Palisades Center Now Heading To Public Auction Block

Nearly three years ago, in February of 2023, news broke that one of the biggest shopping areas in the Hudson Valley, and in fact New York state's third largest mall was facing financial troubles and possibly facing foreclosure.

Well, less than a month into 2026 and it seems like the debt has caught up, and this massive shopping center will head to public auction within the next few weeks.

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The Palisades Center Headed Towards Public Auction

The news should not come as a surprise, as back in 2023 court documents revealed that the Palisades Center ownership had defaulted on a $418.5 million loan. Now, several news outlets are reporting that the Rockland County based mall is scheduled for auction on February 4th.

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Syracuse.com, in their coverage of the anticipated auction, indicates that Pyramid, a Syracuse-based management group, lost ownership of the Palisades Mall in 2024 after defaulting on the mortgage taken out in 2016 (the $418 million previously referenced).

It was reported that the Palisades Center's loan 'changed hands between several creditors in recent years and is currently owned by a real estate consortium.'

13th Largest Shopping Center In America

The Palisades Center, which measures 2.2 million square feet, houses more than 200 stores, restaurants and entertainment options, is the 13th largest shopping center in America, and the third largest in New York State.

Opening their doors in the late 1990's, and quickly becoming one of the area's top shopping destinations over the years, these days the mall is home to the usuals like a movie theater, dining and shopping, but also an indoor ferris wheel, ice skating rink, bumper cars and even a rope climbing course.

Rockland Post shared that the public auction will take place on Wednesday, February 4th at 2:15pm at 60 Centre Street in Manhattan. The current listed price is $463.4 million plus interest and court fees, and is said to NOT include the former Lord & Taylor space.

25 Locally Owned and Small Businesses in the Hudson Valley

Small and locally owned businesses are the heartbeat of any community, and here in the Hudson Valley, we’re fortunate to have so many shaping our neighborhoods with character and care. Each one carries its own story — from a shop sparked by an owner’s lifelong comic collection to a farm-to-fork destination named after a cherished family nickname. Here are 25 of the best, ready to inspire, delight, and remind you why shopping local matters.

Gallery Credit: Grayce Journick