A family feud is fracturing a real estate business with properties in Yonkers and New Rochelle, according to a recent lawsuit.
Angelo Marchetti sued Anna, Tania and Rebecca Marchetti on Aug. 21 in Westchester Supreme Court, claiming that they have conspired to undermine his half of the family enterprises.
The complaint does not explain the familial relationships but dates the dispute back to January 2021 when Angelo, of Manhattan, and Anna, of Yonkers divided ownership of their real estate entities.
Angelo got an apartment building on Prospect Street, New Rochelle, and apartment buildings on Linden Street and Pelton Street in Yonkers.
Anna became the owner of J.R. Properties of Yonkers and four apartment buildings on Hawthorne Avenue, Park Hill Avenue and Oak Street in Yonkers.
Angelo and Ana agreed that MG Target Realty Inc., a commercial real estate management company operated by Anna and Tania, would manage all seven buildings, according to the complaint, and that all expenses, employees and resources would be split equally between the properties.
Tania, as managing agent, was responsible for payroll, vendor payments, rent collections, tenant relations and repairs.
Angelo says he paid his half of the expenses but did not get his fair share of services.
His properties “descended into a state of disrepair,” the complaint states, and “placed the corporate assets on the verge of bankruptcy.”
He claims that MG Target Realty resources were diverted to outside investment properties owned by Tania, Rebecca and her husband, and to a private home owned by Anna’s four daughters.
Angelo also accuses Tania of embezzling $250,000 from rental income and receiving $250,000 in management fees for work not performed.
The complaint charges family members and corporate entities with breach of fiduciary duty, conspiracy to commit breach of contract, conversion of assets and fraud.
Angelo is demanding payments for alleged damages ranging from $120,000 to $500,000.
Tania and Rebecca Marchetti did not reply to emails asking for responses to the allegations. Attempts to find contact information for Anna Marchetti were unsuccessful.
Angelo Marchetti is represented by New Rochelle attorney Rachel F. Ciccone.
