A very troubled and expensive tristate area mall’s journey through distress is coming to a close. The Palisades Center mall in West Nyack, New York, was auctioned off after a foreclosure. An affiliate of Stephen Deckoff’s Black Diamond Capital Management won the property on Wednesday with a $175 million credit bid, meaning no new funds were expended.  The Black Diamond affiliate had purchased the debt on the property on Oct. 6.  The auction is a new low point in the decline of the regional mall, once valued at $881 million. Its most recent appraisal gave it a 78 percent haircut, […]

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