New owners of Palisades Center Mall share vision
Black Diamond Capital Management recently became the owners of the Palisades Center at a foreclosure auction earlier this month.
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The new owners of the Palisades Center mall in West Nyack New York are sharing their vision for the future of the mall.
Black Diamond Capital Management recently became the owners of the Palisades Center at a foreclosure auction earlier this month.
Now, the firm says it plans to be a long-term owner.
“We see significant value in this property and intend to reinvest in the center, enhance the tenant mix and position Palisades for long-term success," said company’s founder, Stephen H. Deckoff, in a statement.
The new ownership also announced that Spinoso Real Estate Group will remain on as the mall’s management company. The group took over management responsibilities from Pyramid in September 2024.
Clarkstown Supervisor George Hoehmann said he was pleased to hear that decision.
“Now that Black Diamond is keeping them on, there are a number of previous things that have been discussed that I’m excited to see come to fruition,” Hoehmann said.
While he did not share specific details, the supervisor said he plans to meet with Black Diamond soon.
“We are really looking forward to, frankly, a new vision, and honestly a company that has capital behind it,” he added.
Shoppers at the West Nyack mega-mall also expressed optimism about the future.
“I like the mall. I like the stores,” said Leonora of Spring Valley.
Alan, of Suffern, who likes to shop local at the mall, said it plays an important role in the local economy.
“I feel like having the mall also helps with the tax revenue, and that’s very important for the county,” he said.
News 12 reached out to the Spinoso Group for additional comment and but has not heard back yet.
