Samanea New York

Samanea New York Mall is a mixed-use development center located in East Garden City, New York, United States, on Old Country Road & Merchants Concourse (Ellison Avenue). It is currently owned by Lesso Mall Development Long Island Inc. The center is being built inside the mostly unoccupied Mall at the Source, which was named for its former anchor store Fortunoff (advertised as "The Source") operated until June 2009. The mall opened in 1997, under the management of Simon Property Group. With the 2009 closures of Fortunoff, Steve & Barry's, and Circuit City, three large anchor stores had become vacant. The drop of foot traffic by the loss of the anchors has caused other stores – the three aforementioned sub-anchor chains, plus Saks Off 5th, & Forever 21 – and the entire food court – including McDonald's, Starbucks, and Ranch 1 – to pull out from the mall. Simon Property Group and unnamed co-owners of the Mall at the Source defaulted on a $124 million balloon interest-only mortgage in March 2009. It was purchased by a European pension fund in August 2012 and auctioned. In November 2016, it was announced that the Mall at the Source would be sold and could be demolished to make way for a new mixed use development. In May 2017, Lesso Mall Development Long Island Inc. – a subsidiary of the Hong Kong-listed LESSO Group – purchased the mall for $92 million. On October 21, 2017, it was an

Shopping mall data from Wikidata (CC0). Summary from Wikipedia (CC BY-SA).