At first glance, Brooklyn’s luxury market last week may have looked similar to last year.
According to Compass’ weekly report on Brooklyn homes priced over $2 million, 15 listings went under contract in Brooklyn between Aug. 19 and Aug. 25, the same number as this time last year. The deals included one co-op, eight townhouses and six condos, with an average asking price of $2.8 million, slightly up from last year’s $2.7 million.
However, days on market fell to 83 days from 142 days last year, continuing a monthly trend of Brooklyn luxury deals spending less days on market compared to last year. Last week, days on market were down 34% and the week before that, they were down 62%.
The rapid sale of the borough’s luxury home inventory coincides with a surge in demand citywide due to falling mortgage rates.
The top deal of the week was for a townhouse at 576 Bergen Street in Prospect Heights, with a final price of $5.2 million. The 3,600-square-foot brownstone has five bedrooms, four bathrooms and a backyard with a deck. The home was recently renovated and features herringbone oak floors, air conditioning and new windows.
The property last sold in 2022 for $4.9 million.
The home had been on the market for 31 days, but Leslie J. Garfield Realtor Matt Lesser said the quick sale was due to a strong market for the well-renovated townhouse and the ability to quickly secure a closing date.
The second most expensive deal this week was for unit 20C at 50 Bridge Park Drive (aka Quay Tower). The three-bedroom, three-bathroom condo has 1,786 square feet and a final asking price of about $3.6 million. The apartment also features floor-to-ceiling windows and a master bedroom with a marble bathroom.
The 125-unit Brooklyn Heights development will feature a 24-hour concierge, fitness center, rooftop lounge and music room.
The building frequently ranks among the area’s top luxury deals: Penthouse 1C went under contract in July for a final asking price of nearly $8 million, and another penthouse sold in February for $10 million.
Jim Hayes of Serhant had the list.
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