realestate

Luxury Contracts Soar in Brooklyn's Trendy Neighborhoods

Two Trees' One Domino Square Dominates Luxury Market with Multiple Top Listings.

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wo Trees' One Domino Square nearly swept the top spots in Brooklyn's luxury market last week, with three of its listings ranking among the borough's most expensive contracts. According to Compass, the property just missed out on claiming the top three positions, but a warehouse conversion took the No. 2 spot. The enthusiasm for Williamsburg condos wasn't limited to One Domino Square, as 21 contracts were signed from Sept. 16 to Sept. 22, with 15 of those being condo sales and six townhouse deals.

    The unit that led the week in contract signings had an asking price of $5.8 million and features four bedrooms, four bathrooms, and stunning river and city views. This marks nine contracts over $2 million in the past two weeks for the 39-story development, which is part of Two Trees' Domino Sugar Factory conversion. The units have been selling quickly since launching, with an average market time of just eight days.

    The second priciest contract went to a loft across the street at 333 Wythe Avenue, a 75-unit shoe polish factory conversion. The 2,350-square-foot condo last asked $4.3 million and features two bedrooms, exposed brick walls, and polished concrete floors. Luxury units in Brooklyn continued to move fast, lasting an average of 62 days on the market, down from 142 days in the same week last year. The median asking price was $2.5 million, with an average price per square foot of $1,497.

High-end real estate contracts surge in trendy Brooklyn neighborhoods such as Williamsburg.