New York City experienced a notable increase in foreclosure rates during the second quarter of 2025. Manhattan saw a 15% rise in foreclosure filings, with 8 defaults in the upscale 10022 ZIP code. The borough ranked highly despite its luxury status, indicating economic uncertainty. Brooklyn became the busiest foreclosure market with 129 first-time filings, a 36% increase from the previous year. The Bronx faced a 73% surge, reaching a five-year high. Staten Island experienced a 25% rise, recording 48 cases. Two-family homes significantly contributed to the total 408 foreclosures in the city during this period.
Manhattan saw a 15% rise in foreclosure filings, with 8 defaults in the upscale 10022 ZIP code. This indicates economic uncertainty even in wealthy neighborhoods.
Brooklyn surpassed Queens as the city's busiest foreclosure market, with 129 first-time filings, marking a 36% increase from the previous year.
The Bronx experienced a significant 73% surge in foreclosures, hitting a five-year high with 57 first-time filings in the second quarter of 2025.
Staten Island saw a 25% rise in foreclosure filings, recording 48 cases during the same period, making it the fourth-busiest foreclosure market in New York City.
Two-family homes drove the city's foreclosure activity, accounting for a third of the total 408 cases filed in New York City from April to June 2025.
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