Brooklyn’s luxury housing market saw over $108 million in contract signings last week, nearing the record set in November of last year when contract volume reached $115 million. According to Compass’ weekly report, between September 29 and October 5, more than 35 contracts were signed for homes asking at least $2 million. The breakdown included 12 condos and 23 houses.
For comparison, during the same period last year, there were only 15 contracts totaling over $56 million. That week marked the strongest start to October since Compass began publishing its reports in 2020.
The most expensive contract last week was for a townhouse at 42 Monroe Place in Brooklyn Heights, listed at nearly $8.9 million. The home is a two-family property spanning over 6,400 square feet and has been owned by the same family for 45 years. Built in 1913, the house features duplex residences on both the lower and upper floors. The bottom two floors offer a four-bedroom home with multiple living spaces and modern amenities such as a windowed kitchen and sun room. The third and fourth floors contain a three-bedroom residence with a primary suite on the top floor. Leslie Marshall and Nick Hovsepian from Corcoran managed the listing.
The second highest contract was for a penthouse at 524 Manhattan Avenue in Greenpoint, which was listed for almost $6 million. This off-market deal set a new record for condo sales in Greenpoint, as previously reported by The Real Deal. Ronen Segev purchased the unit in 2019 for $1.9 million and invested about $2 million into renovations that included custom features like an outdoor kitchen and heated cabana. The duplex measures 1,780 square feet inside with an additional 680 square feet of outdoor space.
Compass’ John Chubet handled the listing after previously offering it at $8 million in 2022 before removing it from the market earlier this year. Cornell Jones from Nest Seekers represented the buyer.
Last week’s contracts had a median asking price of $2.75 million with an average price per square foot of $1,206. Most homes went into contract at their final asking price.
