NYC foreclosure filings decline in February, average loan size falls

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.