McKinley Mall is worth even less now. Here's what that means

The McKinley Mall has slid further into decline.
The mall's collateral value has been reduced again, this time to $11.5 million, according to real estate advisory firm Trepp, which cited May servicer data.
That's a long way down from the $56.5 million it was appraised at just six years ago.
The mall serves as collateral behind a $34.6 million loan that was secured in 2014 by Delaware-based owner Stoltz Management during a refinancing. The value was reduced to $15 million last fall.
Why does the new, lower value matter?
Read the full story in the Buffalo News