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Tax Judge Slices $850M Off Massive NJ Mall’s Valuation, Reports Say
A New Jersey tax court judge has slashed the assessed value of the American Dream megamall in East Rutherford by $850 million, marking a nearly 50% drop this year alone, Bloomberg reports.
The ruling made last Thursday, July 31, brings the property's 2025 valuation to $1.65 billion, down from the $3.3 billion figure earlier this year. The initial $800 million cut came in March, followed by this latest reduction, according to CoStar.
The move represents a win for Triple Five Group, the mall's owner, which has long argued that the complex was overvalued, Bloomberg said. However, the dec…
Whole Foods To Close Stores In Four States
Whole Foods will be shuttering the doors of six markets across four states, including one location in the North East, Amazon announced, according to a Bloomberg report.
Citing long-term goals, Amazon, which purchased Whole Foods for $13 billion in 2017, confirmed that some stores will soon be closing as they shift their business plan.
Stores will be closing in these locations:
Brookline, Massachusetts;
Montgomery and Mobile, Alabama;
Tarzana, California;
The Englewood and DePaul neighborhoods of Chicago, Illinois.
According to multiple reports, some of the stores could be closing as soon…
