A sinkhole at the Northland Mall in Sterling, Illinois. Who's David Thomson? - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Namdar officials, both at the company's headquarters and in Connecticut have not responded to interview requests made by Hearst Connecticut Media. ; Filed: 02/20/2018; Received: 02/20/2018, DocketAFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Cavalier, D.; Filed: 02/05/2018; Received: 02/05/2018, DocketSUMMONS + COMPLAINT; Filed By: Cavalier, D.; Filed: 01/24/2018; Received: 01/24/2018. We encountered an issue signing you up. ; Filed: 12/10/2019; Received: 12/10/2019, NOTICE OF DISCOVERY AND INSPECTION Supplemental Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. By comparison, Macerich owns 51 million square feet across 47 malls, and Simon Property Group owns 186 million square feet across 250 properties. [7] The roof at the former Sears at the Phillipsburg Mall would later collapse. According to court records, problems at the Regency site allegedly included broken air conditioning, multiple roof leaks, minimal housekeeping and reduced security. Namdar Group is a family owned and operated real estate investment and development firm headquartered in New York, since 1979. This restaurant has followed ALL county guidelines for outdoor dining and is being told (sight unseen) by these landlords to stop. ; Filed: 02/20/2018; Received: 02/20/2018, DocketDEMAND FOR: Combined Demands; Filed By: Shein, J. Buyer Lawsuit. AEO, ", "Company Overview of Namdar Realty Group LLC", "Owner of former Echelon Mall, called 'slumlord' in Fla., taps overseas cash to become nation's biggest mall buyer", "N.J. mall sold for half price to company that already owns a dying mall", "What happened to the Phillipsburg Mall? - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. +1.03%, The overflowing dumpster has become a public nuisance, according to a letter from the city to Namdar last September. Their first purchase, in 2012, was the DeSoto Square Mall in Bradenton, Fla., after Simon defaulted on the debt. The Class A operators are doing great, McNamara told MarketWatch. The Camden County property is among 43 malls acquired by Great Neck, N.Y.-based Namdar Realty Group since 2012, making it the biggest buyer of the retail centers during the period. Public Records Policy. Bloomberg News recently reported on legal issues stemming from the bottom feeder strategy, while pegging Namdars personal net worth at roughly $2 billion. In April 2011, Warren Mall was sold by Zamias for $720,000, and in April 2016 was under the ownership of Cocca Development. +1.00% Hope Baptist Church and Midwest Clearance Centers filed separate lawsuits in St. Louis County Circuit Court against Namdar Realty Group and St. Louis Retail Outlet LLC, an entity affiliated. The lawsuit contends that the mall should have sold for about $5 million one-fifth of what the company paid. In return, they want a discount. Namdar and the subsidiaries said they would fix the air conditioning and leaking problems, but allegedly never did so. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Namdar Realty Group LLC et. Namdar and Nassim might help to unclog the debt backlog of underwater mall properties. That mall now includes a senior center, Planet Fitness and large sporting goods store, Gabrovsek said. [5][7] The companies also work with Uber Capital Group LLC and Gorjian Acquisitions to acquire properties. Other companies Washington Prime Group Inc., CBL & Associates Properties Inc. and Pennsylvania Real Estate Investment Trust filed for bankruptcy, raising the potential for massive portfolios to come up for sale. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. But when the new owner took a closer look after the sale, it found things were not as they appeared. Representatives of the new owner of the Westfield Trumbull mall are set to meet in an effort to discuss both sides' respective visions for the shopping center. They primarily purchase shopping malls with partner Mason Asset Management. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Curiously, Namdar and Mason continue to fly under the radar. That kind of footprint puts them in league with Macerich Co. "We have a very high retention rate for our tenants, which shows us we are doing a good job.". Nassim and Namdar are frequent partners in shopping malls, Reuters reported in June of 2018. They say they charge affordable rents so stores such as Claires, Lids and Piercing Pagoda can fill vacancies. Photographer: Max Marbut/Jacksonville Daily Record. And we are out there looking all the time for opportunities to purchase better assets than when we first started, Namdar told MarketWatch. Instead of U.S. stockholders and quarterly reports, the team keeps things simple: Namdar focuses on management side of the properties. As a result, a build-up of moisture caused the chiller pipes to rip through the ceiling, destroying the tiles, dry wall and floor, according to the church. If some old malls can be used in new, creative ways, such as the mini-casino plan for an old Macys store at Namdar-owned Nittany Mall in State College, Penn, all the better. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. [16][17] Namdar was a partner in several New York City area property purchases in 2021. On 01/24/2018 Joanne Mistrulli filed a Personal Injury - Other Personal Injury lawsuit against Namdar Realty Group LLC. Ypsilanti Township is suing New York-based Namdar Realty over 1,000 pages worth of code violations found during an inspection at the property just days before Namdar purchased it in December.. Real Capital tracks 134 of the Namdar Realty Groups properties and estimates that portfolio is worth about US$2.7 billion. This advertisement has not loaded yet, but your article continues below. Menu. . Los Angeles, CA 90071 Term Loan6 Pacific Investment Management Company LLC 650 Newport Center Drive Newport Beach, CA 92660 But he still sees the problem as too much debt on lower quality properties financed years ago, when mall valuations were pegged at much higher levels. That comes on top of complaints against Namdar and its sister company, Mason Asset Management, from local officials and residents in several regions. The canopy is peeling off the building, and its signage has fallen. Namdar is an absentee landlord with a reputation as a slumlord, the home furnishings stores complaint reads. The deed was recorded Dec. 30 at the Washington County Courthouse in Fayetteville. Properties that are marked for redevelopment are few and far between, so we maintain our assets.. And the surety of close is an important thing for them., We see that being able to close all-cash, often times gets you a discount from where the market it, he said. [10][11] CH Capital Group has become a partner in several acquisitions. The development has an estimated cost of . Namdar Realty Group is a privately held, commercial real estate investment firm, owning and managing over 57 million square feet of commercial real estate throughout the United States. An REO property is one where a property is owned by a lenderbecause it failed to sell in a foreclosure auction after the borrower defaulted on the mortgage. Igal Namdar, owner of Namdar Realty Group, paid $2.5 million Feb. 28 for the 26-year-old mall at the intersection of Jake Alexander and Statesville boulevards. No court date has been set yet. The Berkshire Mall . We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. The Long Island, New York-based real estate investment firm has about 54 million square feet across the country. Now they rank among the biggest all-cash buyers of the nations hard-luck malls. SPG, ; Filed: 12/11/2019; Received: 12/11/2019, DocketDEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. +1.17% Major shopping mall owners, including Simon Property, Starwood Capital, Brookfield Asset Management and others have reacted to the upheaval by handing back the keys to lenders on some properties, rather than throw good money after bad. But what really sets them apart is a steady stream of all-cash offers to sellers who want out. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. ; Filed: 03/23/2018; Received: 03/23/2018. "When you own 100 retail properties, of course you're going to have people having complaints. View 8012 W 14th Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. If the ultimate goal is to redevelop the property, criticism can occur. As we build our portfolio, we want to constantly improve the quality by having better assets.. He raised the possibility that another owner might not keep some of Namdars malls open at all. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. DJIA, A welcome email is on its way. All are headquartered in Great Neck. It's owned by Namdar Realty Group, known for aggressively acquiring dying malls and milking them for money while they keep dying. The next issue of FP Investor will soon be in your inbox. The case status is Pending - Other Pending. Others will be handed back to lenders through an uncontested or confrontational foreclosure process.. The case status is Disposed - Dismissed. The three anchor stores remain Macy's, Dillard's and JCPenney. Like dozens of other traditional malls, the Acadiana Mall has seen its share of struggles in recent years. Despite being hit with allegations of neglect at several of their malls, Namdar and Mason are rapidly growing. In another part of the mall, the leaky roof allegedly made it impossible for a tenant to move in. ; Filed: 02/20/2018; Received: 02/20/2018, STATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING; Filed By: Shein, J. Many once online-only retailers are moving into the suburban mall, finding value in the traditional store but offering experiences tailored to their customers. namdar realty group. Why microchips could make or break the electric vehicle revolution, Medicare just crushed the hopes of 750,000 Alzheimers patients a year, These 24 tech stocks stand out now as the FAANGs fade, With the 10-year Treasury topping 4%, its time to start dipping your toes in, says Wamco. The mall looks abandoned, but isnt. After the company purchased the River Oaks Center near Chicago, Namdar executive Joel Gorjian told USA Today in 2017 that the company was open to "alternative uses or entertainment centers" for vacant mall space. Mehdi Bolour faces 25 criminal charges over illegally rented Hollywood building. Beautiful remodeled single family home in Palm Springs Lakes community with no association. None of this seems to faze Namdar and Mason executives, who say theyve survived downturns before. (Dec. 6), Police arrest suspect in Christmas Eve mall shooting, Court records show Acadiana Mall sought thousands from former tenants, Your California Privacy Rights/Privacy Policy. Lately, the team has been moving up in quality. ; Filed: 01/24/2020; Received: 01/24/2020, NOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant; Filed By: Shein, J. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Find out what works well at Namdar Realty Group from the people who know best. More than 20 percent of U.S. malls will close by 2022, according to a 2017 report by Credit Suisse. U.S. mall values have plunged 46 per cent from their 2017 peak, including an 18 per cent drop since the COVID-19 pandemic started, according to real estate information service Green Street. After soaking Florida's DeSoto Square Mall for management fees, Namdar attempted to sell the property for $30 million, according to a lawsuit filed by the financial services firm ML Holdings in. Theyve been a bottom feeder, historically, buying on the cheap, for pennies on the dollar and making a go of it, said Jim Costello, senior vice-president at Real Capital Analytics Inc. Its not the high end of the market, but its solid retail if you can set it up right.. Updated at at 11:28 p.m. on Feb. 18, 2022 with Brad Namdar's response to the Secretary of State.. Dallas congressional candidate Brad Namdar's business has been suspended from a state anti . Case Details Parties Documents Dockets In New York City, malls lost half a year to the pandemic before being permitted to reopen in September. 201 : Jury Demanded By: Plaintiff Case Summary. Over time, you do become what youre perceived, Cushman and Wakefield Vice Chair Mark Gilbert said of Namdar in a 2018 interview with Reuters. Mason president Elliot Nassim, 40, whose cousin married Namdar, focuses on leasing and redevelopment while Namdar oversees property management. We see that a lot of these malls are being sold by lenders, said Igal Namdar, the companys president, in an interview with MarketWatch. ; Filed: 01/24/2020; Received: 01/24/2020, DocketNOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant; Filed By: Shein, J. The Namdar team hopes more, higher quality malls will keep shaking loose. But almost anything below Class A, there really has been no bid for, except for the Namdars of the world. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. ; Filed: 02/20/2018; Received: 02/20/2018, DocketANSWER; Filed By: Shein, J. . The case remains pending in a Florida circuit court. In 2019, Namdar bought 30 properties and Mason acquired 23. Much has been written about the death of American mall, including recently by the New York Times in an article that notes the deep nostalgia many people have for local malls, even as many property owners have been struggling for years to keep the lights on. Compare pay for popular roles and read about the team's work-life balance. ; Filed: 02/20/2018; Received: 02/20/2018, DocketNOTICE OF DEPOSITION UPON ORAL EXAMINATION; Filed By: Shein, J. Namdar Realty Group said the transaction closed in late August. Click here to sign up for Jersey Digs' free emails and news alerts. We apologize, but this video has failed to load. He said he sees value in the properties as malls, where other investors in the market are more interested in redeveloping them for other uses. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Why is this public record being published online? [5][7], Namdar and Mason often charge lower rent to keep mall vacancies low. Brad Schrader, Sterlings superintendent of public works, said he suspects the city is the victim of Namdar using the local mall for depreciation purposes., We get stuck holding the bag in the end, he said. So far, that strategy has netted big gains as well as lawsuits accusing Namdar of allowing his real estate to slide into disrepair. -0.17% Ft. Today, the family is a major investor and developer of mixed-use. Single Family Residential. As Namdar rushes to acquire more properties, some worry that the ones it owns are being left behind. Are these the brands that might save the mall? For Sale Price: $480000 | 3 bed, 2 bath, 4356 Sq. He scoops up struggling centres at bargain-basement prices after their landlords lose faith, betting he can turn a profit before the last tenants turn out the lights. The properties Namdar and Nassim began scooping up after the 2008 financial crisis were C or D malls, categories, like exam grades, that point to room for improvement or near failure. Weve redirected our efforts at the St. Louis Outlet Mall and have since entered into a multiparty agreement to resolve outstanding taxes and assessments, Namdars spokesperson said in a statement. On August 27, 2018, Alexander S. Rusek filed an appearance as counsel for Holiday Park Realty and Igal Namdar and noted that Igal Namdar does not do business as "Igal Namdar d/b/a Namdar Realty Group." Rusek filed a motion to set aside the default judgment and the circuit court agreed that it lacked personal jurisdiction over Igal Namdar. If youre buying to harvest cash and not reinvest, it will work.. We feel that were doing very good for the communities and the properties that we own within those communities, said Masons president, Elliot Nassim. If you don't see it, please check your junk folder. NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE, Cases involving other agreements or torts not classified elsewhere, 190, 1190, 2190, 3190, 4190, 4194, 5190, 5196, World Properties LLC et al - v. - Namdar Realty Group LLC, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #3) Notice of withdrawal of Order to Show Cause without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #002) Notice of withdrawal of motion without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, EXHIBIT(S) - D (Motion #3) Complaint; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - C (Motion #3) 190124 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - B (Motion #3) 190103 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - A (Motion #3) 181205 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN REPLY (Motion #3); Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE (Motion #3) Affirmation in Opposition to Proposed Intervenor's OSC; Filed By: Hirschel, D.; Filed: 02/20/2019; Received: 02/20/2019, EXHIBIT(S) - E (Motion #3) Medical Record Redacted per 22 NYCRR 202.5(e); Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, EXHIBIT(S) - D (Motion #3) Mold Intrusion Report; Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, NOTE OF ISSUE:WITH JURY *Corrected* Note of Issue (with Jury); Filed By: Hirschel, D.; Filed: 08/30/2018; Received: 09/03/2018, STIPULATION - SO ORDERED; Filed By: Court User; Filed: 06/12/2018; Received: 06/12/2018, ORDER - CERTIFICATION; Filed By: Court User; Filed: 06/11/2018; Received: 06/11/2018, NOTICE OF DISCOVERY AND INSPECTION Notice of Discovery and Inspection; Filed By: Hirschel, D.; Filed: 09/29/2017; Received: 09/29/2017, ORDER - PRELIMINARY CONFERENCE; Filed By: Court User; Filed: 09/21/2017; Received: 09/21/2017, ADDENDUM - GENERAL (840A); Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, PRELIMINARY CONFERENCE REQUEST Request for Preliminary Conference; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, ANSWER; Filed By: Emouna, M.; Filed: 07/26/2017; Received: 07/26/2017, SUMMONS + COMPLAINT Summons and Complaint; Filed By: Hirschel, D.; Filed: 05/04/2017; Received: 05/04/2017. Why is this public record being published online? At the same property, Impact Church of Jacksonville accused managers of avoiding upkeep, making the building look abandoned. Impact paid US$7.4 million in 2016 to buy a former Belk department store on the site, where it now runs a school as well as a church. Read More. Mr Namdar has also been sued by retailers: International Decor Outlet in 2017 accused the landlord of contract breaches like malfunctioning air-conditioning, substandard repairs and inadequate. Namdar Realty Group corporate office is located in 150 Great Neck Rd Ste 304, Great Neck, New York, 11021, United States and has 203 employees. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Namdar has also been sued by retailers, including International Decor Outlet, which in 2017 accused the landlord of contract breaches such as malfunctioning air conditioning, substandard repairs and inadequate security at the Regency Square Mall in Jacksonville, Fla. Staunton Mall was purchased from bankrupt First Republic Realty for $4.05 million in November 2010. Namdar and three subsidiaries own the Regency Mall in Jacksonville, Florida. They sold it in 2016 for US$25.5 million to ML Estate Holdings LLC, which sued two years later, contending the property had lower revenue and higher costs than represented. The companies were sued in 2017 by a tenant, International Dcor Outlet, who claimed the owners failed to properly maintain and repair the property. According to a June 2018 Reuters story, Namdar has emerged as one of the nations top 20 mall landlordsthrough an aggressive strategy that focuses largely on malls that have struggled with slowing sales and foot traffic. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Malls were at one point seen as the future places where people of all ages could gather and shop under a single roof. What is the alternative for the retailers who rent from them?. The pandemic accelerated Americans years-long shift to e-commerce, forcing many already-ailing department stores and apparel shops to go dark. Behind the vacancies and decay: A tough retail climate and low-investment owners", "Meet the Long Island guys who love unloved shopping malls", "Namdar acquires Connecticut mall, its seventh this year", "24-year-old's firm arranges $7.8M in financing", "Executive of the Month: Joel Gorjian of Gorjian Acquisitions and Namdar Realty Group acquires 18 retail properties nationwide", "New York investors buy San Antonio mall worth $102M", "Bangor Mall sells for $12.6 million, well below assessed value", "Bon-Ton gone: Another Phillipsburg Mall anchor is torn down (and ownership is silent)", "Jennifer Furniture comes back to its LI roots", "Goodrich Quality Theaters will reopen after being bought out of bankruptcy", "Goodrich Theaters purchased, reopening plans announced", "West Village Apartment Building Sells for $23.5 Million", "Klosed, Namdar buy five-building Hell's Kitchen portfolio for $26M", "Bon-Ton bankruptcy court ruling makes liquidation more likely", https://en.wikipedia.org/w/index.php?title=Namdar_Realty_Group&oldid=1138343211, This page was last edited on 9 February 2023, at 04:31. Several market experts pointed to Nadmar and Nassim as among the sectors biggest cash mall buyers. MALCOLM et al. The Voorhees Township site has since been sold to another company. -0.16%. malls? Richard Pelzer II. The damage may be causing water to infiltrate the citys sewer system, according to emails between town officials sent throughout 2020 provided to, Over time, you do become what youre perceived, Cushman and Wakefield Vice Chair Mark Gilbert said of Namdar in a, At a shuttered mall in Hazelwood, Missouri, near St. Louis, the local newspaper published images of burned-out light bulbs and waist-high grass. Their strategy generally was to suck out as much money from a mall as possible, said Silber, and they try to just dump it.. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Finally, one place to get all the court documents we need. In the meantime, a judge assigned Spinoso Real Estate Group to manage the mall while the case proceeded. NAMDAR REALTY GROUP 150 GREAT NECK ROAD SUITE 304 GREAT NECK, NY 11021 Tel: 516.773.0010 Fax: 516.773.0030 OFFICE HOURS MONDAY - FRIDAY 9:00AM - 6:00PM EST [email protected] Namdar owns and operates retail property throughout the United States. Dozens of retailers have filed for Chapter 11 in the past year, including mall staples such as J.C. Penney and Ascena Retail Group. ; Filed: 02/20/2018; Received: 02/20/2018, DEMAND FOR BILL OF PARTICULARS; Filed By: Shein, J. Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. [15] Namdar and Mason purchased most of the bankrupt Goodrich Quality Theaters chain in July 2020. Mark Gabrovsek, the townships zoning officer, said the mall's local management team has worked to bring innovative ideas to the site. Visit our Community Guidelines for more information and details on how to adjust your email settings. Its a different market.. At a Namdar property in Sterling, Illinois, photographs show a sinkhole that formed after a storm drainage tube collapsed. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, and others, come up for renewal. Namdars bet is that he can pay a small enough price to outrun the decline. The Acadiana Mall was owned by CBL Properties for several years. It is always our goal to add value to our properties, and we are diligent in our efforts to remedy any maintenance or management issue that is brought to our attention.. On 05/04/2017 World Properties LLC filed a Contract - Other Contract lawsuit against Namdar Realty Group LLC. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. History. The financial issues tied to struggling U.S. malls already runs into the billions. The Posthaste newsletter has all the breaking business news and market signals you need, The Posthaste newsletter the business news you need, Igal Namdar: The billionaire bottom feeder who buys malls as others run away, Death of the balcony: Why an outdoor space of one's own may soon be a luxury in condoland, The CRA generally lets you claim family medical expenses not this time, Nordstrom joins the exodus of U.S. retailers from Canada: What you need to know, We are very clearly in an energy supply crisis Eric Nuttall sees return of triple-digit oil prices, 'Panic station at Fox News': How the Murdochs agonized over Trump's election loss. Those As get to be too crazy. If you do not agree with these terms, then do not use our website and/or services. That is where we kind of make our money.. Musk Made a Mess at Twitter. Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Stock Traders Are Ignoring Blaring Bond Alarms, iPhone Maker Plans $700 Million India Plant in Shift From China, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. But there have been new openings as well. Other stores have also closed, including the Gap, Gap Kids, Banana Republic and New York and Company. ; Filed: 10/01/2019; Received: 10/01/2019, DocketADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DocketDEMAND FOR: Retainer Statement; Filed By: Shein, J. and Kimco Realty Corp. When the issue was raised, Namdar painted over the water stains and the problem got worse as mold grew and another leak developed, International Decor Outlet asserted in a 2017 suit. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. We ask you to keep your comments relevant and respectful. While we cannot say much on the matters related to the Midtown DeSoto Square Mall, it has been made public that we sold the property in early 2017, Namdars spokesperson said. Upset communities allege that Namdar and Mason are looking to turn a profit by not investing in their malls. So the community may want one thing, but economically, its not feasible.. ; Filed: 03/12/2018; Received: 03/12/2018, AFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Shein, J. And it may be natural to have issues at some mall locations, especially if theres not enough capital to make changes, industry sources say. Namdar also recently hired a director of redevelopment with plans to repurpose some of the partnerships properties.