Queens Tops in Summer Foreclosures; Manhattan Notches 35

There were 665 new foreclosures in Queens during the third quarter of 2008, according to PropertyShark's new report (PDF here), which accounted for half of the new foreclosure auctions in New York City and helped push New York’s quarterly foreclosures to a two-year high of 1,118.

In general, first-time foreclosures were higher in the outer boroughs and relatively nonexistent in Manhattan, where there were only 35 in the three months ending Sept. 30. Staten Island had the second-highest number, with 174, followed by Brooklyn (165) and the Bronx (79).

Once again, ZIP codes of neighborhoods in central and eastern Queens had the most first-time foreclosures, with four of the top five ZIP codes in Jamaica, South Jamaica, Hollis and St. Albans. Of the 15 ZIP codes with the most foreclosures, 13 were in Queens.

But, hey, it could be worse. You could live in Los Angeles, where there were over 14,000 new foreclosures last quarter.