Meaghan M. McDermott

@meagmc

A new chapter for the defunct Medley Centre mall opened on Thursday when businessman Angelo Ingrassia purchased the vacant building and nine adjoining parcels for $100,000.

Ingrassia, former owner of Irondequoit Dodge, Ideal Nissan in Greece and Ideal Chevrolet in Avon, was the only bidder at a Monroe County Sheriff’s Sale that took less than three minutes to complete. The sale was held to satisfy a civil judgement against former mall owners Bersin Properties LLC for more than $400,000 owed to local engineering firm Passero Associates.

Leaving the Public Safety Building after putting down his 10 percent deposit and signing paperwork to assume ownership of the mall, Ingrassia, who is also involved in commercial real estate in the Rochester area, declined comment other than to say “it is a good day for Irondequoit.”

That was a sentiment echoed by local business leaders and government officials alike.

“We are very excited for Angelo to be buying Medley Centre,” said David Flaum, CEO of Flaum Management Company Inc., which purchased the 125,000-square-foot former Macy’s store at the Medley Centre last year. “We’ve been talking to a number of prospective tenants for our building and now that the mall is in capable hands, we’ll be able to finish up some deals we’ve been working on. It’s been a big question mark: who’s going to end up with the mall? And this resolves that question mark.”

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The mall has a long, troubled history. It was built in the late 1980s by Wilmorite Inc. to forestall another developer’s plans for a shopping center in Webster. The Irondequoit Mall was initially well-received: its grand opening weekend drew more than 80,000 people and the site was touted as a higher-end alternative to Wilmorite’s existing malls in Greece, Henrietta and Victor, Ontario County.

Developer David Flaum officially buys Irondequoit Macy's

But rumors of crime dogged the site, sales flagged and the higher-end stores began to close as Wilmorite chose to invest more heavily in Eastview Mall.

By 2001, Irondequoit Mall was nearly 30 percent vacant and was sold off to an insurance company. Developer Adam Bersin bought the struggling site in 2005 for $5.4 million.

His efforts at redevelopment were unsuccessful, and in 2007, he sold the property and company Bersin Properties LLC to Scott R. Congel, then a principal with Syracuse-based developers The Pyramid Cos.

In exchange for a 30-year package of tax breaks, Congel promised a $250 million revamp of the mall to include high-end retail, hotels and restaurants. But that project never materialized, and last year the County of Monroe Industrial Development Agency yanked the tax breaks, leading Bersin Properties to file suit against the agency, the town and the East Irondequoit Central School District. Those three entities countersued, seeking payment of about $4 million in missed payments-in-lieu of taxes and associated fees.

Medley Centre timeline

A hearing on those cases is scheduled in state Supreme Court on Friday morning.

Bersin Properties has also filed suit against its lender Nomura Credit and Capital, claiming the bank’s failure to advance a full $135 million line of credit led to the project’s demise.

Nomura initiated foreclosure proceedings against Bersin Properties last year. With his purchase of the property, Ingrassia assumes responsibility for $44 million owed to Nomura. It is not clear how he plans to work out that debt with the bank.

Congel, in a written statement, said Bersin Properties filed legal paperwork on Thursday advising bidders that the property is still subject “to the claims asserted in the litigation referenced in the Notice against COMIDA, the town and the school district.”

He also said the company’s lawsuit against Nomura is continuing.

Adam Bello, Irondequoit town supervisor, said he has full faith in Ingrassia’s ability to transform the mall site into a success.

“I’m delighted by today’s developments,” he said. “Angelo has a great track record of being able to deliver real projects; he’s really largely responsible for redeveloping Ridge Road. He has the Depot Plaza with the new Tops, the Sonic and where Panera is being built in the spring. And, he has LA Fitness and other projects like that in the region.”

Bello has made it a priority to hold Bersin Properties accountable for the condition of the vacant mall. In 2014, his administration fined the company $100,000 for code violations there, and just this week went to court seeking an additional $96,000 in fines related to uninspected water mains on the site.

Medley Centre owners miss court hearing

“This gives us reason to be optimistic,” he said. “I talked with Angelo this morning and I’m sure we will have conversations in coming weeks about whatever his plans are. But whatever is ultimately developed there and whatever happens, it is critical that it is something that will be sustainable because the last thing we want is another failed project.”

Fred Squicciarini, immediate past president of the Irondequoit Chamber of Commerce, said the business community is excited to see the site change hands.

“This is such a step forward,” he said. “I know a lot of developers will now be looking at Irondequoit with more interest. If you want to open up a restaurant or store on Ridge Road, now will be the time to do that, before the property values there all go up.”

Assemblyman Joseph Morelle, D-Irondequoit, who was instrumental in getting the Empire State Development to pull a separate set of tax breaks away from Bersin Properties, said the sale marks a significant step forward for Irondequoit and county taxpayers.

“I congratulate Supervisor Bello for his unwavering leadership on what has been the most pressing issue facing Irondequoit,” he said. “Working together we will continue to build and shape a brighter future for all who are blessed to call Irondequoit home.”

MCDERMOT@Gannett.com