More:Sikes Senter sold to New York-based investment group Kohan Retail. Then theres the Lycoming Mall in Pennsdale, Pennsylvania, where Kohan paid $58,900 in January to settle delinquent water and sewer bills and stop an auction, according to the Lycoming County Sheriff. Just an awful company, mall management is laughable as well. Kohan also owes almost $5 million in back taxes on the property. 212, Great Neck, NY 11021-5320 Kohan had bought the property out of foreclosure, promising to pay $9 million in accumulated fines and taxes. Eastern Hills Mall, with partner Uniland Development Co., envisions a $250 million project that would turn the shopping center into a small, walkable community, complete with apartments, green space and entertainment. Berkshire Mall reopens, owner says hes working on redevelopment plans. And the pandemic hastened the already sweeping trend toward online shopping. It was demolished in 2017. The Buffalo News reported officials in the Town of Hamburg, N.Y.,were so concerned about Kohans track record they filed an affidavit asking a court to reject the purchase of McKinley Mall. [1][7] The mall had previously declared bankruptcy in August 2011. Email notifications are only sent once a day, and only if there are new matching items. ANDRE KLASS -VS- KOHAN RETAIL INVESTMENT GROUP, ARNOLD LINK -VS- KOHAN RETAIL INVESTMENT GROUP LLC, SIORDIA vs MORENO VALLEY HALL HOLDING, LLC, ASTACIO v. AMCOR RIGID PACKAGING USA, LLC. Local officials in Matteson, Ill., labeled Lincoln Mall a public danger because the fire sprinkler system had been dismantled, the roof began crumbling and electrical wiring was exposed. [88] Kohan made a partial payment to stop the auction. Despite that improvement, the mall may well be in financial trouble. [87] Kohan owed around $550,000 on The Orchards Mall in various taxes before its sale in late 2018. Having problems? Uses several aliases including Mike Kohen, Mehan Kohansiek, Mehran Kohansieh, Mehran Kohansiek, and Mehrzad I. Kohansieh. [56] Fort Steuben Mall was sold by Kohan to Brookwood Capital in February 2022. [11][12] Crystal River Mall was purchased for $2.8 million in 2012, and would be sold to United Realty M.T.A. A search of the Cameron County Tax Assessor's website shows Valle Vista Mall Realty has not paid its 2022 property taxes of $335,830.76. [17] Washington Square Mall was purchased in April 2016 for $2.5 million. The company's pending purchase ofMcKinley Mallhas some people worried KRIG's spotty record will continue in the Town of Hamburg. On my behalf as County Treasurer, a civil lawsuit was filed against Southbridge Mall Realty Holding, LLC for the delinquent real estate taxes and interest on the buildings and improvements known locally as Southbridge Mall.Prior to Fiscal Year 2017-2018, the Southbridge Mall buildings and improvements were taxed as separate parcels from the They buy other properties without investing into the existing properties which puts a strain on cash flow . They do not pay their bills or employees. Kohan finalized the purchase from Sure Fire Group LLC, a group of local investors, for $10.2 million on Tuesday, paying $4 million of the total price with cash, said This is a great time for businesses to consider large spaces that can be transformed into localized shops or venues at affordable prices. [2][76] The mall was later sold to ViaPort USA for $9.25 million. During Jefferson Parish, Louisiana's investigation, it was discovered that additional taxes from 1992 were not paid on the vacant Macy's anchor building, resulting in Kohan owing another $480,000. [19] Southbridge Mall during its tax sale was purchased by Kohan for $1.5 million in September 2016. In Richmond, Ohio, developer DealPoint Merrill purchased an old Sears and 22 acres of parking lot at the Richmond Town Center Mall last year. That total includes the tax, accrued interest and costs. Sikes Senter sold to New York-based investment group Kohan Retail, Goodbye, Chapel Hill Mall. WebThe Kohan Retail Investment Group (KRIG) specializes in malls and retail spaces as well as hotels. [49] Oak View Mall was purchased for $7.5 million in April 2021. WebMapping by Mapline. ANDRADE vs MORENO VALLEY MALL HOLDING, LLC. An affidavit from Benderson Development filed Wednesday complains that Newmark did not give Benderson a chance to submit an offer on the property, and that Benderson is prepared to offer a "significantly higher bid" than Kohan's. The decline of the Southbridge Mall mirrors that of the Berkshire Mall, which had 100 shops and restaurants when it opened in 1988. Advancement is based on merits and management encourages outside the box, forward-thinking, and appreciates a good work ethic. Last month, KRIG put in a bid of $8.5 million on the mall, which is assessed at about $10.5 million. The mall was slated for demolition in 2012. It now stands at 15 percent. Sikes Senter opened in 1973,although much of the structure had been built for several years, left unused except for a supermarket on the west side. Kohan paid the bill two hours before the deadline and was required to pay a $210,000 deposit. [1][7] Staunton Mall was purchased from bankrupt First Republic Realty for $4.05 million in November 2010. Partly cloudy. [23] Fort Steuben Mall was purchased for $10.75 million in December 2018. No company is perfect. WebFinance Department. WebAbout us. Kohan also owns the Great Northern Mall in Clay, N.Y., where he owes $3.4 million in delinquent taxes, with a tax auction looming in 2021 if the debt is not resolved, according to the Onondaga CountyProperty Tax Service records. [79] Kohan owed $627,789 in property taxes on the Washington Square Mall in 2017, and the mall was put up for tax sale. Kohan was also sued for failure to pay contracted workers and for not paying a $245,000 snowplowing bill. With the action taken today, Onondaga County has now begun the process of taking over ownership of this mall and will work diligently and expeditiously to get this property redeveloped and back into productive use.. [44] Central Mall Lawton was sold to Lawton, Oklahoma for $14.6 million in January 2021. Kohan Retail Investment Group is a shopping mall investment company based in Great Neck, New York. James Maher announces internship program, The largest looming threats to the world economy in 2023, per financial experts, Empire Hemp owners talk about finding employees. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. But the New York-based firm doesn't plan on keeping the whole thing. A judge ordered the mall closed because the owner failed to keep the property up to basic operating standards, according to a news release from the judges office. LANESBOROUGH Look at the 27 malls owned by Mike Kohan and his Kohan Retail Investment Group and a pattern quickly emerges. And the best part of all, documents in their CrowdSourced Library are FREE! [64][65] Lincoln Mall suffered from serious material condition issues during Kohan's ownership and in August 2013 went into receivership. [12][66] Matteson, Illinois took over ownership in June 2014 and it closed in January 2015 after running out of money. 2023 Advance Local Media LLC. The Rotterdam Square Mall has since been sold again, and redeveloped as VIA Port Rotterdam. If Kohan buys your mall RUN! This case was filed in U.S. District Courts, slumlord. Tulsa Promenade in Oklahoma went into receivership in 2019 for missed mortgage payment and maintenance issues. [29] Berkshire Mall was sold to Durga Property Holdings for $1 million in July 2019. Join the Kohan Retail Investment Group team, Jul 8, 2021 - Director of Human Resources, Poor company with poor leadership and shady practices. Youll see most of the tenants are leaving the mall, he added. Get up-to-the-minute news sent straight to your device. In 2018, Kohan paid nearly $1 million in back taxes few days before he was to have lost the property to a tax taking, according to the town. But he doesnt want to tear down all or even portions of the mall. Home Retail Locations Hotels Leasing Valle Vista and its 651,000 square feet of retail space on 30 acres opened as a regional mall in 1984 and has served since as a key block in the city's economic foundation, especially when it comes to retail. [31] Towne Square Mall was sold for $5.15 million to Towne Square Mall Holdings LLC in December 2019. Some examples include: Woodville Mall in Ohio, purchased in 2009, was closed by court order in 2011 due to structural issues including holes in the roof, mold and mildew. Learn more about recent acquisitions, upgrades, and other information. Hes done it before. Website. Both have lost anchors and other important stores, have high vacancy rates and have seen a steep drop in traffic. Low near 35F. Winds light and variable. 5:20-CV-04906 | 2020-10-05. 5:21-CV-00706 | 2021-02-16, U.S. District Courts | Civil Right | [6] Kohan purchased the Jamestown Mall in 2009 for $3.3 million. Hes very nice to work with on the phone. Leaders hope to redevelop the property for better use. Washington Prime Group still owed $27 million. More:Goodbye, Chapel Hill Mall. [9][10] Lincoln Mall was purchased during foreclosure for $150,000 in June 2012, with millions owed in fines and taxes from its previous owners. [102], Mall properties owned by Kohan Retail Investment Group as of 2022 include:[103]. News Staff Reporter Stephen T. Watson contributed to this report. Nobody bid, so the local parish now owns the mall. Kohan did not return requests for comment. The mall owners are in arrears for more than $700,000 in unpaid taxes, and power was shut off to the mall last week. The tenants had received letters from the city warning of the pending disconnection. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Overall, it is a great company to work for. Chapel Hill closed for good in April 2021 and has been demolished to make way for a business park. Great Northern Mall in Onondaga County owed more than $3 million in back taxes as recently as last year. No company culture or communication. [97] The mall would close in later 2021 due to the effects of Hurricane Ida. [24] Prescott Gateway Mall was sold to Kohan for $8.8 million in February 2018, half of what the previous owners purchased it for. Kohan has been taken to court several times over these issues and has narrowly avoided Berkshire's seizure. A check written for an earlier payment had bounced. The company is very understanding and helpful when required. Despite Kohans protestations, the power remained off and the mall remained closed Wednesday. Feb. 15HARLINGEN Valle Vista Mall, purchased by the Kohan Retail Investment Group in 2018, is back on the market. Why is this public record being published online? Today, the 86-acre property has just 17 tenants. Friendly workplace, hardworking staff, great support from management. Ashtabula County not immune to U.S. teacher shortage, Auditors Office kicks off National Weights and, Brainard sentenced to 4 to 6 years in prison fo, EPA opens office near site of Ohio toxic train , CAMPAGNE, Veronica Jan 30, 1927 - Feb 27, 2023, BOWSER, Betty Jun 28, 1933 - Feb 22, 2023, MOORE, SR., Charles Jun 28, 1950 - Feb 24, 2023, Pennsylvania state police drop off disabled homeless man in Ashtabula, Ashtabula County Court of Common Pleas filings, What If? If you are experiencing difficulties logging in or are a subscriber getting a paywall, please try one or more of the following steps. Finally, one place to get all the court documents we need. You have permission to edit this article. Kohans malls shut down intermittently and without warning as was the case with the Berkshire Mall, which shut down for nearly a week and counting after it lost power. The closing of the sale is to be finalized January 18th. High 52F. [58] Indiana Mall was purchased in April 2022 for $6.9 million. Though malls have long been on the decline, the Covid pandemic hit them hard. [89][90] Tulsa Promenade was placed into receivership in July 2019 due to missed mortgage payments and maintenance issues. for $17 million. [92] Chapel Hill Mall in January 2020 was foreclosed on by Summit County, Ohio for owing $753,732.82 in real estate taxes. It is looking into restructuring its $715 million debt on its Syracuse mall, Destiny USA. Ownership also owed $141,081.61 in taxes to Nobles County, Minnesota. "But their host communities have had problems with them, utility companies have had problems, tenants have had problems.". (Wood, Peter) (Entered: 09/19/2022), Docket(#2) Summons Issued as to Kohan Retail Investment Group, Wyoming Valley Mall Realty Holding LLC and provided TO ATTORNEY ELECTRONICALLY VIA ECF for service on Defendant(s)in the manner prescribed by Rule 4 of the Federal Rules of Civil Procedure. First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. At that point, management of the mall was taken up by ProEquity Asset Management Corp. before the sale to the Kohan group. Copyright 2022 WIBW. The mall has been appraised at $203 million. Lycoming Mall in Pennsylvania lost power over late electric bills in 2018 and was almost sold at auction in 2019 over unpaid water and sewer bills. List of properties with unclear ownership. In several instances, KRIG has lost ownership or control of the malls altogether. During Jefferson Parish, Louisiana 's investigation, it was discovered that additional taxes from 1992 were [30] Towne West Square was purchased for $14 million in July 2019. Earlier, Kohan paid off a He does have a way of coming through with the money at the very last moment, she said. Community Rules apply to all content you upload or otherwise submit to this site. In 2016, Kohan bought the Chapel Hill Mall in Akron. The Akron Beacon Journal reported the City of Akron foreclosed on Chapel Hill Mall after Kohan failed to pay $166,000 in unpaid back taxes. He makes a lot of promises.. "We did sell the two boxes (the mall's major store sites). New owner has nearly 40 malls in the U.S. (Wood, Peter) (Entered: 09/19/2022), Docket(#3) SUMMONS Returned Executed by Philip Jewell Sr.. Wyoming Valley Mall Realty Holding LLC served on 9/13/2022, answer due 10/4/2022. 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