Foreclosures in NYC reach rare heights, report says

Property Shark's NYC foreclosure data for the second quarter of 2016 shows troubling stats for Queens
  • 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.

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.