Discounts Disappear in Brooklyn’s January Luxury Market

Good deals were harder to find in Brooklyn last week.

Homes asking at least $2 million that went into contract had an average discount of negative 1 percent, according to Compass’ weekly Brooklyn luxury report.

The borough saw 16 total contracts — eight condos, one co-op and seven townhouses — signed between Jan. 13 and Jan. 19. The contracts had a median asking price of $3.1 million and a total volume of $54 million. In the same week last year, there were eight contracts signed for $28 million.

The top contract of the week went to a Cobble Hill condo in an off-market deal.

The 4,130-square-foot home, asking $6.3 million, is part of a two-unit renovated townhouse by Brooklyn-based developer Eckstrom. Douglas Elliman’s Aran Scott brought the buyer in the deal.

Unit 1, a newly converted condo, has four bedrooms, four bathrooms, a private sauna and a garden and patio. It also features triple-paned windows and a fresh air recirculation system.

Eckstrom, which was founded by Carlos Saavedra and Nicole Eckstrom, buys multi-family and single-family homes in Brownstone Brooklyn for redevelopment.

The pair purchased the property at 32 Butler Street for $3.9 million in 2023.

In recent months, the pair has flipped multi-family homes into single-family townhouses and has listed some of the borough’s top townhouses, including a home at 307 Hicks Street asking $15.5 million that went into contract in December.

The second most expensive contract belonged to Unit 7T at 34 North 7th Street in Williamsburg.

The 2,270-square-foot condo, a resale at The Edge’s North Tower, was asking $5 million. The three-bedroom, three-bathroom home has 20-foot floor-to-ceiling windows and 522 square feet of outdoor space.

The home last sold for $3.9 million in 2014.

The Edge was one of the pioneering luxury developments in Williamsburg before the neighborhood was filled with designer storefronts and $8-latte-hawking cafes.

Built in 2008 by Douglaston Development, the project consists of 575 condo units spread across two towers, along with a third rental tower. The development is amenity-rich, with an indoor pool, steam and sauna rooms, a full-size indoor basketball court, yoga and dance studios and virtual golf.

Brown Harris Stevens’ Warner Lewis, Ari Harkov and Christie Larusso of the Harkov Lewis Team had the listing.

This article has been updated with information on the buyer broker in the deal for 32 Butler Street.