Property Shark’s Foreclosure Report: Queens Is Hurting

Property Shark released its July foreclosure data, and—no surprise—there were lots of homes up for auction last month. All four regions of the U.S. saw foreclosure increases, with Miami and Los Angeles getting hit particularly hard—LA’s rate was up 249%. Comparatively, New York City seems practically stable, with a mere 67% increase. Queens bore the brunt of it, especially the St. Albans and Jamaica neighborhoods. But Brooklyn’s not immune: we reached a two-year high in July, with 63 new properties in the pipeline.
Feb 15, 2012 | 11:04 AM