In accordance with the latest report released by the real estate data agency PropertyShark, the number of foreclosure cases in New York City increased by 8% in 2025, with a total of 1,588 residential units applying for foreclosure for the first time throughout the year. The data shows that while the overall volume of cases is rising, there is a clear differentiation in trends among the boroughs, presenting a pattern of “partial warming and partial slowing down.”
Among the five major boroughs, Manhattan saw a total of 208 residential foreclosure cases throughout the year, reaching the highest record in 15 years, reflecting rising interest rates and holding costs that are putting substantial pressure on the residential market in prime locations.
The Bronx emerged as the borough with the highest increase, with a 35% annual growth rate in foreclosure rates. However, the overall number of cases has yet to return to pre-pandemic levels.
On the other hand, Queens remains the main source of foreclosure cases in the city, exhibiting a clear geographical concentration. The report points out that zip code 11434 (covering Springfield Gardens, Rochdale, Jamaica, and St. Albans) recorded 50 independent foreclosure applications in 2025, making it a veritable “hotspot” for foreclosures in New York City.
Staten Island, for the second consecutive year, remains the borough with the quietest foreclosure market in the city. Despite some fluctuation in case numbers, the overall level remains at a low point.
When it comes to high-value foreclosure cases, Brooklyn and Manhattan stand out. These two boroughs not only encompass the highest-priced residential foreclosure properties in the city but also feature four out of the top five highest-value commercial foreclosure cases, with four located in Manhattan, highlighting the structural adjustments in the core commercial areas under financial pressure.
Overall, the 2025 foreclosure data for New York City’s housing market indicates that the market is gradually recovering from the post-pandemic slump, but it has not spiraled out of control.