The I-Team found the troubling trend by analyzing data provided Property Shark, a company that monitors every foreclosure in New York City The I-Team found the troubling trend by analyzing data provided by Property Shark, a company that monitors every foreclosure in NYC Out of more than 900 properties purchased at foreclosure auctions in 2016, 84 of them re-sold for a higher price on the traditional market Despite a median price gain of more than $ 250,000, 63 of 84 flipped foreclosures had no renovation permits on file with Dept. of Buildings Three quarters of the New York City foreclosures that re-sold for a profit in 2016 were flipped without securing a single construction permit, according to an analysis by the NBC New York I-Team.
