WEEKLY REPORT September 28 – October 4, 2020
September 28 – October 4, 2020 All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 19 properties priced above $2.25MM put on the market this week, a dip in new inventory from last week. Average asking price is down 16% weekover-week at $3.17MM. Similarly, average PPSF is down 13% at $1,181PSF. Total volume of new forsale properties is half of last week at $60.24MM.
19
Listings
$3,170,421
Average Asking Price
$2,800,000
Of the 11 townhouse resales, top asking price of $6.50MM belongs to the 8,580 sf two-family home at 198 Washington Park in Fort Greene. Over in Clinton Hill, the eco-conscious, four-family home at 112 Gates Avenue is listed for $5.495MM. Average asking price for this week’s resales is $3.45MM, or 12% down from last week. Median asking is again under $3MM. Average PPSF is $1,009, which is 14% below last week and 9% below last month.
Median Asking Price
There were 6 condo resales newly listed this week. Top asking price of $2.95MM belongs to the full-floor, 4-bedroom home at 20 Tiffany Place, #7N7S in Columbia St Waterfront District. Average asking price for this cohort is 6% below last week’s asking, but up 5% above last month’s. Average PPSF is up 11% on the week at $1,295PSF.
Total Volume
Only two sponsor units are new to market. In Greenpoint, the 3-bedroom home at 139 Huron Street, #THB is asking $3.4MM. In DUMBO, the 2bedroom home at 98 Front Street, #PH1E is asking $2.445MM. Compared with last week’s strong injection of sponsor units, these two are on average 3% lower on a price per square foot basis at $1,783PSF.
$1,181
Average PPSF
$60,238,000
September 28 – October 4, 2020 New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
11
–
Average Asking Price
$3,454,000
–
Median Asking Price
$2,899,000
–
$1,009
–
Total Volume
$37,994,000
– –
CONDOS
Resale
Sponsor
6
2
Average Asking Price
$2,733,167
$2,922,500
Median Asking Price
$2,775,000
$2,922,500
$1,295
$1,783
$16,399,000
$5,845,000
Resale
Sponsor
Listings
–
–
Average Asking Price
–
–
Median Asking Price
–
–
Average PPSF
–
–
Total Volume
–
–
Listings
Average PPSF
Listings
Average PPSF Total Volume
CO-OPS
September 28 – October 4, 2020 All Properties Listed at $2.25MM and Above
IN CONTRACT Eight properties entered contract this week at $2.25MM and above, a return to trends observed prior to last week’s low. Of this cohort, average asking price is up 2% this week to $2.99MM. Average PPSF is $1,248, which is up 6% on the week and down 4% on the month. Average discount offered is 2.84%. Average days on market is 84 days, which is negatively skewed by a property listed already in contract. Of the four townhouse resales, top asking price of $4.20MM belongs to the two-family home at 200 Washington Park in Fort Greene, which entered contract after 99 days on market and an 8.7% discount on ask. Next, the two-family home at 219 Jefferson Avenue in Bed-Stuy entered contract at $3.195MM after 97 days on market. Average asking price for these resales is up 5% on the week at $3.07MM. Average PPSF is $907. Three condo resales entered contract this week from Prospect Heights, Brooklyn Heights, and Greenpoint. The 3-bedroom home at 280 Saint Mark’s Avenue, #3H is in contract at $2.895MM ($1,524PSF) after 104 days on market and a 3.3% price adjustment in June. The 2-bedroom home at 4 Water Street, #3B entered contract with a last ask of $2.495MM after 103 days on market. Average PPSF for these three properties is $1,545PSF. Only one sponsor unit entered contract this week. The 4-bedroom penthouse unit at 76 Schermerhorn Street, #PH1 (also known as The Symon) in Downtown Brooklyn was listed already in contract this week at $3.995MM ($1,718PSF).
8
Deals
$2,990,500
Average Asking Price
$2,695,000
Median Asking Price
$1,248
Average PPSF
-2.84%
Average Discount
84
Average Days On Market
$23,924,000 Total Volume
September 28 – October 4, 2020 In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
4
–
Average Asking Price
$3,072,250
–
Median Asking Price
$2,845,000
–
$907
–
$12,289,000
–
100
–
Resale
Sponsor
3
1
Average Asking Price
$2,546,667
$3,995,000
Median Asking Price
$2,495,000
$3,995,000
$1,545
$1,718
$2,546,667
$3,995,000
90
1
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
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
198 Washington Park
112 Gates Avenue
139 Huron Street, #THB
FORT GREENE
COBBLE HILL
GREENPOINT
Townhouse
Townhouse
Condominium
11bd,5ba – 8,580 sq ft
6bd,7ba – 4,291 sq ft
3bd,2.5ba – 2,440 sq ft
$6,500,000 / $757 psf
$5,495,000 / $1,280 psf
$3,400,000 / $1,393 psf
I n Contract Properties Listed at $2.25MM and Above
200 Washington Park
76 Schermerhorn St, #PH1
219 Jefferson Avenue
FORT GREENE
DOWNTOWN BROOKLYN
BED-STUY
Townhouse
Condominium
Townhouse
6bd,3ba – 4,136 sq ft
4bd,2.5ba – 2,325 sq ft
8bd,5.5ba – 4,000 sq ft
$4,200,000 / $1,015 psf
$3,995,000 / $1,718 psf
$3,195,000 / $798 psf