HPD Commissioner Wambua
New York University’s Furman Center of Real Estate and Urban Policy has compiled the first known comprehensive database of the city’s affordable housing stock that links the units to the agencies that subsidize them. The Wall Street Journal reported that it is available on the Furman website beginning today.

By highlighting the origin of affordable housing subsidies, across the city, state and federal agencies that contributed data, the database provides a clearer picture of when the funding expires and the units can be converted to market rate. [more]

Some 44 percent of New Yorkers live in rented properties with five or
more units, according to the State of New York City’s 2010 Housing and
Neighborhoods report, released by NYU’s Furman Center for Real Estate
and Urban Policy today. The report indicates that more than 44,000 New York City households have been impacted by foreclosed multifamily
rental properties. “Renters in multi-family rental buildings
experience uncertainty or deteriorating living conditions when the
property they inhabit faces foreclosure,” the report said. Overall,
the number of foreclosures in New York City declined 15.9 percent to 16,911 between 2009 and 2010. TRD Comments

• Tweet

From the January issue: From working-class enclaves in the outer boroughs to glistening new
condo towers in Manhattan, the legions of New Yorkers at risk of losing
their homes has been growing. While the number of foreclosure filings in the state dropped during
the first three quarters of last year compared to the same time in
2008, the filings jumped 14 percent in New York City, according to
RealtyTrac. And no borough — including Manhattan — was spared.
This month, The Real Deal examined foreclosure data provided
by PropertyShark, RealtyTrac and NYU’s Furman Center and found that
across the board — from houses on cul-de-sac streets in Staten Island
to tony co-op apartments on the Upper West Side — foreclosures in the
five boroughs have quietly started creeping into more well-to-do
neighborhoods. While the level of distress in many of these higher-end
neighborhoods still pales in comparison to foreclosure epicenters like
East New York, Jamaica and Ozone Park, it is clearly on the rise.
Comments

• Tweet

Sam Heskel, founder of HMS Associates, who predicts a rise in foreclosures on high-end apartments

From the December issue: While green shoots may have sprouted in some sectors of the New York City residential market, there are plenty of other areas where that is far from the case. Foreclosures continue to ravage neighborhoods throughout the outer boroughs — most notably southern Queens and parts of Brooklyn — and more distress is quietly creeping into the Manhattan residential market. In this month’s Q & A, appraisers, analysts and brokers who follow foreclosures told The Real Deal that while certain areas of the city are starting to level off when it comes to foreclosures, in others it’s difficult to even find a “regular” nondistressed sale. One expert from New York University’s Furman Center said that the third quarter of 2009 saw 6,000 foreclosure filings in the city — the largest number since the research center started tracking quarterly data in the early 1990s. And worrisome trends are on the horizon.