Townhouses Continue Driving Brooklyn Luxury Market In October

Townhouses led the way again in Brooklyn’s luxury market last week.

Townhouses in Cobble Hill and Park Slope led 13 contracts for the property type last week, according to Compass’ weekly report. Among properties asking $2 million or more, the borough also saw two co-ops and 11 condos go into contract.

The week adds to a hot October for Brooklyn’s luxury market that has far outpaced last year’s activity.

In the first two weeks of October, Brooklyn has racked up $138 million in signed contracts for luxury properties, 60 percent more than last year. Townhouses have been driving the surge for much of the last year, with signings for the property type up 40 percent in the last 12 months compared to the previous 12 months.

But the rise is still below the borough’s 2021 pace, when the first two weeks of October had $182 million in luxury signings, according to Compass.

The top contract went to 224 Clinton Street, a 4,800-square-foot townhouse with a last asking price of $8 million. Built in 1847, the home has seven bedrooms and three bathrooms, as well as a triple parlor with floor-to-ceiling windows, a full storage cellar and a landscaped garden.

The home was renovated in 2009 and updated again this year. The property last traded hands in 2005 when it sold for $2.5 million, according to public records. The home was originally listed at $8.25 million in July before a price decrease to $7.95 million in September.

Corcoran’s Cara Sadownick and Tita Omeze had the listing.

The second most expensive contract was a townhouse at 56 Garfield Place in Park Slope with a last asking price of $6 million.

The townhouse was originally built in 1910 but was almost entirely newly constructed in 2017. The property was designed by The Brooklyn Home Company.

The four-story home has four bedrooms and five bathrooms, a finished cellar, all-floor elevator and multiple outdoor spaces. The living room features custom crown moldings, and the kitchen comes with a wall of windows, a La Cornue range and Pietra Cardosa countertops.

Private parking down the street comes at an additional cost.

The home last sold in 2017 for $5.95 million, its last asking price before going into contract last week.

Elliman’s Lindsay Barton Barrett had the listing.

The 26 total contracts signed last week had a median asking price of $2.9 million and an average price per square foot of $1,258. The homes lasted an average of 72 days on the market.