Foreclosure looms over the Palisades Center mall as low offers come in

West Nyack’s Palisades Center mall could go into foreclosure in the next few months if its owner Pyramid Management Group can’t find a buyer, according to the Rockland County Business Journal. Pyramid has missed its most recent payment on a mortgage it took out on the mall in 2016, as many tenants aren’t paying rent because of the coronavirus pandemic. There are a handful of interested buyers, but so far offers have been less than 40 percent of the $388 million in debt on the property, the publication reported, citing sources from lender JPMorgan Chase.  [Rockland County Business Journal] – Dennis Lynch