NYC Foreclosures Fall 23 Percent in Third Quarter
New York City owners and renters see fewer residential foreclosures, while a Soho office building sold for $132.5 million.
Updated on Nov. 3, 2026 in Commercial
Tishman Speyer closed the sale of the 12-story, 155,000-square-foot office building at 148 Lafayette Street in Soho to Shorenstein Properties for $132.5 million, roughly $855 per square foot. The property is fully leased.
Why it matters
Tishman Speyer bought the building a year and a half earlier for $105.5 million, so the sale shows a gain on that purchase price for the seller. For New York City households and renters, the same records show new residential foreclosures fell to 319 in the third quarter, a 23 percent year-over-year decline.
The 148 Lafayette Street sale came in at about $855 per square foot on a 155,000-square-foot building. Records covering Oct. 30 through Nov. 2, 2026 logged 199 transactions totaling $470 million across the city.
The players
Tishman Speyer
A New York real estate developer and owner-operator known for large Manhattan office and residential properties, and the seller of 148 Lafayette Street.
Shorenstein Properties
A San Francisco-based real estate investment firm that owns and manages office properties in major U.S. cities, and the buyer of 148 Lafayette Street.
The details
The sale was recorded in New York City records covering the period from 4 p.m. Friday, Oct. 30 through 3 p.m. Monday, Nov. 2, 2026. Other notable closings in the same records include a 6,200-square-foot penthouse at 211 West 84th Street that sold for $24.9 million, the priciest residential sale in the period, a Chelsea condo at 555 West 22nd Street that sold for $19 million, and a Park Avenue co-op at 895 Park Avenue that sold for $12.5 million.
Timeline
About 2024: Tishman Speyer bought 148 Lafayette Street for $105.5 million.
Q3 2026: New York City residential foreclosures fell to 319.
Oct. 30 to Nov. 2, 2026: Records of 199 transactions totaling $470 million were entered.
The Home Front
Third-quarter New York City records show 319 new residential foreclosures, a 23 percent year-over-year decline. The same records show a commercial office building in Soho trading at roughly $855 per square foot.
If you rent or own in New York City, the foreclosure decline and steady high-end sales are worth tracking when you plan a move or budget for housing costs. Check your lease or mortgage documents and talk with a licensed agent or lender before any transaction decision.
The takeaway
Falling foreclosure filings and strong commercial prices point to a steadier New York City market this quarter. Keep your housing documents and loan paperwork in one place, and speak with a licensed professional before any buying or selling decision.
Further reading
Explore more Commercial real estate coverage for New York City.
Source note: This article includes information reported by The Real Deal New York.
