Triple Five’s American Dream misses $9M payment – Robert Khodadadian

The American Dream mall missed an $8.8 million payment on municipal bonds that was due Monday, according to a regulatory filing reported by Bloomberg. The interest payment was for bonds that were used to finance the East Rutherford development, spearheaded by Don Ghermezian’s Triple Five Group. The missed payment wasn’t an entirely unexpected twist in the American Dream saga. It was reported last month that the star-crossed mall was waiting on approval of a document

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Cross Post, Home Page, american dream, New Jersey, Retail, shopping malls The Real Deal New York Read More