The gloves are coming off for house hunters in Brooklyn.
Last month, one in four homes in the borough sold for more than its asking price — a metric typically indicating a property traded after a bidding war. Of the 10 New York City neighborhoods with the highest share of homes sold over asking, six were in Brooklyn, according to a Streeteasy report published Thursday.
Heightened competition among buyers is a natural next step for the borough’s residential market, where prices have been climbing since pandemic changes drove up demand. Brooklyn logged nearly 500 inked deals in September, up 11 percent from the same period last year.
Some high-profile buyers have even swapped their Manhattan homes for pads in Brooklyn, setting new records. Last year, Glossier founder Emily Weiss and her partner, fintech executive William Gaybrick, paid $22 million for a Brooklyn Heights townhouse just five months after buying a Greenwich Village abode for $18 million, which they subsequently put back on the market.
Prospect Heights claimed the largest share of homes selling over asking, at 47 percent. The median asking price was $1.3 million. Earlier this year, Redfin labeled the neighborhood, along with the adjacent Clinton Hill, the most desirable in the country. The number of home sales in the enclave doubled in a year.
Next up was Park Slope with 44 percent of homes selling above their asking prices. A townhouse at 535 First Street broke neighborhood records last month when Jared Vinik, the son of Tampa Bay Lightning owner Jeff Vinik, bought it for $14 million.
Both Park Slope and Prospect Heights ranked higher in homes with above-ask closing prices than some desirable Manhattan enclaves, including the West Village and Greenwich Village.
Rounding out the top five on Streeteasy’s list was Brooklyn Heights, long recognized for its pricey townhomes, where 33 percent of homes sold over asking. The other Brooklyn neighborhoods included were Crown Heights, Williamsburg and Sheepshead Bay.
Across the five boroughs, the residential market is heading into the fourth quarter on a promising note. More than 1,700 homes found buyers last month, up 10 percent from year-ago numbers, and the highest total for September since 2021.
So far, it appears supply is keeping up with demand, with roughly 4,600 homes hitting the market last month, marking a 10 percent increase from last year.
Not so fast…
Just what the West Village needs: another double-wide townhouse.
A whopping 13,000-square-foot home in the neighborhood hit the market on Friday with a $75 million price tag. If it trades for that price, it will set a new record for Downtown Manhattan, displacing another megamansion that sold for $73 million just last year.
Before the home at 105-107 Bank Street was combined into one, each side of the monster residence housed its own storied residents, including John Lennon and Yoko Ono and composer John Cage.
The creation of these massive single-family residences has drawn criticism, especially in recent years, as the city grapples with a housing crunch. In Manhattan, researchers found that for each of these combinations, the borough lost between six and seven housing units.
NYC Deal of the Week
The priciest deal recorded in the city rolls this week was for a penthouse at 111 West 56th Street, which sold for $12.3 million, or $4,400 per square foot. The condo, which hit the market last April asking just under $15 million, has four bedrooms, four bathrooms and two terraces.
Unit PHC is one of 99 condos atop the Thompson Central Park Hotel. Amenities at the development, known as One11 Residences, include a fitness center, private lounge and access to the hotel’s concierge service.
Douglas Elliman’s Maria Mainieri, Taylor Middleton and Peter Evangelidis are heading sales for the developer, GFI Capital Resources.
