Calverton Aviation & Technology

The clock is ticking as an important deadline looms in the $40 million land deal with a Triple Five affiliate at the Calverton Enterprise Park. The company must have a complete application for benefits filed and accepted by the Riverhead Industrial Development Agency by Sept. 24.

The Riverhead Town Board today approved transfer of the town’s land holdings inside the Calverton Enterprise Park to the Riverhead Industrial Development Agency, pursuant to an agreement reached between the town and its contract vendee, Triple Five affiliate Calverton Aviation and Technology.

Triple Five has agreed to move forward with the town’s proposal to involve the Riverhead Industrial Development Agency in the $40 million EPCAL land deal, Supervisor Yvette Aguiar announced this afternoon.

At issue, Riverhead Supervisor Yvette Aguiar says, is what happens if the buyer does not gain approval from Riverhead IDA. Triple Five attorney Christopher Kent denies his client is reneging on anything and says they are simply trying to work out the details.

A proposed resolution authorizing the transfer of land at the Calverton Enterprise Park to the Riverhead Industrial Development Agency will not be on tonight’s town board and CDA meeting agendas.

A Triple Five company and members of the Ghermezian family, whose conglomerate is involved in a $40 million land deal with the Town of Riverhead, have been accused of selling counterfeit hand sanitizer beginning in the early days of the COVID-19 pandemic.

Riverhead officials today announced a new approach to closing the town’s $40 million land deal with Triple Five-affiliate Calverton Aviation & Technology.

The Triple Five subsidiary that bought the Dowling College aviation campus in a bankruptcy proceeding in 2018 has been forced to terminate its benefits agreement with the Brookhaven Industrial Development Agency.

Triple Five Group, the company in a $40 million land deal with the Town of Riverhead to buy nearly all of the town's remaining vacant land at the former Grumman site in Calverton, detailed losses at its American Dream retail and entertainment complex in New Jersey in financial statements made public Thursday.

The State DEC has again sent the Town of Riverhead back to the drawing board on its EPCAL subdivision plan.