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

Tri-State /
Apr.April 22, 2020 04:53 PM
Palisades Center (Credit: Google Maps, iStock)

Palisades Center (Credit: Google Maps, iStock)

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


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