realestate

Luxury Brooklyn listings lose discounts

Brooklyn luxury homes saw average price drops of 1% last week.

L
ast week, Brooklyn's luxury market saw a surge in high-end deals. According to Compass' weekly report, 16 contracts were signed between January 13 and 19, with an average discount of -1% on homes asking at least $2 million. The median asking price was $3.1 million, and the total volume reached $54 million.

    The top contract went to a Cobble Hill condo in an off-market deal, priced at $6.3 million. The 4,130-square-foot home features four bedrooms, four bathrooms, and high-end amenities like a private sauna and garden. Douglas Elliman's Aran Scott brought the buyer in the deal.

    Eckstrom, a Brooklyn-based developer founded by Carlos Saavedra and Nicole Eckstrom, purchased the property at 32 Butler Street for $3.9 million in 2023. The company has been flipping multi-family homes into single-family townhouses and listing top-tier townhouses, including one at 307 Hicks Street asking $15.5 million.

    The second most expensive contract belonged to Unit 7T at 34 North 7th Street in Williamsburg, a resale condo asking $5 million. The three-bedroom, three-bathroom home has 20-foot floor-to-ceiling windows and 522 square feet of outdoor space. Brown Harris Stevens' Warner Lewis, Ari Harkov, and Christie Larusso had the listing.

    In comparison to last year's same week, Brooklyn saw a significant increase in luxury contracts, with eight deals signed for $28 million. The borough's luxury market continues to show resilience despite challenges.

Upscale Brooklyn real estate listings revert to original prices after temporary discounts expire.