The Real Deal New York

Foreclosures soar by 145% in the Bronx

A weekly feature bringing you the industry’s latest intel
By Chava Gourarie | October 11, 2017 06:30PM

(Credit: Ideal Properties Group)

According to this week’s market reports, foreclosures are up in all five boroughs, and net absorption in Manhattan’s office market was down for the third consecutive quarter.

Residential

Brooklyn residential report | Brown Harris Stevens
Townhouse prices in Brooklyn rose 16 percent in the third quarter year-over-year, while apartment prices grew 2 percent, and condo price-per-square-foot increased 13 percent. Read the full report here.

Brownstone Brooklyn | Ideal Properties Group
In the third quarter, the median price for residential property in Brownstone and North Brooklyn rose to $1.3 million, a 14.3 percent year-over-year increase. Read the full report here.

Queens residential report | Modern Spaces
Closed condo sales in Long Island City averaged $1 million in the third quarter, and in contract prices averages $1.2 million. In Astoria and Flushing, closed sales averaged $809,665 and $790,417 respectively. Read the full report here.

Luxury sales | Olshan Realty
Twenty contracts were signed last week at $4 million and above, five of which crossed the $10 million mark, putting the total asking price at $215 million. Read the full report here.

Priciest neighborhoods | PropertyShark
The Flatiron District was the priciest neighborhood in New York in the third quarter, with the median price growing 220 percent year-over-year to $4.4 million. Read the full report here.

Foreclosure report | PropertyShark
Foreclosures in the five boroughs were up 79 percent year-over-year in the third quarter, led by a 145 percent increase in the Bronx. Read the full report here.

Commercial

Manhattan office | ABS Partners Real Estate
Net absorption in the Manhattan office market was negative in the third quarter for the third consecutive quarter, coming in at -1.7 million square feet. Read the full report here.