On Thursday, the Riverhead Town Board withdrew a proposal to hire an outside law firm to look into the town’s contract with Triple Five Group and Luminati Aerospace after complaints from some board members about the way the firm to be voted on was chosen.
A Stamford, Conn.-based company that loaned Luminati Aerospace $10 million in 2016 is now taking the company to court, claiming it has defaulted on that loan. Hexcel Corporation is asking the courts to seize property belonging to Luminati at the Enterprise Park at Calverton in order to turn it over to them, and they are also asking that the due date on the loan be accelerated so it is due immediately. READ
Triple Five has replaced its director of business development and point person on the $40 million sale of 1,643 acres at the Enterprise Park at Calverton, according to Riverhead Supervisor Laura Jens-Smith, who said she requested the change in the wake of a report by RiverheadLocal revealing that Stuart Bienenstock was convicted in 2016 in a New Jersey court of forging documents in a real estate transaction. (more…)
Calverton Aviation and Technology has now formally requested a 90-day extension of the 90-day “due diligence” period that was called for in the agreement to buy 1,643 acres of land from Riverhead Town for $40 million. READ
Triple Five, the company hoping to purchase 1,640 acres in Calverton from Riverhead Town for $40 million, has now officially closed on a separate deal to buy 105 acres at the former Dowling College campus in Brookhaven for $14 million.
Stuart Bienenstock, Triple Five’s director of business development, confirmed by email Sunday that the deal closed Friday. READ
Calverton Aviation & Technology has responded to a 4 p.m. deadline imposed by Riverhead Town to notify officials whether it would submit additional financial information in regard to its proposal to purchase 1,640 acres of town-owned land at Enterprise Park at Calverton, according to Riverhead Supervisor Laura Jens-Smith and Stuart Bienenstock of Triple Five, the majority owner of CAT. READ
Bedlam broke out at the end of Thursday’s Riverhead Town Board work session when Nader Ghermezian, the chairman of Triple Five Group, began shouting at Supervisor Laura Jens-Smith and others when he wasn’t permitted to speak as the board discussed Calverton Aviation and Technology’s finances. READ