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New York City second-quarter foreclosures reach 2-year high (Video)

New York City foreclosure activity is picking up in the second quarter, with first-time foreclosures growing for the first time in the past year, according to figures from real estate data site PropertyShark.com.

A total of 348 properties were scheduled for foreclosure auctions during the second quarter, reaching a two-year high. The figure was 39 percent higher than the same time last year and a 138 percent jump from the previous quarter, with only Manhattan and Staten Island showing signs of stability, PropertyShark.com said.

Bronx and Queens had the highest quarterly growth. Both boroughs tripled their overall number of foreclosures, accounting for 224 scheduled foreclosure auctions out of the total 348. Queens alone added a total of 129 foreclosed properties in Q2, a 169 percent surge from the first quarter.

Pre-foreclosures, or homes that have a delinquent loan and in danger of foreclosure, reached a three-year high in the second quarter, with a total of 4,214 units, a 36 percent increase from a year ago and up 19 percent increase from the first quarter.

The River House co-op at 435 E. 52 St. #4E was the property with the biggest lien filed in the second quarter, of $4.69 million, with an auction that took place on June 3.

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