By Christine DunnJournal Staff Writer
PROVIDENCE –– Three new lawsuits seek the return of deposits for luxury condominiums at the 22-story tower which opened in June at the exclusive Carnegie Abbey resort and golf club in Portsmouth.
The plaintiffs include Dr. James Yashar of Florida, a physician who formerly lived in Providence’s East Side; Richard J. and Jody E. Martin of South Salem, N.Y.; and John R. Ranelli and G. Ashley Davis-Ranelli of Niantic, Conn.
All three complaints claim the right to refund because the developer issued a “Supplement to a Public Offering Statement” on July 15, 2009.
The complaints state that under Rhode Island law, the buyers “have the absolute right to cancel” their purchase agreements within 10 days of receipt of an amended statement; and that all the plaintiffs exercised their rights to cancel on July 21.
“We’re not going to be able to comment … on the advice of legal counsel,” said Edward T. Lopes, Jr., senior vice president of development for O’Neill Properties Group. Lopes guided the tower construction, which cost in excess of $80 million.
A similar lawsuit brought earlier this year by noted Democratic Party fundraiser Mark S. Weiner and his wife, L. Susan Weiner, of East Greenwich, appears to have been settled out of court. The Weiners had sued for the return of their $219,300 deposit.
To date, only one of the 79 condos at the Carnegie Tower has been sold; unit 805 closed on Sept. 2 for $1.6 million.
(hat tip, Pat M)
I haven’t tried it yet but according to Information Week, it is supposed to bring a little more competition to Zillow.com and the like. That sounds good. Zillow has been getting better and better, but competition should speed up that improvement.
Peter Brant’s divorce case has produced some interesting details on how a silly heir with too much money squanders it – it didn’t all go to “Santa with Butt Plug”, although he spends hundreds of thousands of dollars a month supporting his “art” museum.
Yes, there is another half and they do live lavishly.
A Superior Court judge in Middletown recently issued an order in the divorce case of newsprint magnate Peter Brant, of Greenwich, and his wife, former Victoria’s Secret model Stephanie Seymour, that sets out the financial ground rules while the divorce is still pending.
Starting Oct. 23, Brant, who lists assets of about $490 million, was to begin paying his wife of 16 years $270,000 a month in alimony and support for their three children, according to the order of Judge Elaine Gordon.
But that appears just to be drop in the bucket to what Brant is worth, according to the judge’s decision.
The decision states that Brant’s monthly net income this year has been $1.552 million.
The family lives on White Birch Farm in Greenwich, a property solely owned by Brant. The farm, which Brant describes in court documents as a working farm, is 200 acres. It has also been home to a professional polo team supported by Brant. Documents state that Brant is in the process of dismantling the team and selling or giving away “40 some odd,” polo ponies he owns. He states that some of the ponies which are “not worth much,” $10,000 to $15,000, have been given away to colleges or universities.
The Brants live in a house on the farm described by Brant as being in the style of Mount Vernon, the home of George Washington. It is between 10,000 and 20,000 square feet.
“Puppy,” a very large sculpture by modern artist Jeff Koons. Brant pays maintenance of the sculpture of between $75,000 and $100,000 a year. Also on the property is the Venturi House, a 5,200- square foot home designed by architect Robert Venturi.
In addition, the family has two other multimillion-dollar homes, one in Sagaponack, N.Y., and the other in Palm Beach, Florida.
The Brants have a staff of seven in their home and another 15 work the farm. He contributes $500,000 a month to support the farm.
His financial affidavit shows that Brant spends about $30,000 a month on household supplies, which he states may be anything from “toothpaste to towels.” Brant donates $216,000 a month to the Brant Foundation, which maintains an art museum across the street from White Birch Farm.
This past summer Brant took his children on a one-week trip to the south of France. He chartered a 150-foot yacht for $300,000.
According to Brant, his newsprint business is suffering from lower demand and prices and business is off 20 percent in the last two years. But, he says, he is making efforts to control costs in a difficult market.
Reject wage concessions, leaving Ford to try to compete with government-owned competitors paying lower wages. All I can figure is that these bozos hope Ford will fail so that they, too can become government employees. I’m really not going to feel sorry for them when they go down.
No word on identity (any interested reader can call down and find out – it’s a public record) but word is the cops nabbed someone last night at the Lake Avenue circle. He was stealing signs of both political parties, apparently fueled by a desire to beautify his neighborhood and, possibly, a few too many scotches. He couldn’t post bail, which is why he is being held until Monday, and his lack of ready cash makes me wonder if he’s not a Round Hill Road resident. Ric? Walt? You guys still at home?