Renovated Greenpoint Townhouse Scores $6M Deal
A rare North Brooklyn townhouse topped Brooklyn’s luxury contracts last week.
The deal was one of 16 — 11 condos and five single-family homes — signed for homes asking at least $2 million from July 27 to Aug. 2, according to Compass’ weekly report on Brooklyn’s luxury market. The total contract volume was $49 million.
The previous week saw 18 contracts signed for $76 million.
Homes entering contract last week had a median asking price of $2.8 million, spent an average of 69 days on the market and had an average price per square foot of $1,504.
The home at 96 Franklin Street in Greenpoint asking $6 million nabbed the week’s top contract.
Last sold for $2.4 million in 2016, the property underwent a renovation into a five-bedroom, three-and-a-half-bathroom single-family home with a garage and elevator.
Spanning 4,300 square feet and sitting two blocks away from the East River, the property has 900 square feet of rooftop space with a cedar hot tub and outdoor kitchen.
The first floor has an open-concept living and dining space and floor-to-ceiling glass in the rear that opens to the private garden, while the second floor has a private terrace. The third floor has a primary suite with a walk-in shower and freestanding soaking tub.
The deal, which listing agent Yuval Vidal said in an Instagram post nabbed full asking price, comes close to being one of Greenpoint’s most expensive trades. Another townhouse at 111 Noble Street set the neighborhood record last year when it closed for just under $7 million.
Compass’ Vidal and Leonard Steinberg had the listing.
The second priciest contract was for a condo at 180 Front Street in Dumbo asking $4.6 million.
Unit PH20D is one of over 400 condo units at CIM Group and LIVWRK’s two-tower development known as Front & York. The condo is in the 207-unit Front Tower, while another 200 units are at the York Tower at 85 Jay Street.
The sponsor unit was last listed at the same price in June 2024 before being taken off the market in November of that year, according to StreetEasy.
Spanning 1,800 square feet, the home has three bedrooms and two bathrooms, along with a 300-square-foot terrace that has a gas grill. The primary bedroom has a walk-in closet and en-suite bathroom with a freestanding soaking tub and separate shower.
The developers have started offering significant concessions, including covering transfer taxes and two years of common charges on all units, according to StreetEasy. Two-bedrooms under $2 million will have three years of common charges and mansion taxes covered.
The project launched sales in 2021 and is now over 80 percent sold, according to Marketproof. It has a private amenity space including a coffee lounge, co-working space, children’s playroom, outdoor terrace and barbecue deck and indoor and outdoor screening rooms. Residents also have access to a 25,000-square-foot park space and have direct access to a Life Time Fitness on the ground floor.
In 2021, RXR Realty agreed to buy the 320-unit rental portion of the project for $220 million.
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