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Sunday, apr 28
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45°
Sunday, apr 28
Tag:
Real Estate Development
Business
Historic Norwalk Bank Building Reimagined Into Healthcare/Banking Center
A historic Fairfield County bank building has been transformed into a modern state-of-the-art medical facility, with easy access for residents, while maintaining a branch of the bank inside. The transformation took place in Norwalk at Wells Fargo Bank at 637 West Ave. in Norwalk for Stamford Health, said Michael Serrao, chief operating officer of Seligson Properties. The $20 million renovation was designed to reposition the existing three-story, 27,000 square-foot building built in 1955 into 24,000 square feet of medical office space for multi-specialty care and physical therapy on the…
Business
Developer Closes Deal On 203-Unit Mixed-Income Housing Parcel In Port Chester
A major real estate developer has closed on the purchase of a fully-entitled parcel in Westchester County that is planned to be a mix of rental housing, retail space, and community facilities. The Hudson Companies (Hudson) acquired a parcel in Port Chester located at 27-45 North Main St. (Route 1) and 28 Adee St. that will be developed into 203 mixed-income residential units in addition to commercial space, according to an announcement by the company from Wednesday, Nov. 9. The future development, which has not yet been named, will feature a mix of studio, one-bedroom, and t…
News
Area Developer Admits To Ponzi Scheme
A real estate developer has admitted to operating a years-long Ponzi scheme that included properties in Westchester. Michael D’Alessio, 53, has pleaded guilty to one count of committing wire fraud and one count of concealing assets from a bankruptcy court. He faces up to 20 years in prison and hundreds of thousands of dollars in fines when he is sentenced on March 22 next year. The elaborate scheme involved defrauding investors of luxury real estate developments in Manhattan, the Hamptons, Westchester and other locales. D'Alessio is the former president and CEO of real estate deve…
Real Estate
Area Real Estate Developer Charged In Investment Scheme
A real estate developer is facing up to two decades behind bars for operating an alleged years-long Ponzi scheme that included properties in the Hudson Valley. Michael D’Alessio, 52, has been charged with committing wire fraud in connection to his elaborate scheme to defraud investors in luxury real estate developments in Manhattan, the Hamptons, Westchester and elsewhere. D'Alessio is the former president and CEO of real estate development firm Michael Paul Enterprises in White Plains. A career real estate developer and contractor, D’Alessio was the CEO of an investment and development fi…
News
ID Released For Man Struck, Killed By Metro-North Train
Officials have identified the man fatally struck by a train near the Fairfield Metro-North as MTA Police detectives continue their investigation. Fairfield resident Alfred Lenoci, Jr., 55, was fatally struck by the train at approximately 5:15 a.m. on Wednesday morning, a Metro-North spokesperson said, when the 4:37 a.m. train from New Haven, due into Grand Central at 6:34 a.m., fatally struck him west of the station, near Grasmere Avenue in Fairfield. Lenoci is a well-known real estate developer who served prison time and was convicted in 2001 for his role in the corruption investigation of…
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