Monticello, NY – The broken-down Apollo Plaza mall has sat moldering in the shadow of the Sullivan County landfill since the village shut it down in 2003. And either developers Sam Backer, Uri Nussbaum and Harry Freifeld start paying taxes, or Sullivan County will take control of their property.
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The developers owe more than $1 million in taxes to local governments, according to County Treasurer Ira Cohen.
Yet, so far, the three have been able to block a foreclosure by arguing in court over how much the property is worth for tax purposes.
This month, the developers, who also own the nearby Mountain Mall on East Broadway, agreed with the Town of Thompson that the plaza’s worth $1 million.
If the county also accepts that settlement, it could lead to the removal of a court order stopping the foreclosure, Cohen said.
But Cohen noted that the county’s not willing to follow through with the foreclosure right now.