“This is a property tax appeal,” said Marc Pfeiffer, a municipal finance expert and assistant director at the Bloustein Local Government Research Center at Rutgers University. It boils down to “what is the calculation for square footage.”
American Dream Mall
American Dream mall says East Rutherford owes it $183M. Here’s why
“This is a property tax appeal,” said Marc Pfeiffer, a municipal finance expert and assistant director at the Bloustein Local Government Research Center at Rutgers University. It boils down to “what is the calculation for square footage.”
American Dream says it’s 87% occupied. But Meadowlands towns are still owed $13 million
“Economic conditions change. Your expectations have to change,” said Marc Pfeiffer, associate director of the Bloustein Local Government Research Center at Rutgers University in New Brunswick. “They wouldn’t be able to cut that same type of deal today.”
Meadowlands towns say American Dream owes them at least $13M
“What their revenue flow is going to be, what their cash flow is going to be, all of those things have been severely compromised by changes in the economy of the last five years,” said Marc Pfeiffer.
American Dream saw boost in sales in first quarter of 2024. Here’s how much
“Not enough resources were spent to manage those contracts to ensure that controls were in place and there was monitoring done to prevent that type of a circumstance from happening,” Pfeiffer said.
American Dream sued by woman who says she was injured by motorized stuffed animal ride
The lawsuits and failure to pay debts “has the effect of buying them time, which gives them the opportunity to renegotiate things” more in the mall owners’ favor, said Marc Pfeiffer, assistant director at Rutgers University’s Bloustein local government research center.
American Dream mall gets construction lender lifeline
Triple Five, owner of the American Dream mall in New Jersey, has struck a deal with a group of creditors led by JP Morgan that grants the developer...
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