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American Dream Mall Tax Battle Escalates | Real Estate News
The American Dream mall is locked in a fiery tax dispute, facing claims for $25 million from surrounding towns over unpaid payments tied to its massive development. Owners Triple Five Group argue payments aren’t due until the mall is fully leased—currently at 88%—while towns like Carlstadt and Secaucus demand their share, with eleven others each seeking $387,500. The NJSEA, meant to distribute funds, says it’s seen nothing. The mall’s marketing chief dismisses the agreements as “suggestions,” claiming no obligation to towns not directly adjacent. Complicating matters, bondholders recently…
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