Manhattan foreclosures spiked this spring — and didn't spare one of the wealthiest ZIP codes
Fresh data, published by the real-estate industry portal PropertyShark, documented an 11% citywide jump in new foreclosure filings from April through June, compared to last year.
Manhattanites with mortgage defaults rose 15%, with a surprising number of cases documented in one of the city's historically wealthy ZIP codes.
5 A historically wealthy swath around Park Avenue saw a shocking spike in foreclosures.
Rinze van Brug
5 Citywide foreclosures numbered 408 in the spring.
zimmytws – stock.adobe.com
Out of 46 Manhattan homes hit with new filings, eight were clustered in Midtown's 10022 ZIP code — a locale known for exclusive 100-year-old buildings, sky-high prices and old-money owners.
ZIP code 10022 spans roughly from 49th to 60th streets, sandwiched between Fifth Avenue and the East River. The area encircles landmarks like the Waldorf Astoria New York and Bloomingdale's.
Its local reputation for luxury shopping, particularly along Fifth Avenue, comes with home prices to match — the median listing price in the 10022 ZIP code was $1.3 million in June, according to Realtor.com reporting.
Looming debt and lagging sales are bogging down even the city's most well-heeled residents.
5 The ZIP code of 10022 encompasses some of the best shopping and some of the highest prices in the city.
Michael Nagle
5 Grand Army Plaza at Central Park borders the well-off nabe.
MISHELLA – stock.adobe.com
'Interest rates are rising, there is high economic distress, many times generational wealth does not mean someone is liquid,' luxury Serhant realtor Peter Zaitzeff told the Daily Mail.
Even historic pre-war condominiums like the Parc Vendome building on West 57th Street, on the opposite side of Central Park, saw a foreclosed-upon studio recently enter contract with a listing price of just $525,000.
Across the river, Brooklyn led the city in foreclosure filings, dethroning Queens. Kings County saw 129 new filings in the spring, a 36% spike compared to last year. Canarsie and East Flatbush led the borough with 17 cases.
5 Flatbush and Canarsie led Brooklyn's numerous foreclosures, but record-high cases came from across the city, in The Bronx.
Helayne Seidman
Queens, the city's most active market, saw a welcome 20% slowdown in fillings, down to 128 in the second quarter of the year.
Staten Island foreclosures, on the other hand, increased by 25% to 48 cases, and activity in The Bronx hit a new high. The borough surpassed its five-year foreclosure peak with 57 filings last quarter.
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New York Post
2 days ago
- New York Post
Manhattan foreclosures spiked this spring — and didn't spare one of the wealthiest ZIP codes
April showers brought Manhattan foreclosures this spring — even in the poshest parts. Fresh data, published by the real-estate industry portal PropertyShark, documented an 11% citywide jump in new foreclosure filings from April through June, compared to last year. Manhattanites with mortgage defaults rose 15%, with a surprising number of cases documented in one of the city's historically wealthy ZIP codes. 5 A historically wealthy swath around Park Avenue saw a shocking spike in foreclosures. Rinze van Brug 5 Citywide foreclosures numbered 408 in the spring. zimmytws – Out of 46 Manhattan homes hit with new filings, eight were clustered in Midtown's 10022 ZIP code — a locale known for exclusive 100-year-old buildings, sky-high prices and old-money owners. ZIP code 10022 spans roughly from 49th to 60th streets, sandwiched between Fifth Avenue and the East River. The area encircles landmarks like the Waldorf Astoria New York and Bloomingdale's. Its local reputation for luxury shopping, particularly along Fifth Avenue, comes with home prices to match — the median listing price in the 10022 ZIP code was $1.3 million in June, according to reporting. Looming debt and lagging sales are bogging down even the city's most well-heeled residents. 5 The ZIP code of 10022 encompasses some of the best shopping and some of the highest prices in the city. Michael Nagle 5 Grand Army Plaza at Central Park borders the well-off nabe. MISHELLA – 'Interest rates are rising, there is high economic distress, many times generational wealth does not mean someone is liquid,' luxury Serhant realtor Peter Zaitzeff told the Daily Mail. Even historic pre-war condominiums like the Parc Vendome building on West 57th Street, on the opposite side of Central Park, saw a foreclosed-upon studio recently enter contract with a listing price of just $525,000. Across the river, Brooklyn led the city in foreclosure filings, dethroning Queens. Kings County saw 129 new filings in the spring, a 36% spike compared to last year. Canarsie and East Flatbush led the borough with 17 cases. 5 Flatbush and Canarsie led Brooklyn's numerous foreclosures, but record-high cases came from across the city, in The Bronx. Helayne Seidman Queens, the city's most active market, saw a welcome 20% slowdown in fillings, down to 128 in the second quarter of the year. Staten Island foreclosures, on the other hand, increased by 25% to 48 cases, and activity in The Bronx hit a new high. The borough surpassed its five-year foreclosure peak with 57 filings last quarter.
New York Post
14-07-2025
- New York Post
NYC bill would ban pet stores from hawking birds — leaving activists crowing and small-biz owners crying fowl
City pet shops would be barred from hawking birds under a new local bill that's pitting animal activists against mom-and-pop peddlers. The animal-rights camp says the proposed New York City Council plan — introduced less than a year after the Big Apple banned shops from selling cats, dogs and rabbits — is needed to thwart cramped, inhumane breeding mills. Advertisement 'Birds are not decorations, toys, or commodities—they are living, feeling animals who should not spend their lives caged in tiny New York City apartments,' said Allie Feldman Taylor, founder and president of Voters For Animal Rights, which has been pushing for the ban alongside Councilwoman Diana Ayala. But bird sellers are crying foul, claiming the bill could be their swan song. 6 Big Apple pet stores would be banned from selling birds under a new City Council bill. Michael Nagle Advertisement 6 If the plan passes, it would be a swan song for many of Gotham's mom-and-pop shops, owners say. Michael Nagle 'They're going to force people out of business,' said Sayari Hichem, a former pizza-shop worker who has owned Royal Birds & Supplies in Richmond Hill, Queens, for just under two years. 'It's going to affect every single person [involved].' The bill would bar pet stores from slinging parrots, parakeets, cockatiels, macaws and other popular pet species but not ban the peddling of poultry such as chickens. If passed, it would mark the first retail ban of birds in the state. A similar bill at the state level is in committee. Advertisement 'New York has already banned the retail sale of dogs and cats due to the cruelties of the puppy mill industry,' said Humane Long Island Executive Director John Di Leonardo to The Post. 'However, these cruelties pale in comparison to an industry that cages birds by the hundreds or even thousands in cramped and barren cages,' he said — adding the birds screech, suffer and mutilate themselves in confinement. 6 Birds in cages are peddled for sale at Royal Birds & Supplies in Richmond Hill, Queens. Michael Nagle But the legislation is already ruffling feathers in the Big Apple's pet-store community, with a 'high percentage' of bird shops and supply stores expected to close as a result, according to Felix Nieves, who owns Pet NV Discounts in Bushwick, Brooklyn. Advertisement Nieves, who has run his Central Avenue supply shop for 37 years, fears that his store — which doesn't sell live animals — would be another casualty of the ban. 6 'They're going to force people out of business,' said Royal Birds owner Sayari Hichem. Michael Nagle 'When they banned rabbits, there was a decline in sales for rabbit food and cages,' he said. 6 Bird-peddling shops say they're the best way to regulate the market. Michael Nagle Hichem, 49, who sells about three birds per week, warned that the bill will only move bird sales to the unregulated 'black market,' where many breeders have allegedly already started turning a profit without a middleman. Megan Walton of the New York-based avian sanctuary Pigeons for Miles said the proposed legislation could result in a 'backyard breeding nightmare kind of situation very quickly if there aren't provisions in place to prevent that.' She said the ban will still take 'ages' to go into effect as Big Apple birds continue to suffer — including a baby parrot at a shop in Corona, Queens, that reportedly died inside its cage while the others pecked at the glass last month, according to a video shared with The Post. But Hichem denounced what he called the bill's one-size-fits-all measure and argued his store — which also takes in rescues and surrenders — is much more than just a shop: It's an avian sanctuary for birds who have nowhere else to go. Advertisement 'They think we're abusing the birds … It's not the right way, to ban a place that the birds need,' he said, adding that he hand-feeds and raises '90%' of his birds before they're sold to the public. 6 Hichem says his store — which also takes in rescues and surrenders — is much more than just a shop: It's an avian sanctuary for birds who have nowhere else to go. Michael Nagle But animal activists say bird surrenders from well-meaning families are already packing sanctuaries, and that the bill would open up avenues for local stores to generate a new kind of revenue by leasing much-needed shelter space for dogs and cats that can be adopted. Advertisement 'We experienced the same concerns when we fought to restrict wild animals in circuses years ago – now Ringling Bros. and Barnum and Bailey Circus is back animal-free,' Di Leonardo said. 'Businesses must evolve with evolving times, but evolving times simply means new opportunities for savvy entrepreneurs.'
New York Post
13-07-2025
- New York Post
Third Avenue retail scene on upswing
The retail scene on Third Avenue north of Bloomingdale's appears to be on the upswing, which spells good news for Upper East Siders and for the Manhattan store-leasing scene in general. Availability as high as 25.9% between 59th and 79th streets at the end of 2020 has gradually dipped to 8.4%, according to Cushman & Wakefield leasing powerhouse Steven Soutendijk. 'That is s very low, and almost all of that available space is around Bloomingdale's, like the Home Depot space,' he said. Asking rents range from $150 per square foot to $400, Soutendijk said, but the average ask is $246 per square feet. Advertisement Bloomingdale's at 1000 Third Ave. Google Maps Although the mile-long Third Avenue corridor enjoys none of the prestige of Madison Avenue, it's meaningful as a barometer of the economic health of one of Manhattan's most stable middle-class neighborhoods. 'Its consistency and strong demographic base continue to attract high-quality tenants,' said Meridian's James Famularo. Three years ago we noted that Third Avenue had lost many sportswear shops to 'wellness' tenants and even to walk-in pet clinics. Most are still there, and more are coming, but there's a renewed trend of leases to businesses that actually sell products. Advertisement The next major arrival, we're told will be Brandy Melville at 1172 Third Ave., between East 68th and 69th streets. The long-dark site was most recently home to CVS and a few pop-ups. Blinds to Go gobbled up half of the retail space at 1011 Third between East 60th and 61st streets. Whole Foods Daily Shop took over most of the space that was previously Food Emporium. Advertisement Workshoppe, a four-level fitness club, is coming to 1120 Third Ave. Steve Cuozzo A new outpost of popular Italian trattoria Felice is replacing a diner-cafe in Trump Plaza at East 64th Street. Some high-priced venues across from Bloomingdale's remain dark, such as the never-leased retail corner at the Harry Macklowe-developed 200 E. 59th St. and the former Ikea Studio at 999 Third Ave. But north of them, 'Small space in the high 60s and 70s gets leased very quickly and it is a very diverse mix of traditional apparel, groceries, restaurants and services,' Soutendijk said.
