New NYC foreclosures climb 33% in 2014

Queens had the most – 617 – while Staten Island’s numbers nearly doubled: report

New York /
Jan.January 15, 2015 02:20 PM

UPDATED, 2:54 p.m., Dec. 15: First-time home foreclosures in New York City jumped 33 percent year-over-year to 1,560 in 2014, according to a new report from PropertyShark.

The number of new foreclosures climbed to a two-year high from 1,169 in 2013. Queens had the dubious distinction of being the borough with the most new foreclosure auctions, at 617, which is up 56 percent year-over-year from 395.

“Although foreclosures in Queens increased lately, they are still a lot lower compared to 2009, so it might be a bit early to see impact on home sales,” a spokesperson for PropertyShark told TRD.

In Manhattan, there was a slight 7 percent boost to 132 new foreclosures from 123.

The biggest surge in foreclosures occurred in Staten Island, where the number nearly doubled to 143 from 74. Meanwhile, the Bronx was the only borough to see a decline – a 4 percent fall to 326 from 341, PropertyShark data show.

The volume of pre-foreclosures went the opposite way. There were 11,061 overall, a 17 percent drop from 13,277 in 2013, data show.


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