NYC residential foreclosures on the rise, but did Staten Island buck the trend?

STATEN ISLAND, N.Y. — The number of residential foreclosures across New York City has risen from last year, with only one borough, Staten Island, seeing a decrease.

A new report by PropertyShark analyzed first-time residential foreclosures across New York City during the third quarter of 2025 to identify trends in the city’s real estate market.

There were 412 first-time residential foreclosures across New York City during the third quarter (Q3) of 2025, which was 16% higher than the 354 in Q3 of 2024.

The number of first-time residential foreclosures varied greatly by borough, with Queens leading the way with 165, representing roughly 40% of all citywide cases.

The 165 foreclosures in Queens represents a 33% increase from the 124 in the third quarter of 2024.

Brooklyn had the second-most foreclosures with 113, which was just four more than the 109 the borough saw in Q3 2024.

Manhattan saw 59 first-time residential foreclosures, a 40% increase from the 42 during the same period last year.

The 59 foreclosures represent the most in a single quarter for Manhattan since the first quarter of 2016, nearly a decade ago.

The Bronx also saw a slight increase from last year, with Q3 first-time residential foreclosures increasing from 40 in 2024 to 43 in 2025.

Meanwhile, Staten Island was the only borough to see its residential foreclosures decrease year-over-year, from 39 in Q3 2024 to 32 in Q3 2025.

“Staten Island continued to go against the grain and was the only borough where first-time foreclosures actually decreased, declining 18% Y-o-Y to 32 new foreclosures. This further entrenched the fifth borough as the slowest foreclosure market in NYC,” wrote Eliza Theiss of PropertyShark.

If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.