Triple Five will replace its director of business development Stuart Bienenstock on the EPCAL project.
Supervisor Laura Jens-Smith said she asked the company to replace Bienenstock after RiverheadLOCAL’s report on a New Jersey court ruling that found Bienenstock ‘intentionally defrauded’ the buyer in a real estate deal.
“After this ruling came to light it would have been difficult for the town to work with Mr. Bienenstock,” Jens-Smith said in a press release Monday afternoon. “I communicated to Triple Five that this would not be acceptable, and as a show of good faith to Riverhead they have agreed to replace him on the project,” she said.
“Riverhead is placing great faith in Triple Five to develop one of the town’s most precious resources and to be a good neighbor,” she said. “In light of this it was necessary for Triple Five to replace Mr. Bienenstock.”
Triple Five’s new director of development and point person on this project is Amy Herbold, Jens-Smith said.
When reached at her office this afternoon, Herbold declined to confirm the report, stating that she would direct a reporter’s inquiry to the company’s communications department.
“I told Triple Five that our residents need to be able to trust those handling this sale, and through this gesture it seems they understand. I look forward to working with Ms. Herbold in order to deliver on their promises for EPCAL,” Jens-Smith said.
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