SISTER MALL TO WEST EDMONTON MALL
American Dream Mega Mall Lost $60 Million Last Year
, Bloomberg News
(Bloomberg) -- American Dream, the struggling megamall close by the New Jersey Turnpike, lost about $60 million in 2021, according to a securities filing.
The 3.5-million-square-foot shopping and entertainment complex, home to an indoor ski slope, amusement park and water park, generated about $173 million in revenue, mainly from attractions and rent. Expenses totaled $232.4 million, according to a three-page unaudited financial report.
American Dream was walloped by the pandemic as successive waves of the coronavirus discouraged shoppers and tourists. Mall owner Triple Five Group is seeking a four-year extension to repay $1.7 billion in construction financing, Bloomberg News has reported.
The mall was 80% leased as of April 1, according to a separate filing.
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