Sales, contracts, and price cuts

3 Mill Pond Court

3 Mill Pond Court

3 Mill Pond Court, Cos Cob, asked for $769,000 and sold via multiple bids for $775,750.

14 Cove Ridge Lane

14 Cove Ridge Lane

14 Cove Ridge Lane, a tear-down directly across from the Fountain hovels on Ole’s Creek, sold for $2.787,500, bless its heart.

10 Perryridge

10 Perryridge

10 Perryridge Road, asking $1.675 million, reports a contract. 

Greyledge - ugly is as ugly does

Greyledge – ugly is as ugly does

And 137-133 Doubling Road, three building lots, is marked down today to $9.250 million, a substantial discount from when it first appeared on the scene in Juy, 2011, asking $15.5 million. This was the site of the old Bolling estate, “Greyledge”, which these sells purchased for $7.6 million in 2000. They tried unloading it in 2004 for $8.2 and when they couldn’t, they purchased an additional bit of land, tore down Greyledge and have subsequently kept the police blotter (well, the ex-wife has) busy with their light-hearted frolics. In fairness to the couple, who were called historical vandals and worse for knocking the pile of stones down, it was truly one ugly house, and won’t be missed – not by me, anyway.


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That’s not true, actually; he’s got his fellow Democrats, and always has

Democrats flee the convention

Democrats flee the convention

“There’s a massive disconnect between The White House and everyone else”, Democrats are claiming, but that’s whistle thinking, not reality, as Obama himself just reminded voters: Democrats have supported my agenda”

The Hill:

President Obama delivered a blow to Democratic Senate candidates looking to distance themselves from his flagging approval ratings Monday, saying lawmakers avoiding him on the campaign trail were “strong allies and supporters” who have “supported my agenda in Congress.”

The fact that he’s exactly right is irrelevant to his fellow Democrats, who are seeking cover, cover which he just denied them. In Washington, that’s called “throwing them under the bus”, but his colleagues should have realized long ago that with Barry, it’s all about him; hurt his feelings at your peril.


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Okay, if not Snickers bars, how about nose candy?

Teacher's orders: taking a break from cocaine during school recess.

Teacher’s orders: taking a break from cocaine during school recess.

Edinburgh schools distribute pamphlets on “safe” drug use to 13-year-old students.

The leaflet, which targets pupils as young as 13, gives ‘safety tips’ on how to take illegal substances and was produced by Edinburgh council and the city’s Drug and Alcohol Project.

The booklet includes street names for drugs, the ‘effects and risks’ of taking them and finally ‘safety tips’ for those ‘determined to use’ drugs.

Pupils are advised to ‘sleep well’ before and after using cocaine, avoiding mixing with alcohol, to ‘wash out your nose after each session’ and to ‘avoid sharing rolled-up bank notes or straws’.

When taking MDMA or ecstasy, children are told to ‘start with a half a pill and wait at least two hours before re-dosing’ and to ‘sip water regularly’ but no more than ‘one pint an hour’. They are also advised to ‘take regular breaks from dancing to cool down.’

Agnes Morrison of the Maxie Richards Foundation, an anti-drugs charity said: ‘I don’t know why anybody would put out a leaflet telling teenagers the safe way of taking drugs.

‘There is no safe way to take drugs. Drugs destroy people so why would you want to put together a leaflet?

‘I’ve never come across anything like this. I know they are putting them in schools and that there is other educational information in there.

‘But a lot of kids who do not know anything about drugs might read it and get the impression that there is a safe way to take drugs.

‘It’s like saying “here are 10 easy ways to take drugs”. The only safe guidance against drugs is not to take them at all.’

But Gael Cochrane, a development officer for the Edinburgh Drug and Alcohol Project which is leading the project, said it was the best way to keep teenagers safe.

She said: ‘Some young people will look things up on the internet but many will not. Without all the facts they are in a more dangerous situation.

‘We completely accept there are going to be young people who don’t take drugs or drinks or have sex, and we would support them in that. ‘But they are a small group, as are the ones who are taking lots of drugs. It’s the majority who are undecided.’

Nice of her to lend her support to that “small minority” and reach out to the undecided majority to ease them over to the dark side. Edinburg already enjoys the reputation of being one of the most booze-addles, drug-ingesting cities in Great Britain, and this campaign can only help sustain that ranking. It’s good to be Number One in something.



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It’s a new world, but not necessarily a better one

Stanwich Club Pool Party costume

Stanwich Club Pool Party costume

Children are now asking for cash on Halloween instead of candy. The image of bands of creepy-crawly spawn of millionaires swarming into neighborhoods and demanding money is …troubling.

On the other hand, I sympathize with the kids, many of whom come from homes ruled by hysterical mommies who won’t allow their precious to eat candy (unless it’s candy on a stick, like Whole Foods new product, Paleo-Pops, wrapped up with spurious claims of nutrition), and the old practice of bringing candy to school to trade with friends has been replaced with Obama Lunches; still, there will be no ATM at the Fountain household tomorrow night. These kids can get their cash the way their hedge fund fathers do: steal it.


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And speaking of getting screwed on Wall Street …

Better days: Ms. Kelly at her Sag Harbor booking

Better days: Ms. Kelly at her Sag Harbor D.U.I. booking

There’s a wonderful divorce going on between a jilted wife and her wealthy Wall Street husband, and as usual, the NY Post has the story.

Christina Kelly says her investment-banker husband made her go the extra mile to help him land a client — pushing her into a partner-swap with the business honcho and his wild girlfriend.

The mom of two revealed details of the kinky alleged hookup — and every drug binge, extramarital pool fling and sex encounter in between — in salacious Manhattan court papers targeting her husband, Jefferies & Co. wunderkind Sage Kelly.

And now, she and her reputed real-life “Wolf of Wall Street’’ hubby are “the talk of the town,’’ a Wall Street source said.

“All the top Wall Street and hedge-fund guys are talking about it. They are all ­e-mailing it to each other,’’ the source said of Christina’s 26-page affidavit.

Christina Kelly alleges in nearly every page that her $7-million-a-year hubby is nothing but a coke- and Ecstasy-loving, booze-swilling, abusive spouse and dad who lives for seamy sex romps.

Christina, 39, said her husband, 42, was trying to woo Aegerion Pharmaceuticals honcho Marc Beer the night she wound up having sex with Beer — and “sexual contact’’ with his prancing, big-breasted girlfriend, according to the papers.

The former Ralph Lauren event planner said the sex jaunt occurred in a hotel room at the Ritz-Carlton in Boston in 2012 after a booze- and cocaine-fueled evening.

“Soon, Sage and I were having sex with each other on one bed, and Marc and his girlfriend were having sex on the other bed,’’ Christina says in her affidavit.

“Then, Marc said, ‘Let’s switch,’ ” she claims in the papers.

Public access to the actual affidavit has been blocked, but it seems everyone on Wall Street has a copy (and off the street – a friend mailed me a copy, but I don’t have the technical expertise to link it here), so ask around. The Post article captures the essence of the claims, however, and has enough details to satisfy all but the most salacious minds, such as mine.

UPDATE: Link to affidavit here


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Beware junk food nostrum peddlers when choosing an investment advisor

Marty and Kim pitch suckers

Marty and Kim Sands pitch suckers

Greenwich resident Martin Sands is in trouble with the SEC, again.

The Securities and Exchange Commission charged a Greenwich resident Wednesday with violating the “custody rule,” which is aimed at protecting clients from unscrupulous investment advisors.

Martin Sands, 53, who lives in Greenwich’s backcountry, was one of three top executives at New York-based Sands Brothers Asset Management charged this week. According to the SEC, Sands, along with his brother, Steven Sands, have been sanctioned by the SEC for custody rule violations before, back in 2010.

Sands, who recently launched Paleo Passion Pops, a new Greenwich-based company that sells healthful popsicles containing all natural ingredients, was previously censured by the SEC in 2010 for willfully aiding abetting and causing SBAM’s violation of its custody rule then, according to the SEC.

In addition to the 2010 censure, the SEC notes in the order instituting administrative and cease-and-desist proceedings filed Wednesday, that Sands “has been sanctioned by the securities authorities in Wisconsin,” and “twice been temporarily barred from association or suspended from holding supervisory positions, censured and fined by the New York Stock Exchange.” The SEC also alleged that the firm “has also been the subject of a number of customer complaints concerning misappropriation of assets, at least one of which resulted in an NASD arbitration award of $2.15 million.”

Sands, readers may recall, is the neighbor of Judge Judy’s on LaFrantz road who built an illegal lacrosse field on his property, sending runofff cascading onto hers. The NYT reported, 

The Sheindlins said the field is illegal because it was built without the proper permits and wetlands approval. They also said it infringes on their privacy.

”When we complained, Mr. Sands’ response was he would buy our home,” Ms. Sheindlin said. ”We love our home and suggest he use that money to purchase a site for his sports field in a properly zoned area.

Sands has an extensive history of refusing to pay customer arbitration awards

Sands Brothers & Co., a private company formed in 1990 by brothers Martin and Steven Sands to cater to wealthy investors, has the right to continue appealing the awards and to make settlement offers that are lower than awarded amounts, said Richard Roth, a New York attorney who represents Sands Brothers & Co. and the two founders. He denied that he threatened that the firm will not be able to pay arbitration awards if clients don’t agree to lowball settlements.

“That’s only somewhat accurate,” Roth said of his settlement strategy. “I have been telling investors that they (Sands Brothers & Co.) have filed to withdraw as a broker-dealer, and if they want to settle, there is money that has been set aside. I do try to get them down to as little as possible – I’ve settled from 1.5 cents on a dollar to 10 cents on a dollar.”

Another disgruntled Sands Brothers investor has compiled a nasty docket of previous sanctions, awards and orders against the firm and its principals, which you can find here, and our own state’s Banking Commission recites a history of wrongdoing here.

I spent much of my first career hunting wicked stock brokers and their ilk, and I can usually smell an arrogant, above-the-law crook when he weaves his sweaty path past my nostrils. I’m sure Mr. Sands isn’t that sort of fellow; indeed, I never encountered him in my own cases, but when a person with his sort of disciplinary history expands into pseudo-health foods, my olfactory senses stir to life.



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Conyers Farm property woes continue

74 Upper Cross Road

74 Upper Cross Road

74 Upper Cross Road, which sold for $13.5 million in 2012 and came back on in August of this year at $13,890, dropped its price today to $11.800. Considering that the Stockman property just sold for $13.150, it’s a fair assumption, especially since David Ogilvy had the buyer for Stockman and the listing for this one, that the Stockman buyer saw both houses and preferred Stockman’s over this. Given the paucity of buyers for homes up here, the owner of 74 may regret not dropping his price sooner and capturing that buyer.


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