Deutsche Bank files $35.8M foreclosure action against White Plains building owner

Deutsche Bank has filed a $35.8 million foreclosure action against the owner of a building in downtown White Plains, the Westchester County Business Journal reported. The bank claims an affiliate of Ivy Equities LLC — which owns The Shoppes on Main building — fell behind on payments and operating expenses after a Walmart closed in mid-2018. Deutsche Bank now wants to foreclose on the building’s mortgage, and has asked that a court-appointed receiver “take control of the building and sell it to pay off the mortgage,” according to the outlet. Ivy’s co-CEO Anthony P. DiTommaso Jr. told the outlet the foreclosure action “will not have an effect on operations.” [WBJ]