Adam Hochfelder, a former developer in Nassau County, has been named New York’s top delinquent taxpayer, owing more than $48 million in unpaid personal income taxes. The information comes from Newsday and is based on the latest “Top 100” list published by the state Department of Taxation and Finance.
The department’s ranking highlights individuals with active tax warrants. These legal actions allow authorities to seize property, withhold income, and block major purchases such as real estate.
Hochfelder’s legal team disputes the amount he allegedly owes. In a statement to The Real Deal, his lawyers said: “In 2013 when 1440 Broadway was sold, Mr. Westreich issued an erroneous K-1 to Mr. Hochfelder improperly allocating $50 million in profits to Hochfelder, nine years after Hochfelder had sold his interest in 1440 Broadway to Westreich in 2004.” According to the statement, Hochfelder was only a 1 percent partner in the property after selling his interest.
“Hochfelder’s counsel has been working with NY State to get Hochfelder’s 2013 tax allocation corrected.”
This tax dispute adds to Hochfelder’s troubled history. He was convicted in 2008 for defrauding family and friends out of $17 million intended for resort investments and later served two years in prison after stealing another $2.5 million. In 2019, he pleaded guilty again to a misdemeanor charge related to an older fraud case.
More than 20 Long Island taxpayers appeared on the state’s delinquent list this summer, with Nassau residents owing a combined $68 million. Notable names include restaurateur Zvi Yosef, who owes nearly $3 million connected to his closed kosher barbecue restaurant Chimichurri, and George and Tassos Strifas of East Meadow’s Colony Diner, who owe close to $3 million in sales tax and have previously settled wage theft and harassment claims.
A spokesperson for the Department of Taxation and Finance described the list as both a warning and an effort at fairness: “This list is about transparency and fairness,” the spokesman told Newsday. The official added that enforcement helps protect those who comply with tax laws from being undercut by others but noted that these amounts are relatively small compared with New York State’s overall budget.
