After snapping up the megamall at court-ordered auction for bargain basement prices, new owners of the Palisades Center have made a public declaration: They’re here for the long haul.
A week and a half after purchasing the mall for a mere $175 million, Black Diamond Capital Management issued a Feb. 13 press release stating that the company plans to be “long-term owners” of the 2.3 million-square-foot property in West Nyack and “to invest in its continued evolution as a premier regional retail, dining, and entertainment destination.”
Black Diamond is affiliated with BD Palisades Holdings, LLC, which was the most recent plaintiff in a foreclosure suit against the mall…