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Brooklyn’s luxury market saw signed contracts fall to a low for 2022, topped by Boerum Hill and Park Slope units.
Brooklyn’s luxury market kicks back for Labor Day with 2022 low
Signed contracts fell to year low, combined asking to year’s second lowest levelBrooklyn’s luxury market took the week off ahead of Labor Day weekend.
The week leading up to the holiday saw just 11 properties enter contract — six condos and five townhouses — the lowest single week total this year, according to Compass’ weekly report of homes in the borough asking $2 million or more.
The properties’ combined asking hit $35.2 million, the lowest since the week of January 3. The average home spent 210 days on the market and sold for a price-per-square-foot of $1,325. Homes sold on average at a 3 percent discount, marking eight weeks since homes sold for the full ask.
The most expensive home to enter contract last week was a townhouse at 232 Dean Street in Boerum Hill, with an asking price of $8.5 million.
The 21-foot-wide house built in 1853 has five bedrooms and four full bathrooms. It spans 4,246 square feet and has original parquet floors, pocket doors, decorative marble fireplaces, floor-to-ceiling windows and a sun room extension.
The second most expensive home to enter contract last week was Unit 6G at 1 Prospect Park West in Park Slope, asking $4.5 million.
The unit has three bathrooms and an oversized primary bedroom with views of the Manhattan skyline. The home, which sold in a sponsor sale, was the last four-bedroom apartment available in the condo development by Sugar Hill Capital Partners.
Plans for the 67-apartment building, which has appeared at the top of Brooklyn’s signed luxury contracts in recent years, date back to 2017, when Sugar Hill bought a senior center mired in lawsuits. It has a sellout of just under $200 million and has three units on the market, according to its website.