New York City had a double increase in foreclosure levels this spring, with mortgage defaults affecting even some of Manhattan’s most prestigious codes-Zip-general Borough did not lead to home seizures.
The New York City’s overall rate increased 11% in the second quarter of 2025, covering the April-June months, compared to a year of action, according to the latest Foreclosure report by Prpertyshark.com.
Home for 1,628,000 people, Borough of Manhattan experienced 46 new foreclosure recordings this spring, representing a 15% increase year by year.
Eight of the pre-election focused on the 10022 zip high-priced code, which includes part of Park Avenue-Famous for its luxury homes, rich shops and landscape flower beds.
According to the latest data available from Realtor.com®, the average list of the list of ZIP 10022 was $ 1.3 million in June, making it one of the most valuable areas in the Big Apple – but even this high concentration of property offers no property guarantee.
“Increasing interest rates, wider economic concern and ending of [COVID-19] The defenses of the Pandemia era against foreclosure can affect the foreclosure trends, even in historically rich areas such as ZIP 10022, “says senior economic research analyst.com Hannah Jones. Today’s wider economic insecurity.”
Jones points out that
Another important thing to mention is that Midtown Manhattan has long been a magnet for real estate investors, and according to Jones, the growth of the foreclosure may signal that the demand has been softened for high level rents.
Brooklyn overcomes queens for most forecloses
In Q2 2025, Brooklyn gained the suspicious distinction of the Queen of Fraud as the largest Foreclosure of New York City, with 129 registrations for the first time from April to June-a 36% increase from one year.
Overcoming Queens, Brooklyn now has the hot point of the city of Foreclosure, identified as the ZIP 11236 Code covering the Canarsie and East Flatbush neighborhoods, which recorded 17 new cases.
Meanwhile, Queens recorded 128 foreclosure during the second quarter, down 20% year by year.
Bronx foreclosure was hit five-year-old
In the Bronx, foreclosure increased a stunning 73% on an annual basis, increasing from 33 records for the first time in the spring 2024 in 57 this year. Borough has surpassed her five-year-old Foreclosure record that he responded in early 2025.
Staten Island saw 48 foreclosure recordings this spring, with 25% from the same period a year, making it the fourth Big Apple market.
As mentioned earlier, Manhattan recorded only 46 new cases in Q2, strengthening municipality status as the least active municipality of New York City for property reposions.
Two-family houses directed the overall activity of the city’s foreclosure, constituting a third of 408 cases presented throughout the New York City from April to June.
Moreover, two-family houses saw the sharpest rise in registrations, growing 25% from year to year, as foreclosure with a single family decreased 2%.
#Forecloses #climb #big #city #elite #chain #codes #frugal
Image Source : nypost.com