Brooklyn Luxury Contracts Cool Off in April

The Brooklyn luxury market cooled off during a tumultuous first week of April.
In total, 18 contracts — nine condos and nine townhouses — were signed for a total contract volume of $50.7 million for homes asking at least $2 million between March 31 and April 6, according to Compass’ weekly report.
During the same week last year, there were 24 contracts signed for a total contract volume of $70.4 million.
Last week’s contract volume is the market’s lowest since the last week of February.
The top contract signed last week went to a Prospect Heights townhouse asking $4.5 million, or $1,250 per square foot for the 3,500-square-foot home.
The renovated two-family home at 301 Park Place has four bedrooms and three full bathrooms. It is currently configured as a three-bedroom owner’s duplex and a garden-level rental with a tenant in place.
The sellers extended the home 20 feet deeper as part of the renovation to take advantage of the 130-foot lot on which it sits. The townhouse includes original details like stained-glass windows and preserved woodwork.
The home was on the market for less than a month, and was listed by Brown Harris Stevens’ Christopher Kromer and Nora Ariffin.
The second priciest contract last week went to a Park Slope townhouse at 578 4th Street asking $4.25 million.
Located less than 200 feet from the entrance to Prospect Park, the single-family home has five beds and three full baths. The exterior features a limestone facade with a copper bay window, bas relief patterns and original stained-glass windows, while the interior includes restored parquet floors, plaster molding and woodwork.
The primary bedroom on the second floor has an en-suite bathroom with a steam shower.
The home hit the market just two weeks ago, according to StreetEasy, and was listed by Brown Harris Stevens’ Peter Grazioli and Bernadette Mitchell.
Homes that went into contract last week had an average price per square foot of $1,398 and an average discount of 2 percent.
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