Brian Howard of the Journal News:
The developer of the Trump Park Residences luxury condominiums intends to pay [Yorktown] at least $1.1 million in back taxes and penalties as soon as next week.
Joe Apicella, vice president with Hawthorne-based Cappelli Enterprises, called the payment a show of good faith in anticipation of settling a long-running tax assessment dispute over the Shrub Oak property.
“From our standpoint, we also have to put to rest what we believe to be excessive assessments on these properties that in large part have remained vacant for the last several years,” Apicella said. “It’s hard to penalize the property owner if the units aren’t sold or occupied.”
Sound familiar? And since when is paying property taxes a “penalty”? Was Capelli planning on splitting the profits from the deal if he made money?