Daily Archives: September 2, 2014

Your fund dollars at work

Thanks to all you kind readers who contributed to The John Fund, John, assisted by his sister Sarah, moved out of a friend’s apartment in Portland today and into a   cottage in Scarborough, 10 minutes or so from the Portland hospital, but a mere block from the ocean. A portion of the money raised has enabled him to invite his long time (since Riverside School kindergarten) friend Jordan to move up to Maine to stay with him. Jordan’s a fantastic artist but that doesn’t pay well, usually, so he gets a place to stay, John has companionship and someone to keep him in groceries and get him to medical appointments. Sarah and Pal Nancy are nearby, but Jordan will be a real enrichment for John and, with Winslow Homer’s Black Point studio around the corner, maybe an inspiration for Jordan.

So here are some pictures of the new digs – John had round II of chemo today, and they sent him off with his poison-pac he’s named “Tonto” so that, he says, he can be known as “Chemosabe”. He’s a wise ass, like his proud father.

Scarborough cottage

John and Tonto at Camp Mucky-Muck

Tree

Tree

Looking west over the tidal marsh

Looking west over the tidal marsh

An hour ago

An hour ago

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And still more shocking behavior from the Wall Street crowd

Internal investigation reveals that Credit Suisse traders sent off-color jokes and watched porn at work. OMG, nothing like this has ever happened in the trading community before. Oh, the humanity!

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Not every hedge fundy is this arrogant, but put delicately, this one’s behavior is not particularly shocking

hedge fund zoom-zoom

hedge fund zoom-zoom

SAC portfolio manager Paul Orwitz arrested for reckless driving and doing other rude things.

Paul C. Orwicz, 46, of 1483 Ponus Ridge Road, New Canaan, was arrested Aug. 28 on charges of reckless driving, improper passing and disobeying officer signal.

A police officer driving an unmarked Chevrolet Tahoe on Wahackme Road at about 9 p.m. looked at his rearview mirror and saw a yellow McLaren following him very closely, according to police.

As the officer continued driving at the posted 30-mph speed limit, he noticed Orwicz driving over the double yellow line and eventually passing the police vehicle, the report stated.

The officer activated his lights and stopped the car near Bayberry Road, police said. The officer then radioed the plate number to police and right before leaving the vehicle to speak to the operator, Orwicz took off at a high rate of speed toward Weed Street, according to the report.

Paul Orwicz Race Team

Paul Orwicz McLaren Race Team

Since police had the suspect’s information, the officer did not chase Orwicz but instead headed to his Ponus Ridge Road home along with officers, police said.

As he was taken into custody, Orwicz said “taking off was a stupid decision” but he said he “didn’t understand why the officers were at his house because he didn’t kill anyone or damage any property,” according to the report.

He was released on a $1,500 bond and is scheduled to appear in court date Sept. 8.

Mr. Orwitz tried his hand at running his own hedge fund back in 2010, but returned to Mothership Cohen less than a year later when his trading strategies flopped. Perhaps that disappointment soured his mood.

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And speaking of nude sunbathers, FWIW reader Mickster sends in this from St. Barts

(Former) Cos Cob Food Mart

(Former) Cos Cob Food Mart

Porricelli’s sells off its Cos Cob and Old Greenwich properties.

GREENWICH, Conn., Sep 02, 2014 (BUSINESS WIRE) — Urstadt Biddle Properties Inc. announced today that it has acquired two properties totaling 89,000 square feet in Greenwich, CT.

The first property is a three story 48,000 square foot mixed use property located on the Boston Post Road (Route 1) in the Cos Cob section of Greenwich, CT. The property is anchored by a 15,600 square foot CVS Pharmacy and other retail tenants including Robek’s, Domino’s Pizza and Member’s Credit Union. The property also contains second floor offices and third floor apartments. The property was built in 1986 and originally was occupied by the well know Porricelli’s Market before a conversion to CVS in 2008. The property is currently 97% occupied and is well protected from new competition due to the high barriers to entry and the lack of developable land in Greenwich.

The second property is a group of contiguous two-story mixed use properties located at the intersection of Sound Beach Avenue and Arcadia Road containing 41,000 square feet. It comprises almost a square block in the Old Greenwich section of Greenwich and is adjacent to the Old Greenwich train station. The property is anchored by a newly renovated 18,200 square foot King’s Supermarket, which replaced another Porricelli’s Market in 2013.

Some years ago, when Porricelli’s closed its Cos Cob market, local rumor had it that the family had rejected an offer from Trader Joe’s to lease it and rented it out instead to CVS so as to protect its Old Greenwich grocery from competition. Now both stores are gone, Cos Cob has no grocery store and Greenwich has yet another CVS. If the rumor was true, the Porricelli’s did us no favors.

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Crime wave smashed in New Canaan

Late to the party: Jonathan Cleworth celebrates Cinco de Mayo in August

Late to the party: Jonathan Cleworth celebrates Cinco de Mayo in August

Police arrest man for sunbathing nude in his own back yard.

Jonathan Cleworth, 60, of 81 Locust Ave., Apt. 311, New Canaan, was arrested Aug. 25 on a charge of second-degree breach of peace.

Police said Cleworth has been sunbathing nude in his backyard for several years, which has made neighbors uncomfortable.

An 80-year-old neighbor, who lives in a multi-family three-story building next door to Cleworth, called police at 11 a.m. Aug. 25 to report that he “was tired of” Cleworth’s behavior, according to police.

An officer approached Cleworth’s home from the backyard and indeed found the man sunbathing nude, police said. Although there were sheets blocking the view to his backyard from the ground level, police said the man could be from higher-level houses in the area.

A female neighbor, for instance, told police Cleworth is “out there all the time,” which makes her uncomfortable, but she never actually called the police, according to the report.

Police said Cleworth admitted he likes “to do that once in a while.”

He was released on a promise to appear in court Sept. 11.

I rather doubt that the man’s activity rises to the level of second-degree breach of peace, but regardless, wouldn’t a serious chat with the fellow have accomplished as much? I think we arrest too quickly, and criminalize too much ordinary behavior these days.

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185 W. Old Mill Road closed

185 W. Old Mill Rd

185 W. Old Mill Rd

An 1800’s cottage, sold for $1.275 million. Owners paid $1.6 for it in 2004 pretty much the day it came up for sale, and have had ample time since to regret their haste. At the time they bought it, the land around this home had been whittled down to just 0.4 of an acre which, in the 4-acre zone, made it impossible to expand by even an inch. They purchased an additional 0.6 of an acre from their neighbor and hired David Ogilvy to put it back on the market in 2008 for $2.375 but, even with a full acre it failed to sell and its listing was allowed to expire after a year. In 2012, David Ogilvy brought it back on at $1.395, a not-unreasonable figure, and now, 819 days later, it’s sold.

Interesting that,in all those years it was for sale, not a single shot of its interior was ever posted. It must have some charm, however, because unlike the houses discussed earlier, this is very much not a land value sale.

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Pending sales

553 North Street

553 North Street

553 North Street, reported last month as having an accepted offer, is now fully under contract. Asking price was $1.995 which would seem to be just about its land value, even though it has a perfectly nice, if unexciting house. Again, one of those “free house” deals.

5 Indian Head Rd

5 Indian Head Rd

5 Indian Head Road, $2.195, half-acre, may also be a land sale although again, perfectly nice house, so a decent deal for a family that just wants in to Riverside. Buy land, get a house tossed into the deal, free? Not bad.

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Two more sales reported from last week

223 Glenville Road, $1.725 asked, sold for $1.550 million. As is its new practice, the Greenwich Association of Realtors has expunged the public data on this property, but I don’t see why; the internet sites are still no direct competition for able agents. For instance, this online “estimate” suggests it was worth between “$1,716,048 and $2,018,880 million“. Such scientific precision, it must be right! An agent with local knowledge and a brain is still able to offer added value.

100 Orchard Street

100 Orchard Street

100 Orchard Street, built in 2008, sold for $1.625 million. Zillow estimate, $1,887,504.

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C***k teasers

Old fashioned male robot chases new fangled girl one, while we real guys are left in the dust

Old fashioned male robot chases new fangled girl one, while we real guys are left in the dust

First the Japanese come up with such attractive sex robots that no man will ever need, or want a wife again, then they go and invent the fastest running robot in the world. Put the two together and we’ll never get laid.

Walt would probably say this is their revenge for our attack on Pearl Harbor.

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Back for another shot, price unchanged

895 Lake Avenue

895 Lake Avenue

895 Lake Avenue, north of the Merritt by Burying Hill, hasn’t sold since last September for $10.950 million but its builder won’t quit trying. It’s a nice house by a good builder (BSF), but 11,000 sq.ft of home this far north of town is apparently a hard sell. Besides, to my eye, all BSF homes look pretty much the same.

BSF paid $3.187 for the land (and its 1978, already obsolete contemporary) in early, pre-crash 2008, then tried to unload it a year later for $3.495. Finding no takers, the place sat untouched until 2012, when construction of this house began, and when complete, was put up for sale.

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And speaking of returns, 218 Clapboard Ridge is back, now asking $15 million.

218 Clapboard Ridge Rd

218 Clapboard Ridge Rd

It started a year ago September at $25 million, and at the time, I expressed some doubt that it would fetch anything close to that. I still think $10 will prove the lucky number, or maybe $12. I’ve never understood why sellers do this to themselves, or why brokers take crazily-priced listings.

But hey, it all makes for great blog fodder.

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Finally, real estate news returns

A couple of sales reported.

One Shore Acre Drive

One Shore Acre Drive

One Shore Acre Drive, Old Greenwich, $4.375 million, sold in a matter of weeks of being listed.

6 Dialstone Lane

6 Dialstone Lane

6 Dialstone Lane, Riverside, $1.575 Million. Just ahead of the foreclosure auction gavel.

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Pistol or mailbox, your choice

Mail call

Mail call!

Bobcat attacks couple and their newborn, father clubs it off with a mailbox.

LEBANON, Conn. (AP) — State environmental police euthanized a bobcat and it’s being tested for rabies after it attacked a couple and their baby in Lebanon. Authorities say it may be the same bobcat that attacked a woman in Bozrah.

Summer and Tom Berubewere walking and holding their newborn daughter Sunday when the bobcat ran toward them.

Tom Berube says he grabbed a mailbox and used it to knock down the bobcat as it jumped at him. They flagged down a passing driver and called police.

You grab what comes to hand in situations like this, but still….

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As Cos Cobber says, “nothing in here that FWIW readers don’t already know”

None the less, he send along this NY Magazine article, “What’s the matter with Connecticut?”, and it’s a good, though depressing, read. Next stop, Wyoming.

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Coming to your Obamacare meal-tray soon

Food served patients in British hospitals leaves even doctors dismayed. While Ashya King’s parents remain in a Spanish jail, awaiting extradition for fleeing British medical care and trying to obtain treatment in the USA for their sick son, The Daily Mail reports that proton-beam therapy is saving children’s lives in America, and shows what awaits Ashya in Britain, where patients’ families have resorted to bringing them meals. My guess is the cost cutting at NHS started with food, and has now spread to refusal to buy new technologies and conducting international manhunts for people who flee the system.

Welcome to the Soviet Union.

"Salad" for two?

“Salad” for two?

Glop

Glop

Tomato and cheese "sandwich"

Tomato and cheese “sandwich”

?

?

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