Adam Hochfelder, a former developer in Nassau County, has been identified as New York’s top delinquent taxpayer, owing more than $48 million in unpaid personal income taxes. This information comes from a recent report by Newsday.
Hochfelder, once known as the “Wharton Whiz Kid” for his role in Manhattan real estate, now leads the state Department of Taxation and Finance’s “Top 100” list of individual tax delinquents. The list is periodically published and features those with active warrants that enable authorities to seize property, withhold income, and block major purchases such as real estate.
A statement from Hochfelder’s legal team to The Real Deal disputes the validity of the taxes allegedly owed. According to his lawyers: “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.” The statement adds that Hochfelder was only a 1 percent partner in the property after selling his stake.
“Hochfelder’s counsel has been working with NY State to get Hochfelder’s 2013 tax allocation corrected.”
Hochfelder has faced other legal issues over the years. 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 on a misdemeanor charge related to an earlier fraud case.
He is not alone among Long Island residents facing large tax debts; more than 20 taxpayers from the area made it onto this summer’s top-100 list. Nassau County residents collectively owe about $68 million. Notable names include restaurateur Zvi Yosef—who owes nearly $3 million linked to his closed kosher barbecue restaurant Chimichurri—and George and Tassos Strifas of East Meadow’s Colony Diner, who also owe close to $3 million in sales tax and have previously settled wage theft and harassment claims.
State officials say publishing the list serves both as a warning and as a means of ensuring fairness among taxpayers. “This list is about transparency and fairness,” a Tax Department spokesman told Newsday, adding that enforcement helps protect those who comply with their obligations from being disadvantaged by others who do not. However, they note that these amounts are small compared with New York State’s overall budget.
