Black Diamond Capital Management Acquires Retail Asset At 1000 Palisades Center Drive For $175M

The retail asset located at 1000 Palisades Center Drive in West Nyack was sold at a foreclosure auction. The property encompasses a substantial square footage of 2,200,000 and was acquired for a total of $175,000,000, resulting in a price per square foot of $80.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $175,000,000
• Buyer: Black Diamond Capital Management
• Market: West Nyack
• Sale Date: 02/05/2026
• Previous Owner: Pyramid Management Group
• Mortgage Default: $400,000,000

The transaction involved Black Diamond Capital Management as the buyer, acquiring the property from a foreclosure situation where Pyramid Management Group defaulted on a significant mortgage. This highlights the financial negotiations and legal proceedings that can occur in real estate transactions, particularly in distress situations.