Sheriff’s sale of Pittsburgh Mills mall canceled
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Ownership at the Pittsburgh Mills mall in Frazer won’t change, after all.
A sheriff’s sale on the property was scheduled for Monday, but the delinquent debt on the mall was paid in full Friday.
Owner Namdar Realty Group had owed about $11.5 million in special assessment bills.
“Our office was notified late this afternoon that the judgment for the Pittsburgh Mills property situation has been paid in full,” said Mike Manko, Allegheny County Sheriff’s Office spokesman. “As such, the sale scheduled for Monday has been canceled and stayed.”
Frazer initiated the sheriff’s sale process this summer because Namdar had not paid $11.5 million in special assessment taxes on four properties: the mall building, the former Sears Grand and two other vacant commercial properties.
Township Supervisor Lori Ziencik said this week the township was looking forward to a new owner who could revitalize the property and complement the success of the nearby retail properties.
She also previously accused Namdar of being an “absentee landlord.”
“The township has successfully fulfilled its obligation as written in the (tax increment financing/neighborhood improvement district) documents to seek payment for the bondholders,” Ziencik said Friday after the cancellation. “Unfortunately, the bonus outcome of a new owner at sheriff sale will not occur. The township will need to continue the constant requests for property maintenance and road repairs.”
The mall was built in 2005, and Namdar acquired the property in 2018.
A Namdar spokesperson could not immediately be reached Friday afternoon, but the company said in a statement to the Tribune-Review earlier in the day that it had hoped to resolve the situation before the sale.
“Our firm highly values the Pittsburgh Mills mall and the surrounding community. It holds a significant place in our portfolio,” Namdar’s statement said.
None of the special assessment revenue is retained by the township; it is sent to Wells Fargo bank to pay bondholders. All properties in the tax increment financing district pay their real estate taxes.