Palisades Center Foreclosure Complicates Clarkstown’s Defense Of Tax Challenge
Town Hoped Subpoenaed Documents From Mall Lenders Would Show Mall’s Value Was Sound; Foreclosure Throws Wrench In Legal Strategy
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The Palisades Center Likely Headed For A Sale; Wilmington Trust Has Filed To Foreclose On $418.5 Million Loan
The Palisades Center Likely Headed For A Sale; Wilmington Trust Has Filed To Foreclose On $418.5 Million Loan; Mall Has Defaulted On Loan
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Town To Vote Thursday On Holding Referendum To Release Palisades Center From Restrictive Covenant
The Town of Clarkstown on Thursday will vote on a resolution to hold a referendum on Nov. 3rd to determine whether the Palisades Center can be freed of its restrictions to build out unused space on the mall’s fourth floor.
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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.
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