Shopping Sold For $100, Once Valued At 190 Million Dollars

[WhatInThe]

A shopping mall in Pittsburgh that once was valued at 190 million dollars was sold at auction for $100.

https://www.thestreet.com/story/13958265/1/an-entire-shopping-mall-just-sold-for-100.html

Wells Fargo owes 143 million dollars on it. Bought it from itself and a future sale will be applied against the debt. Problem is only appraised at $11 million.

 

[Ralphy1]

Probably be a tax write off...

 

[Timetrvlr]

I've noticed a trend in recent years away from indoor shopping malls to stand-alone big-box stores in strip malls. We now have a dead mall in our town that was touted as the latest greatest shopping experience 20 years ago and now another mall is also declining as strip malls keep popping up.

 

[Butterfly]

We have a dead mall, too, and another one is apparently in its death throes.