NYC Foreclosures Continued To Rise In 2025; See Which Borough Lead The Way

NEW YORK CITY — The number of residential foreclosures in New York City rose in the past year, with one borough reaching its highest figure in at least 15 years, according to a new report.

A new report by PropertyShark looked at first-time residential foreclosures across New York City in 2025 and found that were 1,588 first-time filings, 8 percent more than in 2024.

Queens lead the way with the most foreclosure filings with 587, about 37 percent of all citywide cases. Brooklyn came in second place with 460 foreclosures — nine more than the previous year.

Manhattan reached its highest foreclosures figure since 2010 with 208 listings, a 28 percent increase from 163 recorded in 2024. The borough also saw the city’s most expensive residential foreclosure of 2025. A 3,726-square-foot penthouse at the Metropolitan Tower hit the auction block with a $9.74 million lien back in March.

The sharpest uptick in foreclosures came from The Bronx. The borough saw a 35 percent increase year-over-year, from 144 to 194. Foreclosures in the Bronx have doubled in the past two years, but the 2025 total is still less pre-pandemic levels, according to PropertyShark.

Staten Island residential foreclosures increased slightly to 139 cases, just 3 more than in 2024.

"The NYC foreclosure market heated up in 2025, totaling 1,588 first-time filings, 8% more than the previous year," Eliza Theiss of PropertyShark said. "Still, the market remained slightly below 2023 levels, the most active post-pandemic year yet for the NYC distressed property sector with 1,619 first-time filings