Larry Rulison, Times Union, Albany, N.Y.(TNS)

QUEENSBURY — Aviation Mall was sold Wednesday morning to a New York City real estate investor who had previously purchased the mall’s mortgage earlier this year out of foreclosure.

The Albany Business Review, which was the first to report the news, wrote that the winning bid of $21 million was made by Ariel “Eric” Jacobov, president of Concord Capital New York, a New York City real estate investment firm. Jacobov’s firm specializes in buying up distressed or undervalued properties.

The mall opened in 1975 and was originally owned by Pyramid Management Group of Syracuse . Pyramid, which also owns Destiny USA , failed to repay a $26 million mortgage it had taken out on the property in 2010 with the Royal Bank of Scotland. The mortgage was

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