Brooklyn’s luxury condo market saw an increase in activity last week, with 19 contracts signed for homes asking at least $2 million. Of these, 15 were condos and four were houses, totaling $55 million in asking volume, according to Compass’ weekly reports for the period from September 8 to September 14.
This marks a rise from previous weeks when the market was slower. The prior week recorded 15 contracts—10 condos and five houses—with a total asking volume of $41 million. In comparison, during the same week last year, only nine luxury contracts were signed in Brooklyn for a combined $27 million.
The top contract was for Unit 4F at 1 Grand Army Plaza in Prospect Heights. The four-bedroom, three-bathroom unit spans 3,200 square feet and was listed in March at $5.75 million before a price reduction. Public records show the seller purchased it for $2.5 million in 2009.
The apartment features a great room that opens onto a balcony overlooking Prospect Park. The primary suite includes a walk-in closet and an en-suite bathroom with spa tub, marble-tiled shower, and radiant heated flooring.
Sotheby’s International Realty’s Karen Heyman and Alan Heyman represented the listing while Todd Lewin of Compass’ Lewin Rubin team brought the buyer.
The building is designed by Richard Meier and has full-service staff, bike storage, parking facilities, a shared roof terrace with outdoor kitchen and grills, billiards room, and residents’ lounge. Last year, Brooks Brothers CEO Ken Ohashi bought a penthouse unit there for $9.45 million.
The second highest-priced deal involved a combined condo unit at 360 Furman Street in Brooklyn Heights listed at $4.5 million. The seller acquired Unit 321 in 2012 for $1.2 million and added Unit 320 in 2018 for $1.9 million before combining them into one offering initially priced at $4.75 million this April.
This home measures 2,790 square feet with four bedrooms, three bathrooms, hardwood floors throughout living spaces with ceilings reaching up to thirteen feet high; it also includes an eat-in kitchen with custom cabinetry as well as a private terrace over nine hundred square feet large.
Compass’ Katherine Camp and Eric Schwarzkopf handled the listing.
Known as One Brooklyn Bridge Park, the twelve-story building was converted from its original use as a warehouse built in 1928 into condos in 2008. Amenities include round-the-clock doorman service; fitness center spanning three thousand square feet; yoga studio; parking garage; billiards room; golf simulator; movie theater.
Combining units within this building has become common practice among owners: In recent years hedge fund executive Stuart Leaf sold an apartment that merged two duplexes for nearly eight million dollars after previously combining three units across multiple floors aiming to set records on price per square foot listings within the development.
Last week’s contracted homes had an average price per square foot of $1,614 and carried median asking prices of about $2.7 million.
