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Triple Five

Triple Five affiliate says it is pursuing use of rail freight infrastructure in Calverton

by May 2, 2023
Calverton Aviation & Technology says it is exploring rail freight uses for the Calverton rail spur refurbished and by town at a cost of $3.5 million in 2010-2011.

Crowd turns out Friday night to learn about what ‘warehouse’ proposals could mean for Calverton

by May 2, 2023
A crowd of 92 people attended the Greater Calverton Civic Association meeting Friday night to learn about "Warehouse Breeds" at Riley Avenue Elementary School, where community members presented information about how traditional warehouses have evolved into distribution and fulfillment centers to accommodate online retailing.

The $40 million land deal between Riverhead and Triple Five affiliate ‘CAT’: a look back

by May 1, 2023
With Calverton Aviation & Technology set to present its plans for the Calverton Enterprise Park Wednesday evening at the Hotel Indigo in Riverhead, we thought this a good time to provide a timeline of milestones in the history of the deal, now in its seventh year.

The ‘CAT’ plan for EPCAL does not deserve taxpayer financial support

by Apr 23, 2023
Featured letter: CAT has no approved site plan, no zoning approvals, no required permits and its plan has not undergone the review mandated by the State Environmental Quality Review Act. It should not even be considered for taxpayer-funded support.

Triple Five affiliate hoped to have its application for IDA benefits approved by now, but it’s not clear the agency’s vetting...

by Mar 1, 2023
Calverton Aviation & Technology's attorney said in September his client hoped to gain approval from the IDA by the end of 2022 or early in 2023. Five months later, it's not clear whether the IDA's vetting process has even begun.

Triple Five’s New Jersey mall slapped with $389 million lawsuit claiming construction loan default

by Feb 14, 2023
Construction loan creditors have sued a Triple Five affiliate to collect $389 million on a defaulted loan agreement. The debt was one piece of $1.7 billion in private construction financing for the American Dream mall in New Jersey.

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

by Jan 15, 2023
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

by Jan 4, 2023
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’

by Oct 11, 2022
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

by Sep 22, 2022
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.
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