A townhouse in Park Slope has set a new record for the neighborhood’s most expensive residential sale. The property at 535 First Street, measuring 6,500 square feet, was sold for $13.9 million, as first reported by the Wall Street Journal. The home went into contract in August with an asking price of $14.5 million.
The sellers, Jeanne and Dennis Masel, purchased the five-story townhouse for nearly $6 million in 2017 and started a four-year renovation with Leroy Street Studio in 2018. The home initially came to market at $18 million with Brown Harris Stevens in May 2024. Price reductions followed: to $17 million early this year, then re-listed with Compass’ Tim Malone at $16.5 million in April, and again dropped to $14.5 million by the end of May.
This transaction surpasses the previous record held by 53 Prospect Park West, which Poly Prep Country Day School acquired from the Brooklyn Society for Ethical Culture for $13.5 million in an off-market deal last year.
Market data shows that single- and multi-family homes remain popular choices among Brooklyn buyers. In the second quarter of this year, average prices per square foot for one-to-three family homes increased almost 11 percent compared to last year, reaching $829 according to a report from Miller Samuel (https://www.millersamuel.com/reports/). Specifically within Park Slope, sales volume declined by 20 percent during the first half of 2025 but average prices per square foot rose by two percent year-over-year; homes generally sold above their asking price based on Leslie Garfield’s townhouse report (https://lesliegarfield.com/research/townhouse-reports).
The renovated townhouse is located less than a block from Prospect Park and features five bedrooms and three bathrooms. The garden level includes a sunken den with a gas fireplace, an open kitchen featuring an 18-foot marble island with direct access to the garden. Another gas fireplace is found on the parlor-level living room while an open library with glass walls overlooks the backyard.
The third floor houses a primary suite equipped with a walk-in dressing room, private terrace and en-suite bathroom. The top floor provides additional living space with retractable glass walls opening onto two terraces.
