Rockland County finance, bankruptcy, environmental, employment
The Time Hotel of Nyack today sold at auction for $18.5 million to Juniper Time LLC but the fate of the hotel won’t be settled until a court hearing before United States Bankruptcy Judge Robert D. Drain on March 25th in White Plains.
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A bankruptcy trustee has agreed to give property owner John Magee until July 16th to sell Bradley Industrial Park
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Footwear retailer Payless ShoeSource will close all of its 2,300 stores as it enters its second bankruptcy in less than two years.
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The Time Hotel, which positioned itself as a boutique property for urban tourists and business travelers, has been filling its rooms since it opened in May 2016 in Nyack. It remains a draw, despite the fact that the 133-room hotel has been in bankruptcy since July 2018.
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Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open.
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Sears in Nanuet will shutter its store but who will be the beneficiary? The store’s closing will leave a major hole in the Shops At Nanuet shopping center but it represents an opportunity for development. Sears owns the 1960’s, 184,522 square-foot building, as well as the 13.54 acreage it sits on.
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