American Dream Mall is Hemorrhaging

American Dream Mall, the new mega mall development in New Jersey drew nearly $10 Million to service a loan payment due this week, depleting the mall’s reserve fund to literally $820.23.

I remember driving down the Jersey Turnpike in 2019 and seeing a decent amount of construction for the mall underway. It looked like it was nearly complete. And when the pandemic started you had to just feel bad for the developers.

The mall’s attractions aren’t nearly enough to garner the demand for services that they were hoping for. Lil Uzi one time went snowboarding at the indoor ski slope they have in the mall, which didn’t provide adequate clout coverage for the development to survive a couple rainy days.

Situated around nearby oil refineries and literal swampland, you kind of don’t feel terrible because of the piss-poor location. Nothing screams America like building a megalopolis amongst a cogeneration plant and some marshes. Not to mention the most egregious aspect of the location, it also resides just down the road from Met Life Stadium…yikes.

Despite the leasing progress and increasing sales, the financial outlook for the project is “poor,” said Shelly Aronson, a financial advisor and president of First River Advisory in Philadelphia.

TTYL American Dream. It was fun while it lasted.