median Asking Price
$3,250,000
–
$1,097
–
Total Volume
$40,715,000
– –
CONDOS
Resale
Sponsor
2
2
Average Asking Price
$2,549,500
$2,822,500
Median Asking Price
$2,549,500
$2,822,500
$1,583
$1,498
$5,099,000
$5,645,000
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 August 10 – 16, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Only four deals listed above $2.25MM went into contract this week. Compared with last week, this week's average asking price is down 20%. However, compared with last month, it is up 9%. Average PPSF is up by 7% over the prior week, and more notably, by 17% over the prior month. Average days on market is 87 days. Looking at the sole townhouse resale, the 5-bedroom, 3.5-bathroom two-family home at 446A Classon Avenue in Clinton Hill entered contract at $2.75MM after 27 days on market. The PPSF of $1,023 is 14% below levels from the prior week. Of the two condo resales, top asking price of $2.75MM belongs to the 3-bedroom penthouse unit at 440 Atlantic Avenue, #PH2 in Boerum Hill. The 1,687 square foot condo entered contract after a price drop of 6.78% and 46 days on market. Average asking price for these resales is down by 22% week-overweek, but up by 5% month-over-month. PPSF is down on both periods by 6% and 3%, respectively, to $1,544PSF. Average days on market is 41 days. The sole sponsor unit under contract this week is a 3bedroom penthouse unit at 98 Front Street, #PH3E in DUMBO. The property spent 235 days on market before entering contract with a last ask of $2.95MM. On a price per square foot basis, this unit is asking for 75% above levels sponsor units were trading at the prior month. More information on these deals is shown on page 6 of this report.
4
Deals
$2,775,000
Average Asking Price
$2,750,000
Median Asking Price
$1,608
Average PPSF
-1.70%
Average Discount
87
Average Days On Market
$11,100,000 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 August 10 – 16, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
1
–
Average Asking Price
$2,750,000
–
Median Asking Price
$2,750,000
–
$1,023
–
$2,750,000
–
30
–
Resale
Sponsor
2
1
Average Asking Price
$2,700,000
$2,950,000
Median Asking Price
$2,700,000
$2,950,000
$1,544
$2,323
$2,700,000
$2,950,000
41
235
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 August 10 – 16, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
277 Greene Avenue
58 Tompkins Place
76 North 6 t h Street, #PH
CLINTON HILL
COBBLE HILL
WILLIAMSBURG
Townhouse
Townhouse
Condominium
6bd,6.5ba – 5,850 sq ft
4bd,3ba – 2,295 sq ft
3bd,3ba – 1,896 sq ft
$5,800,000 / $991 psf
$5,300,000 / $2,309 psf
$3,050,000 / $1,609 psf
I n Contract Properties Listed at $2.25MM and Above
98 Front Street, #PH3E
446A Classon Avenue
440 Atlantic Avenue, #PH2
DUMBO
CLINTON HILL
BOERUM HILL
Condominium
Townhouse
Condominium
3bd,2ba – 1,270 sq ft
5bd,3.5ba – 2,688 sq ft
3bd,2ba – 1,708 sq ft
$2,950,000 / $2,323 psf
$2,750,000 / $1,023 psf
$2,750,000 / $1,610 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 August 10 – 16, 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.