Yonkers, NY, August 8, 2010 -- Tom Bushey of the Times Herald-Record today published an article delineating developer Louis Cappelli owing $24.7 million in arrears to 27 contractor who were engaged in clearing and preparing 1,500 acres in Monticello, New York, on the Concord Properties were the famous Concord Hotel, now demolished, once stood. Mr Cappelli lost control of all but 160 acres of 1,500 acres in Monticello, New York, to Entertainment Properties Trust (EPT), his former partner. Cappelli and EPT settled their row to the tune of $160 million. As part of that settlement agreement, Mr Cappelli lost control of New Roc City, in New Rochelle, New York, in a parting of ways that was touted to lessen the financial strain of the Cappelli operation.
The property still under Cappelli’s control includes the site of the old Concord Hotel, and the area where Cappelli had planed a luxury hotel / casino, and harness horse racing track.
Cappelli's construction firm hired numerous contractors that provided materials such as steel and concrete, architectural drawings, engineering, environmental testing, demolition and equipment. 27 companies have filed liens against the properties since 2008, according to Sullivan County property records, but some have refrained:
• Design Development Architects, White Plains, NY: $791,289
• BMB Leasing, New Rochelle, NY: $228,064
• The Lessard Architectural Group, Vienna, VA. :$1,982,256
• Edwards and Zuck PC, Manhattan, NY: $1,595,270
• CA Rich Consultants, Plainview, NY: $282,222
• JM Associates, Bedford Hills, NY: $152,960
• Miron Building Supply, Brooklyn, NY: $11,531
• Schuco USA, Newington, CT: $3,814,590
• Tectonic Engineering and Surveying, Mountainville, NY: $38,985
• Brennan Beer Gorman Architects, New York, NY: $889,628
• Barker Steel, Milford, MA: $773,470
• Perreca Electric, Newburgh, NY: $48,255
• Rolf Jensen and Associates, Chicago, IL: $220,000
• Callanan Industries, Albany, NY: $32,267
• Tremson Corp., Brewster, NY: $191,300
• Cives Corp., Roswell, GA. : $8,952,294
• Viracon, Owatonna, MN.: $1,060,891
• Nacirema Environmental Services Co. Bayonne, NJ: $2,035,876
• Swift Electrical Supply, Teterboro, NJ: $15,151
• US Electrical Supply, West Caldwell, NJ: $11,068
• York Analytical Services, South Nyack, NY: $44,116
• Mazzochi Wrecking, East Hanover, NJ: $60,050
• MG McLaren PC, West Nyack, NY: $165,814
• Peterson Geotechnical Construction LLC, Skaneateles, NY: $127,749
• East PBT, Newington, CT: $112,068
• Cranesville Block Co., Amsterdam, NY: $127,080
In the meanwhile, in Yonkers, the Community Development Agency (CDA) is diligently "engaged" in negotiations with Rob Astorino's 9th Floor Westchester County government offices to facilitate the SFC Project. How, is anybody's guess considering that still unresolved is clear title to the property upon which the Greyston Foundation intends to build a workforce / affordable housing unit and adjacent garage facility to meet the non-market rate housing component of the SFC Project which is strictly market rate housing. Despite no clear title to the property, the Yonkers Industrial Development Agency (YIDA) has induced the project go ahead with $8 million in funding. Yonkers Tribune acid-tongued bloggers have learned that the City of Yonkers (CoY) is a title holder to the property, but not the only one. The CoY title injects a "conflict" that will need to be remedied in a court of law, assuming there is a sheriff around when you need one. the conflict is the "undeclared" title held by CoY, the other title claimants, there may be as many as three more, the YIDA involvement, specifically because Mayor Amicone presides as Chairman of the YIDA Board, and he also represents the title holder as the Mayor of the City.
Is the sheriff on vacation?
