I
n a recent report, Compass revealed that a mid-century modern property in Brooklyn Heights was the most expensive of 17 properties asking for $2 million or more between September 2nd and September 8th. The property, located at 48 Willow Place, was listed for $12 million and was sold to an unknown buyer for $5.8 million in 2021 after undergoing renovations. The home spans 5,500 square feet and features six bedrooms, four bathrooms, a garden, and a garage. The property was previously owned by local architects Joseph and Mary Merz, who bought the property along with two neighboring lots in the 1960s for a steal due to Robert Moses' plans to build a Brooklyn Queens Expressway ramp nearby (which was later built on Atlantic Avenue). The Merzes lived in the home for many years before it hit the market for the first time in 2020 after Joseph's death at the age of 92. Mary passed away nine years earlier at the age of 85.

    In addition to the Brooklyn property, a townhouse at 605 2nd Street in Park Slope also made it to a signed contract with an asking price of $5.2 million. The property, which hit the market in April, last traded for $3.1 million in 2005. It features a finished basement, back patio, garden, and central staircase. The property was listed by Compass' Zina Raslan.

    The total number of homes entering contract increased from 14 properties before Labor Day weekend. Out of the 17 homes, 10 were townhouses, while seven were condos. The average asking price of these homes was $3.4 million, which translates to approximately $1,400 per square foot. The typical home spent 69 days on the market and sold for an average discount of 2 percent from the listing price.

    In other news, Manhattan's luxury market experienced a boom post-Labor Day, breaking records in a week marked by high demand for high-end properties. The resale of a property at 220 Central Park South led the way for Manhattan's luxury market into September.