Oral arguments in the foreclosure case against Long Island's largest hotel have been set for Jan. 28, according to a New York State courts spokesman
Lenders on a $103 million loan taken out by the 618-room Long Island Marriott Hotel and Conference Center in Uniondale, owned by New York Islanders owner Charles Wang, filed for foreclosure in July after a missed February payment, according to documents filed in New York State Supreme Court in Mineola. Wang purchased the hotel in 2005 as part of his Lighthouse plan to revitalize the Nassau Coliseum, which later fell through. Lawyers for Wang did not respond to a request for comment Tuesday afternoon.
Notices of default on the loan, taken out in 2007, had been sent in February and May.
Court decisions on summary judgement for foreclosure cases typically take between three to six months, or possibly longer, to decide, said Bruce J. Bergman, a foreclosure lawyer and partner at Garden City-based firm Berkman Henoch. A judge must grant a judgment for foreclosure and order for sale for the process to move forward.
The Marriott was granted a 10-year property tax abatement by the Town of Hempstead Industrial Development Agency in 2006 for promising to spend up to $14.2 million on renovations and retain 290 jobs, said Hempstead IDA executive director Fred Parola. He said he does not anticipate any clawbacks of the benefits unless there are mass layoffs. If the foreclosure is granted and the property sold, the benefits will not transfer.