The market for luxury homes in Brooklyn – and especially in townhouses – has come back to life after a year slow start in a year.
According to Compass, twenty-five households signed a contract last week, demanding more than $ 2 million weekly report. There were 17 burgher houses.
The total number of requested prices was $ 83 million, an increase of $ 37.6 million the week before.
Remarkably, the average price per square foot for townhouses cracked for the first time in months with $ 1,000, reaching $ 1,031 – 31 percent more than the previous week. The average price per square foot for the eight apartments that signed a contract last week was $ 1,897, compared to $ 1,500 a week ago.
The two most expensive contracts signed last week were apartments in One Prospect Park West, a 55-unit building being renovated by Sugar Hill Capital Partners. The project, the transformation of the former nursing home Madonna Residence, aims to sell off less than $ 200 million.
The four-bedroom unit in the building was the most challenging home to sign a contract with a final asking price of $ 5.9 million. The 3,176-square-foot house has pre-war details and nine-foot ceilings.
The second most demanding contract was for three bedrooms in the building, which last required $ 4.65 million. Common facilities at the building include a rooftop deck, fitness center and private storage.
During the first week of the year, apartments dominated number of luxury contracts concluded for the first time in months.
The median asking price for all 25 contracts entered into last week was $ 3.2 million. The average time on the market was 180 days and the average drop in the asking price was 6 percent.