Syracuse, N.Y. – The owner of Syracuse’s Destiny USA has lost its third mall in a year to foreclosures by lenders.
A Warren County judge on July 14 approved a bank’s foreclosure on Pyramid Management Group’s Aviation Mall in Queensbury, north of Albany, and ordered the shopping center auctioned off within 90 days or “as soon as reasonably practicable.”
Syracuse-based Pyramid, whose Destiny USA is the largest mall in New York and one of the biggest in the nation, defaulted on a $26 million mortgage loan on Aviation Mall last year when it failed to pay the debt off by its maturity date…