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

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

Browse current foreclosure listings in New York City. 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.

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