Retail (NYC Spotlight)
New York City Spotlight: Paying Up
By Laura Gatea Commercial lis pendens in New York City reached a five-year low in the first quarter of 2013, dropping by 25 percent from the previous quarter and by 46 percent from the peak, recorded in the second quarter of 2009. Brooklyn compiled 51 percent of the total commercial lis pendens activity in the city; however, the current number is down 27 percent from the fourth quarter of 2012 and 39 percent year over year. Manhattan followed the overall trend of the city, with commercial lis pendens down by 65 percent from the highest value, which was recorded in…
New York City Spotlight: Ending on a Too-High Note?
(commercial foreclosures as of fourth quarter 2012)
Back in Brooklyn
(NYC commercial lis pendens by borough) By Adriana Limbasan Commercial pre-foreclosures in New York City saw a 19 percent decrease in August 2012, reaching 203, down from 252 in July 2012 and 251 in August 2011—good news for the city. Brooklyn particularly stood out in its recovery. Although it accounted for 46 percent of the lis pendens citywide, it registered the highest decrease among the five boroughs, dropping by 39 percent over the previous month, to 94 from 153, and 23 percent over the same month a year ago, when it had 122 lis pendens. It was closely followed…