Putting the Brook in Brooklyn
Developers Witkoff and Apollo broke ground last week on The Brook, a 600-foot luxury high-rise in Brooklyn’s Albee Square. The building was designed by Beyer Blinder Belle with interiors by Bonetti Kozerski.
When completed, the property will house 591 rental apartments at the intersection of Fulton and Flatbush Avenues, plus 30,000 square feet of indoor and outdoor amenities and nearly the same amount of ground-floor retail.
At the groundbreaking, Regina Myer, president of the Downtown Brooklyn Partnership, said the addition of The Brook at the crossroads of the neighborhood will be “transformative.”
Manhattan real estate takes a dip
It wasn’t just the stock market that took a dive last week: Between June 14 and 19, Manhattan’s luxury real estate market experienced its slowest period since the end of December 2020, according to Olshan Realty’s weekly report.
Only a dozen contracts were signed for condos priced above $4 million, less than half the number signed the week prior. This “anemic performance” coincided with the S&P 500 Index dropping 5.8%, as Donna Olshan, the company president, noted.
The top deal of the week was a three-bedroom condo at Robert AM Stern–designed 15 Central Park West, which was listed at $26 million. That’s down from $28 million in April and from the $30 million the seller paid in 2014.
The most expensive home in every state
Real estate watchers keep close tabs on the coasts, but what about the most expensive listings in Oregon, Hawaii, or Texas? ❤
Real estate analysis firm Point2 has released a report on the priciest open listing in every state, as of June 16.
Unprisingly, California topped the chart with a $225 million Mediterranean estate in Malibu, designed by Robert AM Stern, followed by New York, with a $175 million mansion in Southampton, owned by former ad exec Marcia Riklis. (If the 11-bedroom home gets anywhere near the asking price, it will be the biggest sale ever in the Hamptons enclave.)
In Washington state, a four-building compound—including a main residence designed by Richard Landry—is listed for $85 million, in Tony Hunts Point, outside Seattle.
And at the bottom of the list was Delaware, where a $4.85 million, four-bedroom home in Rehoboth is the priciest listing in the state. The home, which shares a 4.4-acre plot with a carriage house, and was built in 1993, has been on the market for 99 days.