Foreclosures in NYC reach rare heights, report says

  • In the second quarter of 2016, the first-time foreclosure auction rate increased 33 percent year-over-year and 31 percent over the previous quarter in New York City.
  • Brooklyn, Queens and the Bronx recorded the highest increases in foreclosure activity, with Queens seeing nearly half of the city's total of foreclosures.
  • Manhattan and Staten Island saw much less foreclosures, with only four new foreclosures Manhattan's 10019 ZIP code and 11 in Staten Island's South Island neighborhood.

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Foreclosures are rising in New York City, and the majority of them are being processed in Queens. According to Property Shark, first-time foreclosure auctions in NYC in the second quarter of 2016 surpassed levels seen in the past six years.