New foreclosures up 60 percent in NYC

TRD New York /
Oct.October 01, 2008 06:21 PM

Foreclosures are still climbing in New York City with a 60 percent increase in filings compared to last year, led by a doubling in troubled mortgages in Queens, according to a report by PropertyShark.

There were 1,118 foreclosures in the five boroughs in the third quarter of 2008, compared to 961 in the prior quarter. In the third quarter a year ago, there were 695 foreclosures, the survey released late today shows.

Queens continued to lead the city in foreclosures, with 665, a 19 percent increase from the prior month’s tally of 558, and a 100 percent increase from the same period last year, when there were 333, the data showed.

Manhattan continued to be nearly free of foreclosures, with just 35 reported, and most of those were worked out pre-auction, the report said. One year ago there were 30.

In an indication that foreclosures may begin to slow in the city, the third quarter saw 4,633 pre-foreclosure filings, down 13 percent from the 5,344 recorded in the prior quarter and a decline from the period a year ago when there were 5,064.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Close to 100 employees were given notice on Monday morning (Credit: iStock)

Ten-X Commercial lays off nearly half its workforce

475 Park Avenue South (Credit: Google Maps)

Cohen Brothers Realty sues storied landlord to stay in Park Ave South building

Tracey Appelbaum (Photos by Emily Assiran)

At the desk of: Tracey Appelbaum

308 West 82nd Street and Real Capital Analytics founder Robert M. White Jr. (Credit: Google Maps)

Real Capital Analytics’ founder buys UWS building, leading last week’s I-sales

93 North 9th Street in Williamsburg, Thor Equities' Joe Sitt, and a KAWS statue (Credit: Google Maps and Jim Bowen via Flickr)

Acclaimed artist KAWS pays $17M to expand Williamsburg studio

arrow_forward_ios