Popular Rockland hotel bankrupt amid allegations ex-manager stole over $1M

Posted: Updated:
NYACK -

A popular hotel in Rockland is now bankrupt amid accusations that a former manager stole more than $1 million.

The Time Nyack Hotel opened up two years ago and is considered a local hotspot.

Despite its appeal and popularity, the $20 million hotel on High Avenue is now bankrupt and $40 million in debt, according to court documents.

A federal judge approved the Chapter 11 designation on Tuesday amid investor allegations that former manager Edgar Costa stole more than $1 million by forging documents and hacking emails.

At this point, no charges have been filed against the former manager and the future of the hotel remains unclear.

A court appointed trustee will now oversee The Time Nyack Hotel's assets and comb through its books.   

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."