×

Kohan sells mall parcel to Cocca Development

BOARDMAN — The owners of the Southern Park Mall have sold a parcel of the property to a local real estate developer.

According to online records from the Mahoning County Auditor’s Office, Southern Park Mall Realty Holding, LLC — a subsidiary of New York-based Kohan Realty Investment Group — sold a 1.13-acre parcel at the southwest corner of the mall property to FIDC 184 LLC, for $350,000, on Jan. 23, exactly 13 months to the day since Kohan bought the mall.

The address for the buyer, FIDC 184, is 100 DeBartolo Place, Suite 400, the same as Cocca Development. The sale price is approximately $70,000 lower than the auditor’s appraised $420,990 value for the undeveloped parcel, which is located immediately to the east of Market Street and immediately south of Stadium Drive.

Long-Island-based Kohan bought the mall’s seven parcels on Dec. 23, 2024, for just over $24 million. But the developer, which has a somewhat notorious national reputation for failing to pay taxes and employees and letting properties, mainly malls, fall into disrepair, soon drew the ire of township and county officials.

Kohan’s failure to pay first- and second-half taxes for 2024 brought them into the sights of Mahoning County Treasurer Dan Yemma as well as Boardman Township trustees. Township Administrator Jason Loree said in November that the township’s share of the unpaid property taxes would translate to a $200,000 to $300,000 cut to this year’s budget. That was after Loree and Mahoning County Commissioners expressed frustration at the abrupt closing of the mall that month after Kohan failed to pay mall employees, and the company’s subsequent lack of communication.

Trustees repeatedly stated that Kohan did not return any of their phone calls and attempts to meet in person with corporate leadership never materialized. General Manager Vincent Taylor resigned after the closure, and Boardman resident Bill McClure was hired to replace him in December, the same month Kohan suddenly paid its delinquent tax bill in full.

Auditor Ralph Meacham’s website showed that Kohan owed at least $937,840 for 2024.

Yemma said Kohan sent a check June 13 for first-half property taxes — $437,834.11 — in the amount of $505,675.49, to cover fees and interest, and that check was returned. Again on June 30, Kohan sent a payment for first-half taxes, which may also have included a partial penalty payment, in the amount of $525,689.63. That check also was returned. On July 3, Kohan sent another check for $495,125.23, which again was returned.

But in late December, almost a year to the day since purchasing the mall, Kohan made a $1,063,789.40 payment to cover the entirety of the tax debt, including $119,454.14 in penalties and interest.

Yemma said at the time that Kohan requested some mitigation of the penalties and interest before sending the check. Yemma rejected the request and said Kohan did not push the issue.

A call to Cocca Development seeking comment on the purchase was not returned Friday. Yemma said he knows Cocca to be a reputable company and that they have already paid the full year’s property taxes on the parcel for 2026.

Starting at $3.23/week.

Subscribe Today