Noteholder Sues To Foreclose NYC Condo Over $19M Default

Law360, New York (April 6, 2012, 4:52 PM EDT) -- A loan note successor to Anglo Irish Bank Corp. PLC asked a New York state judge Thursday to foreclose a Manhattan condominium, saying it is owed $18.9 million from a defaulted mortgage agreement that was backed by private equity-funded AREA Property Partners.

LSREF2 Clover Trust 2011, the successor assigned by Anglo Irish Bank to a 2007 loan note, contends holding company 730 Riverside Owner LLC has defaulted on its mortgage agreement for the Washington Heights property known as the Beaumont and owes an outstanding principal of...
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