<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4R9Qvy_1FK64pT600" alt="https://img.particlenews.com/image.php?url=4R9Qvy_1FK64pT600" width="1920" height="1080" ><figcaption>WKTV File</figcaption></figure>9/20; 12:49 p.m.—Pyramid Management Group has released a statement regarding the foreclosure proceedings:"We are aware that Wells Fargo has initiated foreclosure proceedings on Sangertown Square. We are in active discussions with the lender and are working collaboratively toward a resolution. We are very confident that we will reach an acceptable resolution on this matter which will keep Pyramid as the owner of the shopping center."Sangertown Square remains open and fully operational. It is business as usual for our retailers, restaurants, and the community members who visit the center, and this process does not affect day-to-day operations at the property."Pyramid remains committed to the long-term success of Sangertown Square."ORIGINAL STORY BELOW:NEW HARTFORD, N.Y. -- Wells Fargo Bank is moving to foreclose on Sangertown Square mall after a $63 million mortgage went unpaid.The lawsuit was filed in New York City earlier this week.Wells Fargo claims Pyramid Management, the mall’s ownership group, owes more than $53 million on a loan first issued in 2011.The loan was originally set to mature in 2021, then extended to 2024, and extended again until June of 2026.According to the lawsuit, Pyramid Management did not repay the full amount by June 27.Last year, Pyramid lost the Palisades Center in West Nyack, the Aviation Mall in Queensbury and the Hampshire Mall in Hadley, Massachusetts to foreclosure.</div></body>

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9/20; 12:49 p.m.—Pyramid Management Group has released a statement regarding the foreclosure proceedings:. "We are aware that Wells Fargo has initiated foreclosure proceedings on Sangertown Square. We are in active discussions with the lender and are working collaboratively toward a resolution. We are very confident that we will reach an acceptable resolution on this matter which will keep Pyramid as the owner of the shopping center.

UPDATED: Sangertown Square Facing Foreclosure; Mall Releases Statement

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9/20; 12:49 p.m.—Pyramid Management Group has released a statement regarding the foreclosure proceedings:. "We are aware that Wells Fargo has initiated for

UPDATED: Sangertown Square Facing Foreclosure; Mall Releases Statement - NewsBreak

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UPDATED: Sangertown Square Facing Foreclosure; Mall Releases Statement

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