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Triple Five

Daniel Preston, an owner of company with stake in Calverton land deal with town, dies at 52

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Luminati Aerospace owner Daniel Preston, 52, died at his home in Little Falls, New York on Thursday, Jan. 12. Luminati is part owner of a join venture with Triple Five called Calverton Aviation & Technology, which is in a $40 million land deal with the Town of Riverhead.

Riverhead IDA’s law firm, representing companies suing Triple Five affiliate, says company is ‘sham vehicle’ used by principals to dodge liability

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Riverhead IDA's own legal counsel in federal court filings accuses Triple Five principals, including two men involved in the Calverton land deal, of using a shell company with no assets and no records to dodge personal liability.

EPCAL buyer says it has ‘absolutely no plans’ for air freight ‘cargo terminal’ in Calverton, as Aguiar cautions public against ‘panic’

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Calverton Aviation & Technology is walking back its presentation to the Riverhead Industrial Development Agency last month, maintaining that the plans unveiled at the IDA meeting did not depict an air cargo logistics hub at the Calverton Enterprise Park.

Air cargo logistics hub in Calverton planned by Triple Five affiliate to enhance package delivery services on Long Island

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The Calverton Enterprise Park will fill the need for a regional air cargo logistics hub on Long Island, representatives of Calverton Agency & Technology told the Riverhead IDA in a presentation last night.

Purchaser in Calverton land deal ‘ready to go’ with application for Riverhead IDA benefits, lawyer says

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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.

Triple Five at risk of bond default on NJ mega-mall, where it lost more than $59 million in 2021, securities filings...

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Triple Five, the company in a $40 million land deal with the Town of Riverhead, is at risk of default on its $800 million bonds for its American Dream mega mall in New Jersey, according to a public securities filing made Friday by the bond issuer’s trustee. The company reported losing $59.4 million last year in a separate filing last month.

Aguiar: Town and Triple Five reach agreement on transfer of EPCAL property to Riverhead IDA; public forum set for March 8

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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.

Latest twist in EPCAL/Triple Five deal requires closer public scrutiny

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Ever since the crash-landing of Sean Walter's Bezos-like trip into aerospace with Luminati, his successors on the town board have found themselves in bed with the Ghermezians but not getting much sleep.

Federal lawsuit claims Triple Five company and Ghermezian family members sold counterfeit hand sanitizer in 2020

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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.

Triple Five subsidiary developing NJ megamall breached disclosure obligations and drained reserve fund: securities filing

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The Triple Five company developing the 3-million-square foot mall has drained its debt reserve and has been put on notice by its bond servicer that it has not fulfilled its disclosure obligations under a grant agreement with the New Jersey Economic Development Authority.
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