Ulster to initiate foreclosure proceedings against assets owing over $10 million in unpaid taxes – Daily Freeman

THE TOWN OF ULSTER, N.Y. — Foreclosure proceedings began Wednesday against a property owner who owes more than $10 million in unpaid taxes over the past decade.

According to a statement from the Ulster County Administration, “Today the county initiated foreclosure proceedings in Ulster County Court against the owner of 701 Grant Avenue, a large commercial building in the town of Ulster.” Based on prior discussions with the parties, we expect the foreclosure to proceed without delay and the county to take ownership by the end of 2022.”

The property is owned by Ulster Acquisition I LLC, a real estate firm located in New York City.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *