Palisades Center Avoids Foreclosure, For Now
The maturity date for the loan has been extended to either October 2021 or whenever Palisades Center pays off the last of the 12 monthly installments, whichever comes first.
Continue ReadingThe maturity date for the loan has been extended to either October 2021 or whenever Palisades Center pays off the last of the 12 monthly installments, whichever comes first.
Continue ReadingNew York & Co. parent company RTW Retailwinds has filed for Chapter 11 bankruptcy protection and plans to permanently close most if not all of its stores, which may include the location at the Palisades Center.
Continue ReadingCoresight Research estimates 20,000 to 25,000 stores could permanently close in the U.S. this year, with 55% to 60% of those closures in malls.
Continue ReadingClarkstown has until August 3rd to decide whether it will put a referendum on the Nov. 3rd ballot for voters to allow The Palisades Center to expand into its unused space.
Continue ReadingIndianapolis-based Simon Property Group has sued The Gap Inc. and associated entities for breach of contract and willfully withholding rent during the coronavirus pandemic.
Continue ReadingThe Palisades Center did not make April or May mortgage payments and an insider familiar with The Pyramid Group says a June payment is “not likely,” because stores are not on track to open until mid-month.
Continue ReadingMalls around the nation that had been closed since March to prevent the spread of COVID-19 began opening within the last two weeks, but foot traffic remained anemic, according to data from Placer.ai.
Continue ReadingJ.Crew is the first company to file for bankruptcy during the COVID-19 pandemic and analysts expect the list will grow longer.
Continue ReadingMore than half of all mall-based department stores could close by the end of 2021, according to Green Street Advisors.
Continue ReadingBankruptcy is looking like a probable outcome for The Pyramid Group but Hail-Mary negotiations have been underway through the weekend to keep the mall developer from the bankruptcy court, according to a source close with knowledge of the dire situation.
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