Engel & Völkers Brownstone Brooklyn Weekly Luxury Market Report : June 1 - 7, 2020

WEEKLY REPORT June 1 – 7, 2020

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 - 7, 2020

All Properties Listed at $2.25MM and Above

NEW TO MARKET There were 10 new properties priced above $2.25MM put on the market this first week of June. Average asking price is 8% above last week’s average asking price, at $3.51MM. Furthermore, median asking is up 15% week-over-week, at $3.42MM. Average price per square foot (PPSF) is $1,242, which is 3% down from last week's average PPSF. Total volume is $35.13MM. Of the new to market properties, top asking price is an 8-bedroom 5-bathroom townhouse resale at 260 President Street in Carroll Gardens, listed at $5.10MM. From the condominium market, Penthouse 11 at Parlour 243 4th Avenue in Park Slope is listed at $4.50MM ($1,391PSF). The new condominium development at 98 Front Street in DUMBO put to market another sponsor unit, #6B, asking $2.53MM. Notably, the last remaining single-family townhouse development site in Brooklyn Heights at 33 Joralemon Street is now available for $2.795MM.

10

Listings

$3,513,000

Average Asking Price

$3,422,500

Median Asking Price

$1,242

Average PPSF

$35,130,000 Total Volume

A selection of these properties is shown on page 6 of this report.

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & VĂślkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 - 7, 2020

New To Market Properties Listed at $2.25MM and Above

TOWNHOUSES

Resale

Sponsor

7

–

Average Asking Price

$3,647,143

–

Median Asking Price

$3,495,000

–

$1,136

–

Total Volume

$25,530,000

– –

CONDOS

Resale

Sponsor

Listings

–

3

Average Asking Price

–

$3,200,000

Median Asking Price

–

$2,575,000

Average PPSF

–

$1,489

Total Volume

– –

$9,600,000

Resale

Sponsor

Listings

–

–

Average Asking Price

–

–

Median Asking Price

–

–

Average PPSF

–

–

Total Volume

– –

–

Listings

Average PPSF

CO-OPS

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 - 7, 2020

All Properties Listed at $2.25MM and Above

IN CONTRACT Five deals listed above $2.25MM went into contract this week: three townhouse resales, one condominium sponsor unit, and the iconic co-op at 28 Old Fulton Street, Unit Clock in Brooklyn Heights.

Average asking price for all deals under contract is up 12% from last week's average asking price, and average PPSF is up 9%. Average days on market is 160 days.

Looking at townhouse resales, 314 Hicks Street in Brooklyn Heights entered contract this week with the top asking price of $6.795MM, which is a 2.86% discount from its original price. The 5-bedroom 3bathroom single-family home was on the market for 240 days compared with the average days on market of 174 days for the other two townhouses. For these deals, average asking price is up 19% week-overweek, at $4.83MM, and median asking price is up 10%, at $4.50MM. Average PPSF is $1,546, which is 26% higher than last week's. Average discount on ask for these townhouse resales is 1.14%.

The 4-bedroom 3.5-bathroom sponsor unit at 243 4th Avenue, #4A entered contract this week with a last ask of $2.495MM. On a price per square foot basis, it is 20% lower than last week's sponsor units at $1,304PSF.

5

Deals

$3,868,000

Average Asking Price

$3,200,000

Median Asking Price

$1,561

Average PPSF

-0.68%

Average Discount

160

Average Days On Market

$19,340,000 Total Volume

The co-op at 28 Old Fulton Street, Unit Clock entered contract with a last ask of $2.35MM ($1,865PSF). The 1-bedroom loft spent 104 days on market. More information on this deal is shown on page 6 of this report.

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Vรถlkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 - 7, 2020

In Contract Properties Listed at $2.25MM and Above

TOWNHOUSES

Resale

Sponsor

3

–

Average Asking Price

$4,831,667

–

Median Asking Price

$4,500,000

–

$1,546

–

$14,495,000

–

174

–

Resale

Sponsor

Listings

–

1

Average Asking Price

–

$2,495,000

Median Asking Price

–

$2,495,000

Average PPSF

–

$1,304

Total Volume

–

$2,495,000

Average Days on Market

–

173

Resale

Sponsor

1

–

Average Asking Price

$2,350,000

–

Median Asking Price

$2,350,000

–

$1,865

–

$2,350,000

–

104

–

Listings

Average PPSF Total Volume Average Days on Market

CONDOS

CO-OPS Listings

Average PPSF Total Volume Average Days on Market

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 – 7, 2020

NOTABLE PROPERTIES New To Market Properties Listed at $2.25MM and Above

260 President Street

243 4 t h Avenue, #PH11

33 Joralemon Street

CARROLL GARDENS

PARK SLOPE

BROOKLYN HEIGHTS

Townhouse

Condominium

Townhouse Development Site

8bd,5ba – 4,360 sq ft

5bd,4.5ba – 3,235 sq ft

20’ x 85.5’ lot

$5,100,000 / $1,170 psf

$4,500,000 / $1,391 psf

$2,795,000

I n Contract Properties Listed at $2.25MM and Above

314 Hicks Street

379 12th Street

28 Old Fulton St, Clock

BROOKLYN HEIGHTS

PARK SLOPE

BROOKLYN HEIGHTS

Townhouse

Townhouse Development Site

Co-Op

5bd,4ba – 4,000 sq ft

44’ x 100’ lot

1bd,1ba – 1,260 sq ft

$6,795,000 / $1,699 psf

$3,200,000

$2,350,000 / $1,865 psf

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & Völkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.

BROWNSTONE BROOKLYN LUXURY MARKET REPORT

WEEKLY REPORT June 1 – 7, 2020

@E VBrownstoneBrooklyn brownstonebrooklyn.evrealestate.com

All materials presented herein are prepared by Brennan Realty Services LLC, (d/b/a Engel & VĂślkers Brownstone Brooklyn) and are intended for informational purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawal without notice. Property information was gathered through PerchwellTM, PropertySharkTM, NYC.gov, and other sources deemed reliable. Methodology subject to change.