More than 60% of the 17,924 homes sold across New York City during the first half of the year were acquired by all-cash buyers.
The Gothamist reports that among the city’s five boroughs, Queens had the highest total number of all-cash sales with 4,132 out of roughly 6,000 total purchases acquired without the need for a mortgage. Over in Manhattan, nine out of 10 buyers for homes selling at more than $3 million paid in cash.
The data was compiled by the nonprofit Center for NYC Neighborhoods, which also found new foreclosure filings across the city nearly doubled over the first six months of 2025 compared to the second half of last year. Foreclosure activity was mostly centered in low- and middle-income sections of the city including Central Brooklyn and Southeast Queens, where most residents are nonwhite.
According to Ariana Shirvani, senior program manager of the Center for NYC Neighborhoods, the new statistics show “a deepening inequality in both who can buy homes in New York City and who can keep them.”
LOL, who might be buying all these homes for cash in a schithole city run by communists?