Now that the Palisades Center Mall has officially changed hands, News 12 is taking a closer look at the new ownership from the foreclosure auction, BD Palisades Holdings LLC.

Recent court documents show "Stephen Deckoff" signed off as the "managing principal" for BD Palisades Holdings.

According to a Forbes profile updated last year, Deckoff is the founder of Black Diamond Capital Management, a private equity firm that manages $10 billion in assets. Forbes lists his wealth to private equity and as self-made.

Black Diamond Capital Management’s website states the firm is in Stamford, Connecticut, with additional offices in London, St. Thomas, and Mumbai.

Deckoff made headlines, like the NY Post, in 2023 after purchasing Jeffrey Epstein’s former islands for a reported $60 million, with plans to redevelop into a luxury resort.

At this time, it remains unclear whether any changes are planned for the mall in West Nyack.

Local business leaders say the Palisades remains a critical economic driver for Rockland County.

“It is a key cog in our economic engine,” said Ken Zebrowski, president of the Rockland Business Association.

Zebrowski emphasized the mall’s importance to the county.

“It’s one of the biggest taxpayers in the county. It probably generates the largest sales tax in the county, and it employs thousands of people in a variety of ways,” Zebrowski said. “We should all be doing what we can to make sure that it thrives.”

News 12 spoke with people who were big fans of the megamall.

“I go often and I love it,” said Gerardo Piña-Rosales of Valley Cottage. “I love the stores. I love the fourth floor.”

Debra from Sloatsburg agreed.

“You can walk around. You can shop. You can go eat. I take my kids there,” she said. “I absolutely love it.”

News 12 reached out to Black Diamond Capital Management for an interview and is awaiting a response.

Meanwhile, Clarkstown Supervisor George Hoehmann says he plans to meet with the new ownership soon and hopes the mall’s current management company will remain in place.