American Dream, the massive retail and entertainment complex in the Meadowlands, saw a boost in its first-quarter earnings for 2024 compared with the same period last year, public filings show.
The mall has seen dozens of lawsuits over injuries or failure to pay its debt. Last February, two lenders who helped finance construction of the mall sued the owners for $389 million over an alleged breach of their contract.
The lawsuits and failure to pay debts “has the effect of buying them time, which gives them the opportunity to renegotiate things” more in the mall owners’ favor, Marc Pfeiffer, assistant director at Rutgers University’s Bloustein local government research center, has said.