Two Schermerhorn Townhouses Top Brooklyn Luxury Market

Another turnkey townhouse has scored a contract after asking eight figures.

The 7,500-square-foot home at 25 Schermerhorn Street had initially been a multi-family property when it was bought by development firm Buttermilk for $4.3 million in 2020.

Over four years later, the home signed a contract with a last asking price of $13 million, or roughly $1,750 per square foot. It was the priciest of Compass’ weekly report on signed deals for Brooklyn properties asking at least $2 million from Feb. 3 to Feb. 9.

The property has hit the market in a few configurations in recent years. The home, still with a multi-family layout, was initially listed for $7 million in 2022. The listing noted that the 800-square-foot backyard was newly renovated.

The price was cut to $6 million over the course of the year before being taken off the market, at which point it reappeared in the middle of 2024 as a single-family with its current asking price.

The 25-foot-wide Anglo-Italianate brownstone boasts six bedrooms and five full bathrooms, as well as 13-foot ceilings and custom white oak chevron floors on the parlor floor. The second floor is used as the primary suite, with a private terrace, two walk-in closets and a bathroom with a steam shower and Porcelanosa tub.

The home also still has its backyard, as well as a finished rooftop, for outdoor space.

Buttermilk Brokerage’s Chad Schwach and Jonathan Kwan had the listing.

The second priciest contract in the borough went to a gut-renovated townhouse located, at 36 Schermerhorn Street — right across the street from the first.

The Brooklyn Heights home had a last asking price of $7 million — which came out to over $2,000 per square foot for the 3,400-square-foot brownstone.

The single-family was gut-renovated to include bespoke details like solid wood beams and partitions, wool insulation, green roofing, a whole-house water filtration system and natural stone and marble countertops.

Compass’ Barbara Wilding, Jillian Woods and Lucy Bekheet had the listing.

It was another strong week for the Brooklyn luxury market, which netted 29 contracts — 18 condos, one co-op and 10 townhouses — for a total contract volume of nearly $100 million. That total almost doubled the second week of February last year, which had a signed asking volume over $46 million.

The nearly nine-digit total this week still fell short of the same week in 2022, which had over $122 million in signed luxury contracts in Brooklyn.

The median asking price last week was $2.7 million, the average asking price per square foot was $1,426 and the average discount was 0 percent.