Real Estate
East Flatbush Sees High Foreclosure Rate In Third Quarter: Study
East Flatbush is one of five New York City areas that saw a large number of foreclosed homes between July and September, a new study shows.
FLATBUSH, BROOKLYN — East Flatbush had among the highest number of foreclosures in New York City last quarter with the seizure of more than 20 homes, a new analysis shows.
East Flatbush is one of five New York City regions that saw more than 20 foreclosures between July and September of 2019, according to a real estate report from PropertyShark.com
Twenty-one homes in East Flatbush's zip code 11203 entered the foreclosure process, and the nearby 11236 — which covers Canarsie, Flatlands and Marine Park — saw 32, the most in all of New York City.
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Brooklyn saw 199 homes go into foreclosure and 856 properties go into the pre-foreclosure stage, which is a 10 percent increase year-over-year, the study found.
Overall, foreclosures dropped 2 percent in Brooklyn while Manhattan foreclosures spiked by almost 120 percent, according to the analysis.
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PropertyShark focused its report on residential properties scheduled for auction for the first time in 2019's third quarter, analysts wrote.
Read the full report here.
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