PropertyShark.com News Releases

New York City’s Commercial Real Estate Market Up 32% in 2011

Catalin — Fri, 27 Jan 2012 09:42:45 +0000

New York City’s commercial real estate market continues its upward trend in 2011, growing by 32% over 2011 and by a whopping 193% over its recessionary low-point in 2009. In real terms, the commercial sector amounted to $24 billion in sales, a four-year best.

Even though sales were consistent throughout the whole year, the peak was in Q3 of 2011, when transactions amounted to $9.37 billion. This total hadn’t been reached in a single quarter since 2007.

Large transactions of $5M or more were the main contributors to the revitalization of the commercial sector. They accounted for $20.8 billion or 86% of all commercial sales in New York City. The top 10 biggest commercial transactions amounted to $5.76 billion, which brought the Y-o-Y increase to 35% over 2010 and to 245% over 2009 for the $5M and up sector.

The median sale price for the $5M and up segment also reached a 7-year high at $11,719,595. This represents a 24% increase over 2010 and a 19% increase over 2007 (the market was at its peak in 2007, with close to $45 billion in total sales).

More than half of NYC’s commercial real estate market volume is represented by office building sales. In 2011, the office market recorded $13.4 billion in sales, a 38% Y-o-Y increase. It clearly outperformed the multifamily sector which, with $6.9 billion in sales, witnessed a 14% Y-o-Y increase.

Browse through current multifamily commercial properties for sale.

October 2011 Is the Fifth Consecutive Month in Which the Number of Foreclosures in New York City Declines

Catalin — Tue, 22 Nov 2011 15:49:53 +0000

We just released our monthly report that covers newly scheduled foreclosures for October 2011 in New York City. Here are the key takeaways:

The number of new foreclosure auctions was 6% lower in October 2011 compared to September 2011. If we compare October 2011 with the same month last year, the number is significantly lower, representing a 76% drop.
In the Bronx, the number of first-time foreclosures was 46% lower than in September 2011. In Brooklyn, the decrease was 27% and in Queens it was 11%. However, the number of first-time foreclosures in Manhattan increased by 22%.
The bulk of first-time foreclosures in New York City was represented by co-op foreclosures, which were 48% of the total number. However, they declined 43% compared to October 2010.

Browse current New York City foreclosures or foreclosure listings in New York State.

Q3 2011 Brings a New 2-Year Low in the Number of First-Time Foreclosures in New York City

Catalin — Thu, 13 Oct 2011 12:39:53 +0000

The third quarter of 2011 saw a 69% decrease in the number of foreclosure auctions compared to the same quarter of 2010 and a 33% decrease compared to the second quarter of 2011.

We just released our quarterly report that covers New York’s first-time residential foreclosures. Here are our most important findings:

• There were 207 first-time foreclosure auctions in New York City in the third quarter of 2011. This translates into a 69% decrease compared to the same quarter of 2010, when there were 659 first-time foreclosure auctions. Compared to the second quarter in 2011 (311), it is a 33% decrease.
• The only borough where the number of first-time foreclosure auctions actually increased compared to last year is Manhattan. This number in Manhattan is 41, up 14% from Q3 2010, but down 45% from Q2 2011.
• Staten Island has the biggest decrease compared to Q3 2010 (85%).
• The numbers in Queens paint almost the same picture as in Staten Island: a 79% decrease compared to Q3 2010 and a 28% decrease compared to Q2 2011.
• There were 31 first-time foreclosure auctions in Q3 2011 in Brooklyn. This is a 61% decrease compared to Q3 2010 and a 45% decrease from the previous quarter in 2011.
• Finally, the numbers for the Bronx reveal a 36% decrease from Q3 2010 and a 26% decrease from Q2 2011.

Browse current New York foreclosures or foreclosure listings in New Jersey.

Foreclosure Auctions in New York City Down 70% Compared to August 2010; Foreclosures in Queens and Stated Island Down by 80%

Catalin — Wed, 21 Sep 2011 08:37:40 +0000

August 2011 experienced a 70% decrease in the number of foreclosure auctions scheduled in NYC compared to the same month last year. This trend is also highlighted by the 7% decrease from July to August 2011.

We just released our monthly report that covers first-time residential foreclosures in New York City. Here are our most important findings:

• The number of foreclosure auctions went down 70% in August 2011 compared to August 2010, from 228 to 69. Compared to July 2011, the number went down from 74 to 66 (7%).
• The trend is highlighted by the number of foreclosure auctions in Queens and Staten Island as well. Compared to the same month last year, the number in the two boroughs is 80% lower. In Brooklyn the number is 40% lower and in Bronx it remained the same.
• Lis pendens filings decreased from 1,490 in August 2010 to 981 in August 2011, a 34% decrease. Compared to July 2011, when there were 1,027 filings, the number is 4% lower.

To browse current foreclosure listings in New York or New Jersey, go to: http://www.propertyshark.com/mason/Foreclosures/

PropertyShark Expands Its Coverage

Catalin — Tue, 19 Jul 2011 10:10:29 +0000

PropertyShark expands its coverage in 12 new counties from 6 states. These counties are:
•   Illinois: Stephenson County;
•   Maryland: Carroll County;
•   Ohio: Athens County and Richland County;
•   Pennsylvania: Bucks County, Crawford County, Franklin County and Wayne County;
•   Texas: Van Zandt County, Walker County and Wise County;
•   Washington: Pierce County.

The data includes:
•   Ownership, demographics, environmental and property tax information in all counties;
•   Sales history in Stephenson, Carroll, Athens, Richland, Bucks, Crawford, Van Zandt and Pierce counties;
•   Building information in Carroll, Athens, Richland, Wayne, Van Zandt, Walker and Pierce counties;
•   Land information in Carroll, Athens, Richland, Walker and Pierce counties;
•   Permits in Richland County;

The biggest cities covered in the new counties are: Tacoma (Pierce County, WA), Chambersburg (Franklin County, PA), Mansfield (Richland County, OH), Bensalem (Bucks County, PA), Freeport (Stephenson county, IL), Huntsville (Walker County, TX) and Eldersburg (Carroll County, MD).

Other updates include revised reports for all 56 counties in New York.

Coop foreclosures in New York City reach a two-year peak in May 2011

Adriana — Mon, 18 Jul 2011 14:41:33 +0000

In May 2011 the number of coop units scheduled for auction In New York City reached its highest value in 2 years.

PropertyShark.com, the premier real estate research site, released its monthly report covering first-time residential New York City foreclosures for May 2011.

Key Report Findings

In May 2011 the number of coop units scheduled for auction reached its highest value in 2 years. Coop foreclosures have increased from 6 in May 2010 to 90 in April 2011.
Despite the increase in coop foreclosures, the overall number of first time residential foreclosures auctions in New York City (114) saw a 38% decrease in May 2011 compared to May 2010 (185), and a 23% increase from April 2011 (93).
With 32 first time foreclosures, Manhattan registered a two-year record in May 2011. The current number is 10 times higher than in May 2010 (3 foreclosures) and is 33% higher than in April 2011.
Compared to April 2011, newly scheduled auctions were up 75% in Brooklyn and up 38% in Queens. Bronx foreclosures were down 42% and Staten Island foreclosures down 25% over the same time period.
Pre-foreclosures in New York City were down 24% compared to May 2010 and increased 10% from April 2011.

To browse current foreclosure listings in New York or New Jersey, go to: http://propertyshark.com/mason/Foreclosures/

PropertyShark.com aggregates real estate data from hundreds of public and proprietary sources into an easy-to-use yet comprehensive property research website covering two dozen major markets. Site visitors can view detailed property reports for almost every residential or commercial property, scan recent sales comparables of similar properties to determine market values, browse foreclosure listings, and much more.

About PropertyShark
A wholly-owned subsidiary of Yardi Systems Inc, PropertyShark.com offers the information essential to evaluate real estate and make informed decisions. PropertyShark.com, which was named one of TIME.com’s “Top 50 Websites of 2009″, provides real estate professionals, investors and home buyers with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, for sale and for lease listings, foreclosures and pre-foreclosures, mailing lists, photos, and more. PropertyShark.com was founded by Matthew Haines in 2003. For more information or a free basic account, visit www.PropertyShark.com.

New York City Foreclosures Down 12% from March 2011; Brooklyn Foreclosures Decreased by 54% While Manhattan Foreclosures Increased 4%

Adriana — Mon, 18 Jul 2011 14:41:23 +0000

The number of new scheduled NYC foreclosure auctions was down 65% in April 2011 compared to April 2010, and was down 12% from March 2011.

PropertyShark.com, the premier real estate research site, released its monthly report covering first-time residential New York City foreclosures for April 2011.

Key Report Findings

The number of new scheduled foreclosure auctions in NYC (93) registered a 65% decrease in April 2011 compared to April 2010 (265), and a 12% decrease compared to March 2011 (106).
Compared to March 2011, Brooklyn foreclosures were down 54% and the number of new Staten Island foreclosures decreased 20%. Manhattan foreclosures were up 4%, Queens saw a 3% increase (34) and the number of new scheduled foreclosures remained level in the Bronx (19).
The number of properties that received at least one lis pendens filing in April 2011 (981) saw a 23% decrease compared to April 2010 (1,271) and a slight decrease of 1% compared to March 2011 (988).

To browse current foreclosure listings in New York or New Jersey, go to: http://propertyshark.com/mason/Foreclosures/

New York City Foreclosures Down 47% from Q4 2010; Queens foreclosures decreased by 61% while Manhattan foreclosures increased 46%

Adriana — Mon, 18 Jul 2011 14:41:09 +0000

The number of new scheduled NYC foreclosure auctions was down 67% in Q1 2011 compared to Q1 2010, and was down 47% from Q4 2010.

New York, NY, April 13, 2011 — PropertyShark.com, the premier real estate research site, today released its quarterly report covering first-time residential New York City foreclosures for Q1 2011.

Key Report Findings

The number of new scheduled foreclosure auctions in New York City (256) saw a 67% decrease in Q1 2011 compared to Q1 2010 (767), and a 47% decrease from Q4 2010 (487).
Compared to Q4 2010, Staten Island foreclosures were down 68%, Queens foreclosures decreased 61%, scheduled foreclosures in Brooklyn were down 41% and Bronx foreclosures were down 31%. Manhattan was the only borough that saw an increase in the number of new scheduled foreclosures: 46% more than in Q4 2010.
Pre-foreclosures in NYC were down 30% compared to Q1 2010 and down 4% from Q4 2010.

To browse current foreclosure listings in New York or New Jersey, go to: http://propertyshark.com/mason/Foreclosures/

New York City Foreclosure Listings in February 2011 Down 82% from February 2010 Levels

Adriana — Mon, 18 Jul 2011 14:40:56 +0000

The number of new scheduled NYC foreclosure auctions was down 82% in February 2011 compared to February 2010, and was down 59% from January 2011.

New York, NY, March 21, 2011 — PropertyShark.com, the premier real estate research site, today released its monthly report covering first-time residential New York City foreclosures for February 2011.

Key Report Findings

New scheduled foreclosures in NYC were down a significant 82% in February 2011 over February 2010 and were down 59% over January 2011.
Compared to the February 2010 level, the number of foreclosures scheduled for the first time was down 91% in Queens and Staten Island, 69% in the Bronx, 67% in Brooklyn, and 52% in Manhattan.
Pre-foreclosures in NYC were down 14% compared to February 2010 and down 6% from January 2011

To browse current foreclosure listings in New York or New Jersey, go to: http://propertyshark.com/mason/Foreclosures/

New York City Foreclosure Listings in January 2011 Down 59% from January 2010 Levels

Adriana — Mon, 18 Jul 2011 14:40:34 +0000

The number of new scheduled NYC foreclosure auctions was down 59% in January 2011 compared to January 2010, and was down 4% from December 2010.

New York, NY, February 16, 2010 — PropertyShark.com, the premier real estate research site, today released its monthly report covering first-time residential New York City foreclosures for January 2011.

Key Report Findings

The number of new scheduled NYC foreclosure auctions (106) was down 59% in January 2011 compared to January 2010 (258), and was down 4% from December 2010 (110).
Compared to December 2010, the number of new Manhattan foreclosures (8) was up 60% while in the Bronx (21) the number was up 62%. Brooklyn foreclosures remained level (17) while Queens foreclosures (48) decreased 21% and Staten Island foreclosures (12) were down 14%.
Compared to January 2010, the number of foreclosures was down 64% in Manhattan and Queens, 60% in Brooklyn, and 69% in Staten Island, while they remained at the same level in the Bronx.

To browse current foreclosure listings in New York or New Jersey, go to: http://propertyshark.com/mason/Foreclosures/