Shopping malls are by no means a thing of the past but, with the emergence of online shopping, the ability to get folks out of the house to shop in person has become more challenging than ever. It can be argued that foot traffic at the traditional brick-and-mortar plazas has slowed when compared to, say a decade ago. How are New York malls faring in 2024?

It appears one of the biggest malls in the Nation, located in Central New York, has been struggling of late and they aren't the only one. Is the struggle strong enough to force these retail giants to close their doors?

107.7 WGNA logo
Get our free mobile app

On October 15th, Destiny USA will turn 34 years old. Over the years Destiny USA, located in Syracuse, NY, has become one of the biggest malls in the United States and is currently owned by Pyramid Management Group.

According to Syracuse.com, Destiny USA is in danger of foreclosure after attempting, and failing, to secure a one-year extension of the mall's $430 million dollar overdue mortgage loans. Destiny also failed to make their required $38.9 million dollar payment that would have qualified them for the extension.

518 News, Destiny USA mall, Syracuse New York
Photo by Clem Geiss on Unsplash
loading...

Pyramid Management Group, based out of Syracuse, recently lost control of Palisades Center Mall in West Nyack, NY and is in danger of losing ownership. Pyramid's New York properties are not the only ones struggling. According to Mass Live, Hampshire Mall in Hadley, Massachusetts started foreclosure proceeding in May of this year.

It is unlikely that these malls will go out of business but could see a change of hands in regard to ownership and/or handling of finances.

LOOK: 50 Beloved Retail Chains That No Longer Exist

Stacker takes a look at 50 major retail chains that no longer exist and the reasons for their demise.  

Gallery Credit: Madison Troyer

MASSIVE LIST OF RETAILERS CLOSING THEIR DOORS IN 2024

Inflations, online shopping, and bad business deals are causing many massive retailers to shut down. Check out 12 of the most recognizable mega stores that are cutting their losses and shutting down this year.

LOOK - 10 Biggest Malls In America

These malls are so big they can accommodate shops, movies and even rollercoasters. These are the 10 Biggest Malls in America according to Geeks for Geeks.

Gallery Credit: Karolyi

More From 107.7 WGNA