A four-storey shopping centre that once was one of the most lucrative malls in the US – and whose attractions include an ice-skating rink – has been acquired.
The 2.2 million square feet Palisades Center in Clarkstown, New York, was purchased for $175M by Black Diamond Management at a foreclosure. Black Diamond was the only bidder at the auction held in Manhattan Supreme Court. Its previous owner and developer – Syracuse-based Pyramid Management Group, which opened the mall in 1998 – had failed to make a $400M dollar mortgage payment on loan for the property dating back to 2016.
The winning bidder, BD Palisades Holdings, purchased the debt in 2025 at a discount and assumed ownership of the property at the auction.
The four-storey mall, located 12 miles from the Mario Cuomo Bridge off Interstate 287, houses more than 200 tenants. It has 8,500 parking spaces and 40 escalators.
The centre features a 2,000sq ft food hall with a dozen quick-service restaurants, a double-decker Venetian Ferris wheel and a 21-screen AMC movie theatre. Its fourth-floor ice rink serve as the site for local hockey teams and welcomes guests, as well. Also on that level is the Palisades Climb Adventure, a five-level obstacle climbing course.
