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 . 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 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 announced that the Mall at the Source would be redeveloped into a decoration hub for Lesso Home, which was originally scheduled to open in the fall of 2018, but has been delayed. A few retailers, The Cheesecake Factory, Dave & Buster's, and a Fortunoff outdoor furniture and jewelry store have remained open during renovations.
Category:Shopping malls disestablished in 2018
History
Proposal and construction (1964–1997)
bought the property when it expanded the harness-racing track in the 1940s for additional parking. In the early 1960s, Ohrbach's constructed a department store on leased land at north-east corner of the raceway's property. Fortunoff built its store several years later in 1964, as they followed their customers east from the original Fortunoff location in Brooklyn. Alan Fortunoff bought the entire property north of the current boundary of Transverse Drive from Roosevelt Raceway in the early 1980s.In the late 1980s, Alan Fortunoff planned to construct the Long Island Galleria shopping mall, one comparable to the size of the massive Roosevelt Field Mall a few miles away but with different stores. It was to be built by the Westfield Group and include Neiman Marcus and Nordstrom as anchor stores. Community pressure over congestion concerns forced Fortunoff to scale back the size and scope of the mall. Roughly half of the property was sold to Price Club, which developed their portion to include a Kmart. The mall was instead built by Simon Property Group, and they continued to manage and co-own the mall until August 2012.
Lesso Home New York Market (2018–present)
In May 2017, Lesso Mall Development Long Island Inc. purchased the mall for $92 million. On October 21, 2017, it was announced that the Mall at the Source would be redeveloped into a Decor Hub for Lesso Home; redevelopment had been originally scheduled to be completed by the fall of 2018, but has since been delayed. It will include showrooms for many manufactures for home furnishings, decor, and walkable markets. The format will be much similar to the Italy-based Eataly.The firm aims to rebuild the long-ailing retail center as a home-furnishings marketplace for design professionals, contractors and retail buyers. there have being plans to include food and entertainment component for local shoppers.