WEEKLY REPORT September 7 – 13, 2020
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
BROWNSTONE BROOKLYN LUXURY MARKET REPORT
WEEKLY REPORT September 7 – 13, 2020
All Properties Listed at $2.25MM and Above
NEW TO MARKET There were 29 new for-sale properties priced above $2.25MM this week following Labor Day, a 123% increase in listings from the prior week. Average asking price is up 2% at $3.26MM, however the median asking price is down 4% at $2.75MM, indicating the bulk of inventory below the $3MM mark. Average PPSF is $1,436, which is a strong 30% increase WoW. Total inventory is $93.63MM. Of the 12 townhouse resales, top asking price of $6.25MM belongs to the three-family home at 916 President Street in Park Slope. The second highest asking, $4.85MM, belongs to 99 Butler Street in Boerum Hill. Average asking is up 7% WoW to $3.37MM. More notably, PPSF is up 31% from last week’s levels to $1,128. There were 8 condo resales newly listed this week. The corner residence at 60 Broadway, #10D in Williamsburg boasts the top asking of $7.99MM ($1,999PSF). A far second in price, 121 Sterling Place, #1A in Park Slope is asking for $3.85MM. Average asking price of $3.36MM is 17% above the prior week and 32% above the prior month. PPSF is $1,558, which is down 2% MoM.
29
Listings
$3,263,172
Average Asking Price
$2,749,000
Median Asking Price
$1,436
Average PPSF
$94,632,000 Total Volume
Of the seven sponsor units, top asking price of $5MM belongs to a penthouse unit at 11 Hoyt Street in Downtown Brooklyn ($2,071PSF). Average asking is $3.12MM, which is a 11% increase MoM. PPSF is $1,777, which is 19% above the prior month. Of the two co-ops, the top asking price of $3.25MM belongs to the 3-bedroom home at 9 Prospect Park West, #2C in Park Slope. @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 September 7 – 13, 2020
New To Market Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
12
–
Average Asking Price
$3,366,667
–
Median Asking Price
$2,872,500
–
$1,128
–
Total Volume
$40,400,000
– –
CONDOS
Resale
Sponsor
8
7
Average Asking Price
$3,362,125
$3,119,286
Median Asking Price
$2,624,500
$2,740,000
$1,558
$1,777
$26,897,000
$21,835,000
Resale
Sponsor
2
–
Average Asking Price
$2,750,000
–
Median Asking Price
$2,750,000
–
$1,606
–
$5,500,000
–
Listings
Average PPSF
Listings
Average PPSF Total Volume
CO-OPS Listings
Average PPSF 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 September 7 – 13, 2020
All Properties Listed at $2.25MM and Above
IN CONTRACT Seven properties entered contract this week at $2.25MM and above, a 75% increase in transaction activity from the prior month. Average asking price is at $3.4MM and median asking is $3.3MM, both down on the week but up on the month. Average PPSF is $1,128, which is above the prior week by 8%. Average discount on ask is 4.13%. Average days on market for these properties is 79 days. Of the four townhouse resales, the 5-bedroom Italianate brownstone at 141 Saint James Place entered contract with a last ask of $4.25MM after 77 days on market. The properties at 119 Bergen Street in Boerum Hill and 248 Henry Street in Brooklyn Heights entered contract after price adjustments of around 12%. The latter of the two spent 240 days on market. Average asking price is level with the previous week at $3.84MM, and median asking is up by 8% on the week to $3.91MM. Both measures show increases of 40% above levels from the previous month. Average days on market is 115 days. Of the two condo resales, 360 Furman Street, #601/602 in Brooklyn Heights had contracts signed at $2.799MM after 43 days on market and a 5.12% discount. In Park Slope, 363 Douglass Street, #1 entered contract at $2.35MM after 50 days on market. Average PPSF between these two is $1,106.
7
Deals
$3,396,143
Average Asking Price
$3,300,000
Median Asking Price
$1,128
Average PPSF
-4.13%
Average Discount
79
Average Days On Market
$23,773,000 Total Volume
The sole sponsor unit this week is at 1 Clinton Street, #18C in Brooklyn Heights. The 3-bedroom home was listed already in contract with a last ask of $3.249MM. More information on these deals is shown on page 5 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 September 7 – 13, 2020
In Contract Properties Listed at $2.25MM and Above
TOWNHOUSES
Resale
Sponsor
4
–
Average Asking Price
$3,843,750
–
Median Asking Price
$3,912,500
–
$1,012
–
$15,375,000
–
115
–
Resale
Sponsor
2
1
Average Asking Price
$2,574,500
$3,249,000
Median Asking Price
$2,574,500
$3,249,000
$1,106
$1,640
$2,574,500
$3,249,000
47
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
@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 September 7 – 13, 2020
NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above
60 Broadway, #10D
916 President Street
11 Hoyt Street, #PHE
WILLIAMSBURG
PARK SLOPE
DOWNTOWN BROOKLYN
Condominium
Townhouse
Condominium
5bd,4.5ba – 4,000 sq ft
7bd,5ba – 5,000 sq ft
3bd,3.5ba – 2,414 sq ft
$7,999,000 / $1,999 psf
$6,250,000 / $1,250 psf
$5,000,000 / $2,071 psf
I n Contract Properties Listed at $2.25MM and Above
141 Saint James Place
380 Degraw Street
119 Bergen Street
CLINTON HILL
CARROLL GARDENS
BOERUM HILL
Townhouse
Townhouse
Townhouse
5bd,4.5ba – 3,800 sq ft
5bd,3ba – 3,700 sq ft
7bd,3ba – 3,200 sq ft
$4,250,000 / $1,118 psf
$4,075,000 / $1,101 psf
$3,750,000 / $1,172 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 September 7 – 13, 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.