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Foreclosure filings for home loans in New York City increased in 2025, climbing 8 percent year over year.
That works out to nearly 1,600 first-time filings, according to a report from PropertyShark. However, that is still below 2023, when new filings hit 1,619. That was the most active year for filings after the pandemic, the listings and research firm found.
The trend is mirrored nationally amid persistent inflation, elevated interest rates and generally higher housing costs.
The Bronx recorded the steepest growth in filings, 35 percent. However, the borough’s 194 total filings was lower than pre-pandemic levels.
Manhattan followed the Bronx, in terms of yearly growth in new foreclosure filings, with an increase of 28 percent. Manhattan’s total came in at 208, which was the highest since at least 2010, when PropertyShark started recording these metrics.
Staten Island recorded the fewest new filings among the five boroughs, adding just three filings in 2025 to its total count compared to the year before.
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For the third year in a row, two-family homes were the No. 1 property type for foreclosure filings in the Big Apple. The sector recorded 540 new foreclosure filings in 2025 — a 12 percent year-over-year increase.
However, co-ops saw their number of new filings rise by at the greatest annual rate, by 29 percent. Condos were the only housing type that saw filings drop year over year, by 24 percent.
In the fourth quarter of last year, data from real estate firm Attom revealed that 1.63 percent of the Big Apple’s residential mortgages were considered “seriously underwater,” meaning those mortgages had loan-to-value ratios at or above 125 percent. That was a slight uptick from the year before, but about half the national rate of 3 percent.
Flatbush was among the city’s pockets with the greatest share of troubled mortgages. Brooklyn in particular is the most unaffordable housing market in the country. In the third quarter of 2025, Brooklyn homebuyers had to spend 113 percent of their salaries to pay for the costs of buying and owning a typical property there.