{"id":43720,"date":"2024-07-03T15:12:39","date_gmt":"2024-07-03T12:12:39","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=43720"},"modified":"2025-05-13T11:55:42","modified_gmt":"2025-05-13T08:55:42","slug":"nyc-foreclosure-report-q2-2024","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/07\/03\/nyc-foreclosure-report-q2-2024\/","title":{"rendered":"Q2 2024 Foreclosure Report: Queens &amp; Brooklyn Claim 70% of City\u2019s Caseload"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Key Takeaways:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>NYC foreclosures remain flat year-over-year, tick up only 1%<\/strong><\/li>\n\n\n\n<li><strong>Single &amp; two-family homes account for 66% of cases, while condos represent only 13%<\/strong><\/li>\n\n\n\n<li><strong>Queens dominates NYC foreclosure market with 44% of citywide filings<\/strong><\/li>\n\n\n\n<li><strong>Brooklyn foreclosure activity hovers at one third of pre-COVID levels<\/strong><\/li>\n\n\n\n<li><strong>Manhattan still the only borough to return to pre-moratorium figures<\/strong><\/li>\n\n\n\n<li><strong>Staten Island first-time filings jump 46% year-over-year, still total just 38 new cases<\/strong><\/li>\n\n\n\n<li><strong>The Bronx settles into role as least active NYC foreclosure market<\/strong><\/li>\n\n\n\n<li><strong>Laurelton &amp; Brookville\u2019s 11413 zip remains NYC\u2019s foreclosures hotspot with 13 unique cases<\/strong><\/li>\n\n\n\n<li><strong>NYC pre-foreclosures rise 26% quarter-over-quarter, Queens drops dampen citywide gains<\/strong><\/li>\n<\/ul>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>While U.S. foreclosure cases trended down year-over-year, state-level foreclosure trends have varied widely. Overall, New York has been fairly muted, as opposed to neighboring New Jersey, which is contending with some of the highest rates in the country.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.propertyshark.com\/mason\/NY\/New-York-City\/Foreclosures\" target=\"_blank\" rel=\"noreferrer noopener\">NYC foreclosure market<\/a> has also been slow to recover after the foreclosure moratorium of previous years: <strong>Q2 2024 foreclosure levels are at just 53% of Q1 2020<\/strong> <strong>totals<\/strong> \u2014 the last quarter unaffected by COVID shutdowns. And, year-over-year, NYC foreclosures ticked up a near-negligible 1%.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_2fd53e3f-3abd-471b-b045-c619acc7b9e8\" title=\"Q2 2024 - NYC Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?KcT type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-27c9e8b27dcbeec44d467bc187560599\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">NYC foreclosure overview<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NYC_Foreclosures_Dominated_by_Single_Two-Family_Homes\"><\/span>NYC Foreclosures Dominated by Single &amp; Two-Family Homes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>NYC\u2019s foreclosure market continued its slower post-COVID pace in the second quarter of the year: The city totaled 366 <strong>first-time foreclosures,<\/strong> <strong>up a negligible 1% year-over-year<\/strong> (Y-o-Y), accounting for just five more cases than in the second quarter of last year. Additionally, after three consecutive quarters in which citywide cases surpassed 400 first-time filings, Q2 fell below that. In fact, <a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/04\/04\/nyc-foreclosure-report-q1-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">foreclosures were down 14% quarter-over-quarter<\/a> (Q-o-Q).<\/p>\n\n\n\n<p>Notably, of the city\u2019s 366 first-time foreclosures, 70% were located in Queens and Brooklyn. This concentration pattern also meant that <strong>two-thirds of the city\u2019s cases were single and two-family homes, <\/strong>whereas co-ops represented 21% and condos just 13%. Stemming from the same location pattern, the areas with the highest concentrations of foreclosures were also located in these two boroughs \u2014 13 first-time filings in zip 11413 in Queens and 12 new cases in Brooklyn\u2019s 11203. &nbsp;<\/p>\n\n\n\n<p>Foreclosed properties in Q2 2024 represented a familiar mix, with nearly identical figures compared to Q2 2023. <\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<iframe title=\"[ Insert title here ]\" aria-label=\"Interactive line chart\" id=\"datawrapper-chart-8yrHu\" src=https:\/\/datawrapper.dwcdn.net\/8yrHu\/4\/ scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"472\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n\n<\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-cfffab4415639c1fc95a53b7bd698ffc\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Queens foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Queens_Claims_44_of_NYC_Foreclosures_as_Filings_Increase_8_Y-o-Y\"><\/span>Queens Claims 44% of NYC Foreclosures as Filings Increase 8% Y-o-Y<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Historically, Queens has been the city\u2019s leading borough for foreclosures, mainly due to its property mix, which skews towards lower-density residential. That has remained true for the Queens foreclosure market in the post-moratorium era, as well: <strong>Queens claimed 44% of the city\u2019s entire foreclosure caseload in Q2 2024.<\/strong><\/p>\n\n\n\n<p>Furthermore, the 160 first-time foreclosures filed between April and June of this year also represented an 8% uptick compared to the same period last year. And, although cases were down 16% Q-o-Q, it must be noted that the first quarter\u2019s 191 foreclosures marked the most active quarter in four years.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_789876ec-d7ad-43f3-8f48-013a11772f3e\" title=\"Q2 2024 - Queens Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?cyC type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>On a similar note, the borough\u2019s (and city\u2019s) foreclosure epicenter was also more muted compared to Q1. Specifically, Q1 2024 saw 31 first-time foreclosures clustered in Queens\u2019 11377 zip code. By comparison, Q2 2024\u2019s highest concentration of first-time foreclosures \u2014 13 in total \u2014 was all the way across the borough in zip 11413, which mostly covers Laurelton and Brookville. &nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-a9c2f24f6505e98dff222d6a8e8b73e3\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Brooklyn foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Brooklyn_Foreclosure_Cluster_Holds_Steady_in_East_Flatbush\"><\/span>Brooklyn Foreclosure Cluster Holds Steady in East Flatbush<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>While Brooklyn foreclosures have also remained well below pre-moratorium levels, Brooklyn similarly returned to its customary spot behind Queens as the borough with the second-highest number of foreclosures, claiming 26% of the city\u2019s second quarter caseload. More precisely, <strong>the 95 first-time foreclosures logged in Brooklyn in Q2 2024 represented just 59% of the activity of Q1 2020<\/strong>. However, those 95 cases also market a slight 4% uptick in incidences over Q2 2023.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_735993d3-4c4e-4f1a-9b0d-9df7ffca931b\" title=\"Q2 - 2024 Brooklyn - Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?XNb type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>At the same time, cases dropped 27% Q-o-Q and, unlike in Queens, the first quarter of the year was not Brooklyn\u2019s post-moratorium peak. Rather, that was reached in Q4 2023 with 199 first-time filings. Meanwhile, in terms of foreclosure clusters, the borough maintained continuity: 11203 East Flatbush logged 12 cases compared to the previous quarter\u2019s 13.<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-0c476dd1807b569b2abd3e6f2b276918\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Manhattan foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Manhattan_Still_the_Only_Borough_to_Return_to_Pre-COVID_Activity_Levels\"><\/span>Manhattan Still the Only Borough to Return to Pre-COVID Activity Levels<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>While Queens and Brooklyn (along with the Bronx) saw foreclosures incidences trend up year-over-year, Manhattan and Staten Island went in the opposite direction with Manhattan foreclosures down 17% \u2014 a decrease of eight cases. Moreover, Manhattan trended the opposite way in its quarter-over-quarter evolution, as well, going up 18%, whereas Queens and Brooklyn trended down. As a result, Manhattan contributed only 11% of the city\u2019s second-quarter foreclosure total.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_75200465-d303-4a38-a5e6-b3cea53a3caf\" title=\"Q2 2024 - Manhattan - Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?pt9 type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>In perhaps a sign of the new normal, the 40 first-time foreclosures filed in the second quarter of the year were on par with pre-COVID figures. Even so,<strong> Manhattan remained the only borough to return to pre-2020 activity levels<\/strong>. Of the borough\u2019s 40 cases, five were clustered in zip 10003, covering parts of the East Village and Gramercy Park.<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-c138f2b70fbe9492921a1176e64784f2\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Staten Island foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Staten_Island_Marks_Sharpest_Y-o-Y_Foreclosure_Slowdown\"><\/span>Staten Island Marks Sharpest Y-o-Y Foreclosure Slowdown<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Similar to Manhattan \u2014 and in pronounced opposition to Queens, Brooklyn and the Bronx \u2014 Staten Island foreclosures were also down year-over-year. Specifically, Staten Island cases dropped 31% Y-o-Y \u2014 the sharpest decrease across the five boroughs. Notably though, that translated to just 17 fewer cases with the borough\u2019s second-quarter foreclosure total reaching a mere 38 first-time filings. Only the Bronx had a slower second quarter than Staten Island.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_eb902e33-6e9a-44f0-ad7a-796eccda79aa\" title=\"Q2 - 2024 Staten Island - Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?lEn type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>Staten Island was also in line with Manhattan\u2019s quarter-over-quarter evolution and in sharp contrast to the other three boroughs, with foreclosures jumping 46% Q-o-Q.&nbsp;At the same time, <strong>nearly one in five Staten Island foreclosures were clustered in one zip code<\/strong>, in Mid-Island\u2019s 10312.<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-1b5859a90768ea6b4ff17fbf5773b033\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Bronx foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Bronx_Remains_NYCs_Least_Active_Foreclosure_Market\"><\/span>The Bronx Remains NYC\u2019s Least Active Foreclosure Market<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Another <strong>new normal for NYC\u2019s foreclosure market seems to be the Bronx\u2019s trailing position in foreclosure activity<\/strong>. While Manhattan was the borough with the least active foreclosure sector before COVID, the Bronx has held that position consistently post-moratorium: Q1 2024 was the only exception as its 43 first-time filings surpassed Manhattan\u2019s 34.<\/p>\n\n\n\n<p>Then, in the second quarter of the year, foreclosure dynamics returned to post-moratorium equilibrium as the Bronx had 33 first-time foreclosures \u2014 the lowest figure among the five boroughs. Due to the previous quarter\u2019s temporarily inflated numbers, the borough 23% drop in activity looks larger than it truly was.<\/p>\n\n\n\n<div style=\"height:6px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<script id=\"infogram_0_7743ccfe-d5e1-42ea-b272-35c938306c5f\" title=\"Q2- 2024 Bronx - Foreclosures\" src=https:\/\/e.infogram.com\/js\/dist\/embed.js?Iu5 type=\"text\/javascript\"><\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>Finally, year-over-year figures were not affected by the unusually active first quarter, but they were inflated by the borough\u2019s low foreclosure rates. To be precise, the Bronx logged a 74% upsurge in foreclosure activity compared to the same period last year, but that still translated to an increase of just 14 cases Y-o-Y. All in all, the Bronx was the setting for just 9% of NYC\u2019s second-quarter foreclosures.<\/p>\n\n\n\n<p>Like Queens, though, the foreclosure epicenter for the Bronx moved across the borough from zip 10451 in the first quarter of the year to zip 10462 in the second. Here \u2014 in the zip that covers parts of Bronxdale, Parkchester and Van Nest \u2014 six first-time foreclosures were filed in Q2.<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-b1ae590c8d4ce06dad1ec3c2055cef00\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">NYC pre-foreclosures<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pre-Foreclosure_Filings_Climb_26_Q-o-Q_Citywide_Queens_Decrease_Dampens_Overall_Gains\"><\/span>Pre-Foreclosure Filings Climb 26% Q-o-Q Citywide, Queens Decrease Dampens Overall Gains<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There were 603 <a href=\"https:\/\/www.propertyshark.com\/mason\/NY\/New-York-City\/Pre-Foreclosures\" target=\"_blank\" rel=\"noreferrer noopener\">NYC pre-foreclosures<\/a> in the second quarter of the year, up 26% over the first three months. But at the borough level, trends were sharply divided: On one side stood Queens, where lis pendens dropped 55% Q-o-Q, totaling just 41 cases. On the other was the rest of the city with decidedly upwards trending pre-foreclosure numbers.<\/p>\n\n\n\n<iframe title=\"[ Insert title here ]\" aria-label=\"Grouped Columns\" id=\"datawrapper-chart-bVOWM\" src=https:\/\/datawrapper.dwcdn.net\/bVOWM\/2\/ scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"411\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n\n<\/script>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>Brooklyn remained the city\u2019s pre-foreclosure hotspot \u2014 a trend started in mid-2019 \u2014 and cases rose 27% Q-o-Q, reaching 356 filings, more than half of all NYC lis pendens. Additionally, Staten Island pre-foreclosures jumped 54% over Q1 figures to reach 134 cases. At the same time, Manhattan and the Bronx posted seemingly dizzying surges in pre-foreclosures at 478% and 82%, respectively.<\/p>\n\n\n\n<p>However, these growth rates actually represented small increases in the effective number of pre-foreclosures. Specifically, Manhattan\u2019s 478% upsurge translated to an increase from nine lis pendens in the first quarter of the year to 52 in the second quarter. Similarly, the Bronx logged 11 unique lis pendens filings in Q1 and just 20 in Q2 and remained the least active pre-foreclosure market in the city.<\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-deccef7697d8545ac4cad51d3aed2a72\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Top NYC auctions Q2 2024<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top_NYC_Auctions_Looking_Back\"><\/span>Top NYC Auctions: Looking Back<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>With the city\u2019s dampened foreclosure scene in Q2 2024 \u2014 at least compared to pre-COVID levels \u2014 <a href=\"https:\/\/www.propertyshark.com\/mason\/NY\/New-York-City\/Auction-Results\" target=\"_blank\" rel=\"noreferrer noopener\">NYC foreclosure auctions<\/a> have also stayed relatively modest, with <strong>no residential foreclosures sold for more than $5 million<\/strong>.<\/p>\n\n\n\n<p>The second quarter\u2019s most expensive foreclosure fetched just over $4.6 million in late June. The <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/155005308\/2073-57-St-Brooklyn-NY-11204\/\" target=\"_blank\" rel=\"noreferrer noopener\">2,050-square-foot condo<\/a> in Brooklyn\u2019s Borough Park is part of a small 3-unit free-standing building. The second-priciest foreclosure sold at the block in Q2 was another Brooklyn condo, this time a <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/244711\/14-E-21-St-Brooklyn-NY-11226\/\" target=\"_blank\" rel=\"noreferrer noopener\">2,995-square-foot unit<\/a> in a Flatbush brownstone.&nbsp; It was sold at auction in early April for just over $3.5 million. It was originally purchased for just over $1.15 million in April 2018. &nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Top 5 Most Expensive Residential Foreclosures Sold in Q2 2024<\/h4>\n\n\n\n<table id=\"tablepress-328\" class=\"tablepress tablepress-id-328\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Rank<\/strong><\/th><th class=\"column-2\"><strong>Borough<\/strong><\/th><th class=\"column-3\"><strong>Address<\/strong><\/th><th class=\"column-4\"><strong>Lien Ammount <\/strong><\/th><th class=\"column-5\"><strong>Auction Date<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/155005308\/2073-57-St-Brooklyn-NY-11204\/\" rel=\"noopener\" target=\"_blank\">2073 57th St. #1<\/a><\/td><td class=\"column-4\">$4,614,818 <\/td><td class=\"column-5\">6\/27\/2024<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/244711\/14-E-21-St-Brooklyn-NY-11226\/\" rel=\"noopener\" target=\"_blank\">14 E 21st St.<\/a><\/td><td class=\"column-4\">$3,512,710 <\/td><td class=\"column-5\">4\/11\/2024<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/107476530\/76-Laight-St-New-York-NY-10013\/\" rel=\"noopener\" target=\"_blank\">76 Laight St. #5<\/a><\/td><td class=\"column-4\">$3,000,000 <\/td><td class=\"column-5\">6\/4\/2024<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/45418118\/209-E-2-St-New-York-NY-10009\/\" rel=\"noopener\" target=\"_blank\">15 Ave. B #7<\/a><\/td><td class=\"column-4\">$2,904,537 <\/td><td class=\"column-5\">6\/12\/2024<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Queens<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/616416\/118-49-Farmers-Blvd-Queens-NY-11412\/\" rel=\"noopener\" target=\"_blank\">118-49 Farmers Blvd.<\/a><\/td><td class=\"column-4\">$2,438,257 <\/td><td class=\"column-5\">4\/4\/2024<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/213667\/33-Hale-Ave-Brooklyn-NY-11208\/\" rel=\"noopener\" target=\"_blank\">33 Hale Ave.<\/a><\/td><td class=\"column-4\">$2,438,257 <\/td><td class=\"column-5\">4\/4\/2024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-328 from cache -->\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Second quarter figures for commercial foreclosures were nearly halved compared to last year<\/strong>, with 46% fewer cases than during Q2 2023. In fact, commercial foreclosures were down 46% Q-o-Q as well, with only 16 first-time commercial filings.<\/p>\n\n\n\n<p>Of these, the most expensive foreclosure sale was the $344 million retail portion of <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/117128476\/229-W-43-St-New-York-NY-10036\/\" target=\"_blank\" rel=\"noreferrer noopener\">229 West 43 St.<\/a> Formerly owned by Kushner Companies, the Times Square Building\u2019s retail component was auctioned off in late May. The quarter\u2019s second-priciest commercial auction targeted the 150,000-square-foot <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/935467\/635-Madison-Ave-New-York-NY-10022\/\" target=\"_blank\" rel=\"noreferrer noopener\">635 Madison Ave.<\/a> office building, with the Lenox Hill property selling for just $99.76 million in mid-May.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Top 5 Most Expensive Commercial Foreclosures Sold in Q2 2024<\/h4>\n\n\n\n<table id=\"tablepress-330\" class=\"tablepress tablepress-id-330\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Rank<\/strong><\/th><th class=\"column-2\"><strong>Borough<\/strong><\/th><th class=\"column-3\"><strong>Address<\/strong><\/th><th class=\"column-4\"><strong>Lien Ammount <\/strong><\/th><th class=\"column-5\"><strong>Auction Date<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/117128476\/229-W-43-St-New-York-NY-10036\/\" rel=\"noopener\" target=\"_blank\">229 West 43rd St. #RU<\/a><\/td><td class=\"column-4\">$344,079,072 <\/td><td class=\"column-5\">5\/29\/2024<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/935467\/635-Madison-Ave-New-York-NY-10022\/\" rel=\"noopener\" target=\"_blank\">635 Madison Ave.<\/a><\/td><td class=\"column-4\">$99,758,265 <\/td><td class=\"column-5\">5\/15\/2024<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/310529\/1630-E-15-St-Brooklyn-NY-11229\/\" rel=\"noopener\" target=\"_blank\">1630 East 15th St.<\/a><\/td><td class=\"column-4\">$66,865,796 <\/td><td class=\"column-5\">6\/27\/2024<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/45287742\/1-Hanson-Pl-Brooklyn-NY-11217\/\" rel=\"noopener\" target=\"_blank\">1 Hanson Pl.  #RETL<\/a><\/td><td class=\"column-4\">$23,832,503 <\/td><td class=\"column-5\">5\/29\/2024<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/11005\/241-W-14-St-New-York-NY-10011\/\" rel=\"noopener\" target=\"_blank\">241 W 14th St.<\/a><\/td><td class=\"column-4\">$13,706,921 <\/td><td class=\"column-5\">6\/12\/2024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-330 from cache -->\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h5 class=\"wp-block-heading toch has-fl-accent-color has-text-color has-link-color wp-elements-2300533f0322e95f82bf24500c67605a\" style=\"font-size:16px;font-style:normal;font-weight:700;text-transform:uppercase\">Top upcoming NYC auctions Q3 2024<\/h5>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top_NYC_Auctions_Looking_Ahead\"><\/span>Top NYC Auctions: Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Looking ahead the city\u2019s priciest foreclosed residential properties headed to the block, the highest lien amount \u2014 $5.63 million \u2014 is associated with a 2,550-square-foot, 3-bedroom, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/28495782\/240-Riverside-Blvd-New-York-NY-10069\/\" target=\"_blank\" rel=\"noreferrer noopener\">3.5-bedroom condo<\/a> at The Heritage at Trump Place had been under the same ownership since mid-2006. The second-highest lien is tied to a 3,200-square-foot condo at <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/38935960\/200-Chambers-St-New-York-NY-10007\/\" target=\"_blank\" rel=\"noreferrer noopener\">200 Chambers St.<\/a>, headed to the block in mid-July with a $4.9 million lien.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Top 5 Most Expensive Residential Foreclosures Scheduled for Auction in Q3 2024<\/h4>\n\n\n\n<table id=\"tablepress-329\" class=\"tablepress tablepress-id-329\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Rank<\/strong><\/th><th class=\"column-2\"><strong>Borough<\/strong><\/th><th class=\"column-3\"><strong>Address<\/strong><\/th><th class=\"column-4\"><strong>Lien Ammount <\/strong><\/th><th class=\"column-5\"><strong>Occurrence<\/strong><\/th><th class=\"column-6\"><strong>Auction Date<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=28495782\" rel=\"noopener\" target=\"_blank\">240 Riverside Blvd. #10A-T<\/a><\/td><td class=\"column-4\">$5,673,293 <\/td><td class=\"column-5\">rescheduled<\/td><td class=\"column-6\">7\/10\/2024<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/38935960\/200-Chambers-St-New-York-NY-10007\/\" rel=\"noopener\" target=\"_blank\">200 Chambers St. #26C<\/a><\/td><td class=\"column-4\">$4,900,532 <\/td><td class=\"column-5\">rescheduled<\/td><td class=\"column-6\">7\/17\/2024<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/181169\/26-St-Felix-St-Brooklyn-NY-11217\/\" rel=\"noopener\" target=\"_blank\">26 Street Felix St.<\/a><\/td><td class=\"column-4\">$3,205,073 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/25\/2024<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Staten Island<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/823538\/41-Romer-Rd-Staten-Island-NY-10304\/\" rel=\"noopener\" target=\"_blank\">41 Romer Rd. <\/a><\/td><td class=\"column-4\">$2,307,636 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/25\/2024<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/125993\/154-Huntington-St-Brooklyn-NY-11231\/\" rel=\"noopener\" target=\"_blank\">154 Huntington St.<\/a><\/td><td class=\"column-4\">$2,044,801 <\/td><td class=\"column-5\">rescheduled<\/td><td class=\"column-6\">7\/18\/2024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-329 from cache -->\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>On the commercial side of foreclosure auctions, the two properties with the highest liens will also hit the block in mid-July and include a <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/9692\/446-W-14-St-New-York-NY-10014\/\" target=\"_blank\" rel=\"noreferrer noopener\">15,000-square-foot property<\/a> in the Meatpacking District with a $24.68 million lien. The next-highest lien ($10.7 million) is tied to a <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/1734\/440-Broadway-New-York-NY-10013\/\" target=\"_blank\" rel=\"noreferrer noopener\">two-story retail asset<\/a> in SoHo which was originally purchased for $12 million in January 2008.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Top 5 Most Expensive Commercial Foreclosures Scheduled for Auction in Q3 2024<\/h4>\n\n\n\n<table id=\"tablepress-331\" class=\"tablepress tablepress-id-331\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Rank<\/strong><\/th><th class=\"column-2\"><strong>Borough<\/strong><\/th><th class=\"column-3\"><strong>Address<\/strong><\/th><th class=\"column-4\"><strong>Lien Ammount <\/strong><\/th><th class=\"column-5\"><strong>Occurrence<\/strong><\/th><th class=\"column-6\"><strong>Auction Date<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/9692\/446-W-14-St-New-York-NY-10014\/\" rel=\"noopener\" target=\"_blank\">446 W 14th St.<\/a><\/td><td class=\"column-4\">$24,676,284 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/17\/2024<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/1734\/440-Broadway-New-York-NY-10013\/\" rel=\"noopener\" target=\"_blank\">440 Broadway<\/a><\/td><td class=\"column-4\">$10,735,729 <\/td><td class=\"column-5\">resqueduled<\/td><td class=\"column-6\">7\/17\/2024<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Queens<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/968777\/10-71-Cypress-Ave-Queens-NY-11385\/\" rel=\"noopener\" target=\"_blank\">10-71 Cypress Ave.<\/a><\/td><td class=\"column-4\">$9,777,061 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">8\/2\/2024<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Manhattan<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/11138\/154-8-Ave-New-York-NY-10011\/\" rel=\"noopener\" target=\"_blank\">154 Eighth Ave.<\/a><\/td><td class=\"column-4\">$8,462,096 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/17\/2024<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/196330\/181-Troutman-St-Brooklyn-NY-11206\/\" rel=\"noopener\" target=\"_blank\">181 Troutman St.<\/a><\/td><td class=\"column-4\">$7,225,996 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/25\/2024<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Brooklyn<\/td><td class=\"column-3\"><a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/198298\/303-Stockholm-St-Brooklyn-NY-11237\/\" rel=\"noopener\" target=\"_blank\">303 Stockholm St.<\/a><\/td><td class=\"column-4\">$7,225,996 <\/td><td class=\"column-5\">first-time<\/td><td class=\"column-6\">7\/25\/2024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-331 from cache -->\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Methodology\"><\/span>Methodology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Having tracked foreclosure listings for more than a decade, PropertyShark is the only service in New York that guarantees 100% coverage of the local foreclosure market. Because auctions are frequently postponed and\/or rescheduled, the statistics referenced in this foreclosure report include only first-time foreclosures in order to avoid over-reporting the number of distressed properties in the city.<\/p>\n\n\n\n<p>This report focuses exclusively on residential properties (single and two-family homes; condos; and co-op units) that were scheduled for auction for the first time in Q2 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NYC foreclosures remained flat in Q2, up just 1% Y-o-Y, with Queens accounting for 44% of all cases, while the Bronx had just 33 cases.<\/p>\n","protected":false},"author":49,"featured_media":43662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[389,380,381,283,328,382,390],"tags":[11181,11171,7],"class_list":["post-43720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bronx-real-estate","category-brooklyn-foreclosures","category-manhattan-foreclosures","category-new-york-foreclosures","category-new-york-real-estate","category-queens-foreclosures","category-staten-island-real-estate","tag-old-foreclosure","tag-old-study","tag-residential-sales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2024 Q2 NYC Foreclosure Report | PropertyShark<\/title>\n<meta name=\"description\" content=\"NYC foreclosures remained flat in Q2, up just 1% Y-o-Y, with Queens accounting for 44% of all cases, while the Bronx had just 33 cases.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/07\/03\/nyc-foreclosure-report-q2-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q2 2024 Foreclosure Report: Queens &amp; Brooklyn Claim 70% of City\u2019s Caseload\" \/>\n<meta property=\"og:description\" content=\"NYC foreclosures remained flat in Q2, up just 1% Y-o-Y, with Queens accounting for 44% of all cases, while the Bronx had just 33 cases.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/07\/03\/nyc-foreclosure-report-q2-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-03T12:12:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-13T08:55:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/NYC-foreclosure-report-Q2-2024.png?w=1920\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eliza Theiss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"2024 Q2 NYC Foreclosure Report | PropertyShark","description":"NYC foreclosures remained flat in Q2, up just 1% Y-o-Y, with Queens accounting for 44% of all cases, while the Bronx had just 33 cases.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/07\/03\/nyc-foreclosure-report-q2-2024\/","og_locale":"en_US","og_type":"article","og_title":"Q2 2024 Foreclosure Report: Queens &amp; 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