Destiny USA, New York’s Largest Mall, Defaults on $300 Million Mortgage

Destiny USA mall in default on $300M loan

Destiny USA, New York’s largest shopping mall, has defaulted on a $300 million mortgage after failing to extend its loan’s maturity date, according to financial filings. The mall’s owner, Pyramid Cos., now faces the risk of foreclosure as all outstanding debt is due immediately. The loan, tied to the mall’s 2014 expansion, ballooned to $325.2… MoreDestiny USA mall in default on $300M loan

One Of The Largest Malls In The U.S. Just Defaulted On Its $300 Million Mortgage

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One of the largest malls in the U.S. defaulted on $300M loan. Now what?

The lender could foreclose on the debt-saddled Destiny USA in New York, but the companies are negotiating.

Destiny USA Mall Defaults on $300 Million Mortgage

Destiny USA Mall in Syracuse defaults on a $300 million mortgage after failing to secure an extension. The lender canceled a forbearance agreement, making all outstanding debts due immediately. Foreclosure is possible, as the mall's value is significantly lower than its debts.

Destiny USA, New York’s largest mall, defaults on $300 million mortgage

Pyramid Cos. failed to extend the loan's maturity date, lender could foreclose.

New York's Largest Mall, Destiny USA, Defaults on $300 Million Mortgage

(TJV NEWS) Destiny USA, the largest mall in New York and one of the largest in the U.S., has defaulted on a significant $300 million mortgage, as reported by Syracuse.com. The mall’s owner, Carousel Center Co., was unable to secure an extension for the loan when it matured on June 6 of last year, according to recent financial filings. The report states that after missing the opportunity to extend the loan, Destiny USA’s mortgage has now gone int…