New foreclosures up 60 percent in NYC

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
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
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
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
The founders aim to make a modern day "Renaissance Florence". (Getty / Illustration by Alison Bushor)
Futurists aim to build semi-autonomous city without “dumb regulations”
Futurists aim to build semi-autonomous city without “dumb regulations”
The home that Wes Anderson rented to film "The Royal Tenenbaums" is available to rent. (Compass)
Harlem townhouse of “The Royal Tenenbaums” fame now $20K rental
Harlem townhouse of “The Royal Tenenbaums” fame now $20K rental
The parcel of land in Causeway Bay (Google Maps)
Hong Kong sells Causeway Bay site for $2.5B
Hong Kong sells Causeway Bay site for $2.5B
(Beverly Hills Estates)
Another massive property outside LA lists for $75M
Another massive property outside LA lists for $75M
Lachlan Murdoch and the home on Sydney Harbor (Getty, Private Property Global)
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...