Calverton Aviation & Technology, the company in contract with the Town of Riverhead to purchase most of its remaining vacant land at the former Grumman site in Calverton, will submit updated financial documents to the town to demonstrate its ability to close the deal and develop the property.
Luminati Aerospace CEO says he'll be “a landowner and investor" at EPCAL, but he's moving his company operations to the City of Little Falls in Herkimer County. What does this mean for EPCAL land deal?
Luminati Aerospace facing eviction by EPCAL landlord and lawsuit by investor over alleged default on $10 million loan
Luminati Aerospace, an owner of the company in contract to buy 1,643 acres of vacant land at the Calverton Enterprise Park, is facing eviction from the manufacturing building it leased at the enterprise park and is being sued by a principal investor for alleged default on a $10 million promissory note and mortgage in its real property and equipment at the industrial park.
In My Opinion
Triple Five's seat at the table is based on sleight of hand and their behavior raises real questions about their integrity. Opinion column by John McAuliff
Tech and aviation companies, from Maglev to space rocket developers, say they want to work at EPCAL during hearing
Several technology and aviation companies expressed interest in working at EPCAL with Triple Five at the hearing, including a Maglev technology developer and a start-up designing rockets to launch miniaturized satellites into space.
Principals of Triple Five, his partner in the joint venture, sought to minimize Preston's importance in the project. "He has nothing to do — he has no say — he has no power, no nothing,” Triple Five chairman Nader Ghermezian stood up and told the board. Preston's longtime lawyer Robert Hasday blamed his client's absence on 'a hatchet job of an article' published on RiverheadLOCAL yesterday.
His past full of outrageous claims and broken deals, Luminati’s Daniel Preston is coming for Riverhead
Our year-long investigation into Daniel Preston’s past uncovered little to back up his most outlandish claims – just a long trail of disappointed former partners, fabricated success stories and broken deals that ended up in court. Column by Denise Civiletti
Councilwoman Jodi Giglio is calling for the immediate termination of Luminati's runway use agreement because she says the Calverton company has not provided a $5,000,000 liability insurance policy to the town.
The proposed contract of sale was filed in the town clerk's office for public review yesterday. Here's a rundown of its terms and a copy of the document filed in the clerk's office.
The billionaire businessman's representative was critical of the town's slow pace and negotiating posture.
12Page 1 of 2