By Adam Pincus
The number of foreclosure filings declined modestly and the dollar value of those filings fell sharply in February compared with the prior month, according to a PincusCo Media analysis of suits filed in New York City on loans or debts of $1 million and up.
The highest value loans that lenders sought to foreclose on last month were Ready Capital seeking to foreclose on a $28.8 million loan secured by 158 Lafayette Street, and LNR Partners as special servicer for Series 2019-CD8 bondholders filed to foreclose on an $18.5 million loan secured by 63 Spring Street.
Other than those two loans, the next highest foreclosure filing was $7 million, secured by 271 West 11th Street.
That compares to January when there were eight foreclosure filings of $10 million and up.