29 Alden Road, occupied by one Russ Gerson, although title might be held by one of his corporate entities, is scheduled to be sold by court auction this coming November 14, but don’t ready your check book just yet: these things are usually postponed and delayed for years.
29 Alden’s Mr. Gerson has an interesting history, one that should probably have seen him ensconced on Round Hill Road with his peers, rather than plumped down next to the Greenwich Office Park, but there’s no accounting for taste. The property was listed by David Ogilvy and sold to Gerstner by David Ogilvy in 2003 for $3.114 million.
In 2005, Gerson borrowed $3.944 million against the house, which is a neat trick, and defaulted on that loan sometime thereafter. He tried to sell the house at various times, beginning at $6.495, promoted mainly as building site (3.37 acres in RA-1 zone, will support a house of 19,800 sq.ft.) but no one bit, and the price steadily declined.
Lah dee dah dee – all standard fare, for ur town, but looking up Gerson just for fun, he turns out to have been a busy financial man, with several angry clients as a result, including former Senator (Wisconsin) Robert Karston, who sued Gerson for $195,000 of unpaid consulting fees in 2013. Here’s an excerpt from his unauthorized biography:
Oct. 2, 2013 – PRLog — Russ Gerson, a.k.a. Russel D. Gerson, Greenwich, Connecticut USA
resident was the founder and man behind the now defunct companies The
Gerson Group, Gerson Global Strategic Advisors and Gerson Global
Advisors, LLC. The Gerson group of companies has advertised company
offices in New York, New York, Washington, DC and London, UK.
In a recent March 2013 deposition, Mr. Gerson advised that his former
companies are no longer earning any revenue and have ceased
operations. The Gerson group of companies was advertised to have
locations in Washington, DC, New York and London. Mr. Gerson noted
his small team primarily only worked out of a corporate office in New
York and may not have conducted actual business operations in the
locations that they publicized on the company website.
Russ Gerson describes his business experience, “As a leading senior
advisor and consultant to corporate and global financial services
firms, as well as prominent political and government officials of both
major United States political parties”. Mr. Gerson has noted on his
various public profiles that he led presidential planning transition
teams for numerous presidential nominees, is a trustee of The Hudson
Institute and a member of the Executive Roundtable of the Republican
Governors Association. Extensive searches of third party public
filings have not confirmed these current assertions.
However, public records do indicate Russ Gerson and his alter-ego
companies have been parties to numerous lawsuits. A number of these
lawsuits have resulted in judgment.As recently as 2013 , former U.S.
Sen. Robert Kasten, who represented Wisconsin in Congress until 1993,
says in NY Supreme Court filing that Gerson Global Advisors owes him
$195,000 for consulting fees. Additional NY Supreme Court filing,
Brown Lloyd James V Gerson Global Strategic Advisors details judgment
enforcement in the amount of $261,668.16.
Despite these apparent business setbacks, Mr. Gerson is trying again
with his new venture in the aptly named Phoenix Star Capital. Russ
Gerson has published that he is the Chairman of Phoenix Star Capital –
a multifaceted asset management firm focused on investment
opportunities across the credit spectrum. Phoenix Star plans to launch
collateralized debt obligation and distressed debt funds, as well as
providing consultancy services. Phoenix Star Capital has publicly
announced plans to open a London office within two years and hopes to
profit by buying debt securities backed by loans that banks are
offloading to improve their capital ratios as British bankruptcy codes
have been modified and the group feels there are good opportunities in
UPDATE: Oops! Further research for “Russ Gerson, defendant” turns up a slew of lawsuits brought against him by Las Vegas casinos for failure to honor his makers. Bad boy.