realestate

Brooklyn's Luxury Condo Market Takes a Holiday

Brooklyn's luxury market sees slowdown after Thanksgiving with 11 contracts totaling $37.7M.

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rooklyn's luxury market experienced a slowdown due to the holiday season, with 11 contracts signed last week for a total volume of $37.7 million. This is down from the previous week's 22 contracts worth $74 million. In comparison, seven contracts were signed in the same period last year for a total of $27.7 million.

    The top contract was for a resale condo at 130 Furman Street in Brooklyn Heights, asking $5.7 million. The four-bedroom, two-bathroom duplex features a private terrace and custom kitchen with walk-in pantry. Developed by Toll Brothers in 2016, the Pierhouse building offers amenities like fitness centers, yoga room, and on-site parking.

    The second-highest contract was for another Brooklyn Heights condo at 50 Bridge Park Drive, asking $5.4 million. This four-bedroom, three-bathroom apartment features a private elevator, oak flooring, and white oak cabinetry in the kitchen. Quay Tower offers a 24-hour concierge, fitness center, rooftop lounge, and music room.

    Last week's contracts had a median price of $2.9 million and an average price per square foot of $1,475. The average days on market was 81, with an average discount of 1 percent.

Luxury condos in Brooklyn sit empty during holiday season.