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Lender files foreclosure action on Rochester ice rink
Visions Federal Credit Union has initiated foreclosure proceedings due to missed mortgage payments by the owner of Paul Lewis Arena in Rochester. (Photo by Kevin Oklobzija)
Visions Federal Credit Union has initiated foreclosure proceedings due to missed mortgage payments by the owner of Paul Lewis Arena in Rochester. (Photo by Kevin Oklobzija)
Lender files foreclosure action on Rochester ice rink
Listen to this articleVisions Federal Credit Union has initiated foreclosure proceedings on Paul Lewis Arena, alleging the mortgagor and note guarantor owe nearly $670,000.
The lender filed papers in state Supreme Court in Monroe County on Wednesday, declaring the loan to be in default and contending there is a balance due of $667,154.87 as of June 16.
Skating Institute of Rochester, Inc., through guarantor Thomas Masaschi, failed to make payments from June 2025 through September 2025, and also failed to pay the balance due on Oct. 9, 2025, the loan’s maturity date. Those delinquencies triggered the default, the complaint states.
Located at 1 Boys Club Place in downtown Rochester, Paul Lewis Arena opened in 1955 and was formerly known as Skating Institute of Rochester. The rink hosts youth and adult hockey as well as open skating.
Masaschi bought the facility early in 2014, just months before it was slated to close due to prolonged financial problems. The original Visions FCU loan on the property was for $907,500, and Masaschi “personally the guaranteed the payments,” the complaint states.
In signing a forbearance agreement in July of 2023, the mortgagor acknowledged a balance of $663,781.55 was still owed, court papers say.
Van Hook Service Co., Inc., and U.S. Income Partners, LLC, are named as co-defendants in the lawsuit because they have judgments pending against Skating Institute of Rochester, Inc.
The Visions FCU complaint contends its foreclosure action has priority over those previous judgments.
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