Old Greenwich bidding war

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2 Midbrook Lane, $2.6 million asked, 12 days to pending status, which suggests to me that it’s going above that ask. That whole Midbrook-Deep Woods enclave over there: east of Laddins Rock and north of Sound Beach, is a very nice neighborhood, but I’m still struggling to get over sticker shock here. The exact house, in exactly the condition (although everything was brand new then) sold for $1.399 in 2016. I understand that was nine years ago, but I suspect that the same people who could afford $1.4 million houses (or $445,0000 in 1997) haven’t seen their wealth increase in that time to now be able to buy $2.7 million homes; we’re definitely experiencing a demographic change in town.

Everyone loves an auction

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8 old round hill road

A reader has alerted me that, a judgement of foreclosure by sale having been entered, an auctioin of 8 Old Round Hill Road is scheduled for this coming November 15th*. That doesn’t mean an auction will actually take place that date, because these sales are often delayed, sometimes for years, while one or more defendants try various delaying tactics, including filing applications for bankruptcy, which stays all proceedings, but one defendant, Spencer Lambert, has filed a “disclosure of no defense”, another, Attorney Tom Ward, has been dropped as a defendant (Tom was only dragged into the litigation in the first place because he was serving as trustee for certain funds, and never had a dog in this fight), leaving only Spencer Lambert’s ex-wife to drag things out.

Will she? Stay tuned. In the meantime, here’s my original post on the subject from last May (I note that, although the original debt was $18,000,000, the amount claimed due in the pleadings is a mere $4,605,771.09. The plaintiff bought the loan from the FDIC (receiver of the failed First Republic, probably for pennies on the dollar, so what does it care?). And as a further caution, the court-appointed appraiser who valued the property at $8,975,000 did so based on only an exterior examination; it may very well be a wreck inside, and probably is – see below for a recital of ex-wife Sheri’s neglect and failure to maintain the property, including her refusal entry by a plumber to repair a burst water line caused by a failure to keep the place heated.

All that said, it’s 15,645 sq. ft. and an Alex Kaali-Nagy design, built to the highest standards back in 2002, so it should have been able to withstand almost any period of owner indifference; caution is our watchword here.

Back to the topic at hand: here’s that original article, as promised before I got sidetracked:

There's usually a bargain to be found in foreclosure actions, especially when $18,000,000 is due: there should be plenty of room to negotiate

The saga of the 8 Old Round Hill Lane foreclosure action seems to be drawing to an end, especially now that one of the defendants has filed a “Disclosure of No Defense”.

The court docket can be found here.

A cautionary note: the couple has, I believe, long-since been divorced or at least has been involved in lengthy, adversarial litigation*, and the wife, who has been enjoying sole possession of the premises, seems to have neglected to perform needed maintenance on the structure, so who knows what condition it’s in?

*- Police: Woman drove through garage door

Updated Jan 24, 2012 10:04 p.m.

Sheri G. Lampert, 54, of 21 Meadowcroft Road, was charged Monday with breach of peace and second-degree criminal mischief after she drove a vehicle through the garage door of a Doubling Road residence, police said.

Arriving officers observed a woman standing on the front steps of the residence, screaming at the door, police said. The vehicle had front-end damage, with pieces of wood sticking out of the hood, police said.

The garage door was also damaged, police said. Lampert admitted driving the vehicle through the door, according to police.

Lampert is scheduled to appear in state Superior Court in Stamford on Wednesday.

I wrote on this subject 10 years ago: The Curse of Greyledge Continues

Shari Lampert (not the Sears Lamperts) has had quite of time of things since she and her now former husband Spencer razed Col. Bolling’s estate, “Greyledge”, at 133-137 Doubling Road back in 2007. Her latest bid at notoriety is reported today after being arrested for teeing off on her house keeper with a five iron back in June.

One June 29th, police received a complaint of a physical altercation between an employer and her housekeeper. Police say 56-year-old Shari Gay Lampert had a tumultuous argument with her housekeeper and demanded restitution for the alleged damage the housekeeper had done in Lampert’s home while employed there. During the argument, Lampert wielded a golf club toward the victim before entering the victim’s car to take the victim’s purse and remove all of her cash from it. An investigation determined that there was enough evidence to arrest Lampert for larceny and disorderly conduct, police said. Lampert turned herself into Greenwich police Friday on an arrest warrant and was charged. Lampert was released on $2,000 bond and will appear in court August 1st.

Ms. Lambert seems to have some anger issues – she was arrested in January, 2012 for driving her car through the garage doors of her husband Spencer’s new digs, again in May, 2012 for a “domestic dispute”, and, it appears, a few other times as well.

Like Dunellan Hall (Helmsley’s Folly) up on Rogue’s Hill, which has seen nothing but tragedy since it was constructed in 1918 , the Bolling estate’s streak started with the death during WW 1 of Colonel Bolling himself and now, it seems, extends to it’s latest owner. These days there’s nothing left of that estate, but the land remains and can be yours for $10 million (and my guess is for far less). The question is, who would risk the wrath of the Bollings?

*Latest docket entry:

One further caution: there’s no guarantee that the Zebra that came with the place back when it sold to the Lamperts in 2008 for $10,100,000 is still there — it could have gotten waterlogged from that burst pipe, and been removed.

Pending since June, John Street property closed today at just about full price

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170 John Street, 1942 home, 10 acres, sold for $8.5 million, $8.750 asked. Back when I first reported on this, a couple of readers suggested that it was due for some extensive, and expensive renovations, but the buyer came from San Francisco, so Connecticut mansion prices must seem like those of moderate-income housing back home; he can probably pay for both the purchase and all necessary renovations out of the proceeds just from the separate sale of his kids’ treehouse.

(As an aside, out there on the left coast, they think a Boer Car is something made by Elon — we’re made of sterner stuff here, even if we spell it differently.)

Former Madoff property hits the market

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411 Stanwich Road, purchased by the current owner in 2001 from the late Mark Madoff for $5.750 million (who didn’t hang around long to enjoy the sale proceeds) and then expanded from 5,839 sq. ft. to 9,189 sq. ft. —clearly, the purchaser did not invest with Mark’s father, or he’d never have had the money to afford that size addition — has been listed for sale today for $13.750 million. Part of the structure dates to 1846, although you’d be hard pressed to find it. Six acres.

It's a silly gesture, but what the hell, it’s amusing — now do it for all the Death to America crowd that comes to our shores to buy falafel in bulk

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U.S. Bans Iran Diplomats From Costco, Buying Luxury Goods Without Permission

No Costco for you!

President Donald Trump’s administration has banned Iranian diplomats from shopping at wholesale club stores and purchasing luxury goods while in America for the UN General Assembly.

Newsweek reported that the Iranian diplomats love Costco because they can purchase items in bulk that they can’t buy in Iran.

The rule applies to Iranian diplomats who represent the country at the UN all year.

According to The Associated Press, the diplomats need permission from the State Department:

In notices to be published this week in the Federal Register, the department’s Office of Foreign Missions determined that diplomatic memberships in wholesale club stores as well as diplomats’ ability to buy items such as watches, furs, jewelry, handbags, wallets, perfumes, tobacco, alcohol and cars are a “benefit” requiring U.S. government approval.

However, the only country whose diplomats were specifically targeted is Iran. Stores like Costco have been a favorite of Iranian diplomats posted to and visiting New York because they are able to buy large quantities of products not available in their economically isolated country for relatively cheap prices and send them home.

—

The determinations, which were posted online Monday and to be printed Tuesday, said Iranian diplomats and their dependents must “obtain approval from the Department of State prior to: obtaining or otherwise retaining membership at any wholesale club store in the United States, to include but not limited to Costco, Sam’s Club, or BJ’s Wholesale Club, and acquiring items from such wholesale club stores through any means.”

In addition, Iranian diplomats in the U.S. must also receive permission to purchase luxury items valued at more than $1,000 and vehicles valued at more that $60,000, said Clifton Seagroves, the head of the Office of Foreign Missions.

Those luxury items include everything, including fountain pens.

(My father presented me with one of these when I graduated from law school — they were less expensive then, although still pricey — thanks, Dad)

Oh, just stop it!

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Hurricane hype

Run for the hills! The U.K. Daily Mail warns,

Gabrielle surging into major hurricane as forecasters warn of 'life-threatening' impact to East Coast

​Gabrielle is surging into a major hurricane and the storm could soon threaten the East Coast even as it moves away from the US.

The National Hurricane Center (NHC) announced that it had officially became a hurricane Sunday afternoon, after nearly falling apart in the middle of the Atlantic on Friday and Saturday.

However, meteorologists said Gabrielle is now expected to explode into a Category 3 storm over the next day, adding that dangerous conditions could soon threaten beaches along the entire US East Coast.

OMG! So where is the storm scheduled to hit? Umm, England? Perhaps Wales.

How bad is it? The National Hurricane Center reports, as of 11 a.m. EDT,

WATCHES AND WARNINGS
There are no coastal watches or warnings in effect.

Interests in Bermuda and the Azores should monitor the progress of Gabrielle.

Nonetheless, there is a storm to hype. The Daily Mail,

From Maine to Florida, forecasters at AccuWeather sounded the alarm on the potential for rough surf and ‘life-threatening’ rip currents as early as Tuesday morning along that 2,000-mile stretch of America.

So, don’t go swimming in the ocean for a couple of days. Problem solved.

You may have dodged a bullet, this time, but don’t rest easy,

However, meteorologists warned that they’re already tracking multiple storm systems in the Atlantic which could turn into tropical cyclones within the next week as hurricane season may be suddenly ramping up.

Batten down the hatches!

And [In]AccuWeather:

And this, from Realtor.com. for God’s sake:

Hurricane Gabrielle ‘Intensifying’: How Homeowners Along East Coast Should Prepare

“This season has already made headlines, with Hurricane Erin having caused significant damage in August.”

“Much like Gabrielle, Hurricane Erin started as a "tropical wave" while way out at sea. No sooner was it classified as a tropical storm than it was upgraded to hurricane status. Then on Aug. 16, in just 24 hours, Hurricane Erin strengthened in its intensity from Category 1 to Category 5.”

Remember that “significant damage claimed just two paragraphs ago? The editors of this bit of hysteria hope that you don’t, because the next paragraph contradicts the first: “While still a significant storm that caused flooding along coastal towns from North Carolina to New Jersey, damage to homes and communities was minimal.”

One of the few reliable sources for weather from Greenwich to Buzzard’s Bay is the free app, EWeather recommended to me by Susie some years ago, who told me that it’s a huge hit with LIS sailors because the weather nerd running it focuses on Long Island Sound and inland up to almost Hartford. Here’s what he said about Gabriel at 6:36 this morning: non-alarming, calm, and an accurate forecast — of course, he’s not trying to sell anything, so there’s that:

Fourteen days and pending

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60 Meadow Road, Riverside, $5.995 million and probably going for more. Very nice location, on the corner of Willow and Meadow, although I’ve always wondered why no one in its long line of owners has ever done anything to mitigate the rather sparse landscaping in its front yard(s). But it’s remained the same since 1939, so I guess they’ve figured, why change now?

Pretty cool house, and a buyer agrees

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151 Old Church Road, a renovated 1903 mansion on four acres, failed to sell last year at $12.5 million, so this past May John McAtee took on the listing, dropped the price to $11.4 million and, probably more importantly, picked up bales of polar bear skins from Hudson Bay’s going out of business sale and positively festooned the floors with their white hides. Bam!

Interesting to note that Ellen Mosher was the listing agent for the owners last year, and found the buyer for it this time. One way or the other, you aren’t gonna keep that woman down; if she’s determined that she’s going to sell your house, she will.

doubling-down!

al gore even brought a friend to the public open house