realestate

Brooklyn Luxury Market Sees Townhouse Dominance

Brooklyn's top luxury contracts again go to townhouses, a trend that continues for the fifth consecutive week.

T
he top of the Brooklyn luxury market remained dominated by townhouses last week, with all seven most expensive contracts going to these properties. According to Compass' weekly report, townhouses accounted for 10 out of 21 total contracts signed between Oct. 21 and Oct. 27, while condos made up the remaining 11 deals. The total volume of $71 million represented a 20% year-over-year increase from the same week last year.

    The most expensive contract was for a 25-foot-wide townhouse at 138 State Street, which had a last asking price of $6.5 million and features eight bedrooms, four full bathrooms, and original plaster moldings. The second priciest contract went to a townhouse at 787 Carroll Street in Park Slope with a last asking price of $5 million.

    Apartments going into contract last week lasted an average of 114 days on the market and sold at a 2% discount, compared to 88 days and a 1% discount during the same week last year. The median asking price and price per square foot were up year-over-year to $3.1 million and $1,318, respectively.

Brooklyn luxury townhouses dominate market with high-end sales and real estate activity.