realestate

Brooklyn Luxury Sales Surpass $80M Mark with Townhouse Dominance

Townhouses dominate Brooklyn's luxury market, with 13 contracts signed in Cobble Hill and Park Slope last week.

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rooklyn's luxury market remained hot last week, with townhouses leading the way. In Cobble Hill and Park Slope, 13 townhouse contracts were signed, according to Compass' weekly report. This included two co-ops and 11 condos priced at $2 million or more.

    The surge in activity has been driven by townhouses, which have seen a 40% increase in signings over the past 12 months compared to the previous year. However, this pace is still below that of 2021, when the first two weeks of October saw $182 million in luxury signings.

    Notably, the top contract was for 224 Clinton Street, a 4,800-square-foot townhouse with seven bedrooms and three bathrooms, listed at $8 million. The home has been renovated and updated multiple times since its original construction in 1847.

    The second most expensive contract was for a townhouse at 56 Garfield Place in Park Slope, priced at $6 million. This four-story property features custom design elements, including crown moldings and a La Cornue range.

    Last week's contracts had a median asking price of $2.9 million and an average price per square foot of $1,258. The homes averaged 72 days on the market before going into contract.

Brooklyn luxury townhouses sell for over $80 million in high-end real estate market.