Brooklyn’s luxury market reaches new pandemic high

first_img This content is for subscribers only.Subscribe Now 442 Union Street and 257 Berry Street (Google Maps)For the second week in a row, Brooklyn’s luxury market saw sales volume climb to record levels during the pandemic.Last week, 12 properties went into contract for a combined total of almost $36.1 million, according to a Compass weekly report. The data tracks the borough’s contract activity for properties asking $2 million or more. The previous week saw 10 properties go into contract for a total of $30.2 million.The pre-coronavirus bar was set on the week of March 9, when 15 contracts were inked for a combined $45.3 million.That was before nonessential businesses were orderedto close and in-person showings were banned.Of the deals last week, nine were townhouses, two were condos and one was a co-op. The median asking price was $2.5 million, and the average listing discount was 4 percent. The properties spent an average of 179 days on the market.ADVERTISEMENTThe most expensive deal was a Williamsburg townhouse, at 257 Berry Street. The four-bedroom home spans 4,700 square feet with three outdoor landscaped terraces, and a drive-in garage. It went into contract asking $5.25 million.The second priciest property was a 4,320-square-foot Carroll Gardens home at 442 Union Street. The four-bedroom townhouse has a backyard, a rooftop terrace and an elevator. Its final asking price was $4.39 million.Write to Erin Hudson at [email protected] moreBiggest week of pandemic for Brooklyn’s luxury marketGreenpoint condo was Brooklyn’s priciest contract last weekBrooklyn’s back: Luxury contract volume hits four-month highlast_img read more