STATEN ISLAND, N.Y. — The number of residential foreclosures across New York City increased over the past year, with all five boroughs seeing their totals rise.
A new report by PropertyShark analyzed first-time residential foreclosures across New York City in 2025 to identify trends in the city’s real estate market.
There were 1,588 first-time residential foreclosures across New York City during 2025, which was 8% higher than the 1,475 in 2024.
“The NYC foreclosure market heated up in 2025,” said Eliza Theiss of PropertyShark. “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.”
The number of first-time residential foreclosures varied greatly by borough, with Queens leading the way with 587, representing roughly 37% of all citywide cases.
Brooklyn had the second-most foreclosures with 460, which was just nine more than the 451 the borough saw in 2024.
Manhattan saw 208 first-time residential foreclosures, a 28% increase from the 163 recorded the previous year.
The 208 first-time residential foreclosures in Manhattan represent the most the borough has seen since PropertyShark began tracking data in 2010.
The Bronx recorded 194 foreclosures in 2025, up from 144 in 2024. The 35% increase was the largest of any borough and the primary driver of the citywide increase.
For the second straight year, Staten Island had the fewest foreclosures of any borough with 139 in 2025, just three more than the 136 in 2024.
“Closing 2025 with 139 first-time filings after a negligible 2% Y-o-Y uptick, Staten Island was yet again the least-active foreclosure market in NYC and considerably down compared to its 196-foreclosure peak in 2023,” said Theiss.