Australian REIT’s Brooklyn Townhouses Snag Top Contracts

The homes made up two of the 22 contracts — 13 condos and nine houses — signed for at least $2 million from July 14 to July 20, according to Compass’ weekly luxury contract report. The 22 contracts had a total asking volume of $71 million.
The previous week saw 18 contracts signed for a total volume of $64 million.
Both homes appeared to be part of US Masters Residential Property Fund, according to public records, the largest real estate investment trust listed in Australia.
The trust owned 72 properties valued at over $200 million in the New York metropolitan area, with the majority of those homes in Brooklyn, according to its first quarter report.
Both homes signed contracts with last asking prices of $6 million, and Brown Harris Stevens’ Ari Harkov, Warner Lewis and Christian Emanuel had both listings.
The first, a single-family limestone home at 10 Polhemus Place in Park Slope, spans 4,500 square feet and has four bedrooms and four full bathrooms.
The garden level features a wet bar and one of two sets of washers and dryers, with access to the backyard and patio.
The second floor is split across two bedrooms. The front has a walk-in closet, en-suite bathroom and dressing area with stained glass skylights, and the back has the primary suite.
An LLC tied to the trust purchased the property for $3.3 million in 2013, according to property records. It had been renting it out since, with it last going for $13,000 per month in 2020, according to StreetEasy.
The home was one of four properties the trust held in Park Slope, according to its quarterly report.
The second priciest contract signed last week was for 233 Bergen Street in Boerum Hill, spans 2,990 square feet and has five bedrooms and five full bathrooms.
The four-level home has a private elevator, four terraces and a backyard. The primary suite has a walk-in closet and attached balcony. The fourth floor holds a lounge with a wet bar and dual terraces, above which sits a large roof deck.
The home was the only property the fund held in Boerum Hill, and was valued at $5.9 million in the first quarter report.
An LLC tied to the trust purchased the property for $2.8 million in 2017, according to property records.
Last week’s contracts had a median asking price of $3 million and an average price per square foot of $1,542.
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