Essex Island Marina Sells for $3,465,000, More Than Some Expected

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The welcoming building at the Essex Island Marina.

One of the prospective bidders said before the auction took place that he had decided not to bid, “because of possible environmental problems that a purchaser might have to address.” Also, this naysayer said that there was a rumor that Jack Brewer tried to buy the property before the auction took place, but that his offer had not been not accepted by the owner.

Typical luxury yacht found at Essex Island Marina

One of the many luxury yachts found at Essex Island Marina.

Since there was no mutually agreed upon sale of the property before the auction date of August 5, the formal Absolute Auction of the Essex Island Marina was ready to go. The auction began shortly after eleven o’clock on Tuesday, August 5, and there was an interested crowd of some 100 people in attendance, all seated under a large tent on the grounds of the Essex Island Marina. Most of those in attendance were interested spectators, but at least 20 in the crowd were serious bidders, who came prepared with $75,000 deposit in-hand.

A sizable crowd attended the JJManning’s “Absolute Auction” of the Essex Island Marina

The interest in the property by these serious bidders was understandable, since what was being auctioned off was one of the premium marinas along the entire Eastern Seaboard of the United States.

The auction itself was conducted by Justin J. Manning, who is the President and CEO of JJManning Auctioneers, which is headquartered in Yarmouth Port, Massachusetts. Manning began the auction with the friendly query, “Did anyone come by boat today?” However, it turned out that no one had, so he got down to the business at hand.

The “Manning” Style of Running an Auction

Manning’s style in conducting the auction of the Essex Island Marina was to engage in a continuous line of chatter. He would only pause to accept a bid of a certain amount. Then, immediately after accepting this bid, he would ask for a higher one. Generally, the higher amount that he called for, was in the $50,000 range.

Justin Manning, who conducted the recent "Absolute Auction" at the Essex Island Marina

Justin Manning, who conducted the recent “Absolute Auction” at the Essex Island Marina.

The only time Manning paused in his continuous line of chatter of accepting and asking for new higher bids, was to permit a bidder to stop the auction for 30 seconds, so that the he or she could speak with an attorney or money source on the telephone. Once the thirty seconds was up, Manning immediately continued his auction patter.

In his introduction before the formal bidding began, Manning noted that his family has been in the auctioning business since 1976. As for the mindset of the present owner of the Essex Island Marina, Manning said, “He’s done, he wants to retire, and get out of the marina business.”

Also, before the auction began Manning read out loud a detailed description of the property being auctioned. He also said that prospective bidders had been given confidential information about the property that was not available to the general public.

Manning explained that the winner of the auction would have to pay a 10% Buyer’s Premium on top of the highest bid, to arrive at the total purchase price, and the final closing of the sale would take place on or before September 18.

In his remarks before the auction began, Manning stressed that the property was being sold “as is,” In addition, he said the boats presently with slips at the marina for the season would not have their leases cancelled. Manning also noted before the auction that there were 35 slip owners, presently at the marina, who wanted to turn the marina into a private yacht club condominium. However, this prospect faded quickly, when the actual bidding began.

The sale at auction included all the real estate of the marina, Manning said, and the equipment listed in the P&S.

The “Absolute Auction” Begins

At the auction itself, Manning first asked for a bid of $5 million for the property. No one responded, so he slipped down to asking for $2.5 million. There was still no response. Finally, the bidding opened at $400,000, then $1.2 million, $2 million, $2.3 million, $2.4 million, $2.5 million, $2.6 million, $2.65 million, and then before you knew it the bidding had climbed to well above $3 million, until it reached the final auction price. Manning exhorted the bidding to continue, but to no avail. After a further pause, he proclaimed the winner of the auction, who was none other than Jack Brewer.

The actual bidding in the auction took no more than forty minutes. Also, worth noting was that the auctioneer Justin Manning wore a stylish, dark blue suit, with a tastefully appropriate shirt and tie. Clearly, this was no “blue collar “country auction, where the auctioneer pauses from time, to time to spit from the tobacco he has been chewing.

When it was all over a number of guests at that auction stayed around to compare notes. It was a general consensus that Jack Brewer could have paid less for the marina, if he had been able to strike a deal with the marina owner before the actual auction took place. JJ Manning proved to be a master in running up the price to over $3 million.

Jack Brewer Now Owns 29 Marinas

Nevertheless, even though Brewer may have paid somewhat more than what was anticipated, in the view of one the visitors at the auction, he has purchased a property that will be the flagship of what is now his 29 Brewer marinas. Also, since he already owns two marinas in Essex Harbor he has a clear monopoly on rental slips there.

The former owner of the Essex Island Marina, Wally Schieferdecker said, when the auction was all over, “I’m not happy, I’m not sad, and I am glad it is over.” The Schieferdecker family had owned and operated the marina for 56 years.

Page Taft, Rachel Thomas Real Estate Merge

logoPage Taft Real Estate announced Wednesday that the company has merged its Essex, Conn., office with Rachel Thomas Real Estate.  The Essex office of Page Taft~Christie’s International Real Estate will now be located in the former Rachel Thomas location at 5 Essex Square. The office will be home to 23 agents specializing in shoreline and Connecticut River Valley properties.

“We’re very pleased about our merger with Page Taft~Christie’s. Our agents are of like minds and both believe in the importance of fantastic customer service. By joining with an affiliate of Christie’s International Real Estate and one of the strongest companies in our marketplace, we are able to double the resources and services that we offer our clients,” said Maureen O’Grady, co-owner of Rachel Thomas Real Estate.

Rachel Thomas Real Estate has served Essex and surrounding communities under the expert guidance of  Maureen and John O’Grady since 2000.  During that time, the company has become a force in the luxury real estate market and was selected by Who’s Who in Luxury Real Estate to be the exclusive “Regent” affiliate for the greater Essex area.

“I’m delighted to have a quality company like Rachel Thomas join forces with Page Taft.  This strategic alliance will increase our presence in the communities we serve, from Branford to Old Lyme,” said Karen Stephens, Broker and Executive Vice-President of Page Taft.

Since opening its doors in 1980, Page Taft has earned an exemplary reputation in the Connecticut shoreline real estate market, earning a 96 percent customer satisfaction rating from the Real Living Premiere Service customer satisfaction survey.   The agency is part of the Randall Family of Companies which also includes Randall, REALTORS in Rhode Island and Connecticut, Kinlin Grover on Cape Cod and Pequot Commercial in Connecticut.

“We’re excited about joining the experience and resources of Page Taft and Rachel Thomas,” commented Douglas Randall, CEO of the Randall Family of Companies. “I think it will be hard to find a more knowledgeable team of real estate professionals if you’re looking for a property along the Connecticut shore.”

Information about the Randall Family of Companies, their affiliates and the southern New England market area can be found on http://www.coastalnewenglandliving.com.

Saybrook Point Inn Donates $25,000 to The Preserve

The terrace at the Saybrook Point Inn.

The terrace at the Saybrook Point Inn.

The Saybrook Point Inn & Spa, through the Louis F. and Mary A. Tagliatela Family Foundation, has donated $25,000 to “The Preserve,” a swath of 1,000 acres of coastal forest along the towns of Old Saybrook, Essex and Westbrook, Connecticut.  As the largest unprotected coastal forest between New York and Boston, this land is rich in natural resources, wildlife and habitat that not only offers residents with outdoor recreational opportunities, but also provides an important coastal buffer against storm waters during natural disasters.

Residents of Connecticut treasure this 1,000-acre coastal forest as a place to connect with nature close to home. Known locally as The Preserve, the woodland plays an important role in maintaining water quality in Trout Brook and the Oyster and Mud rivers, which feed into the Connecticut River and Long Island Sound.  The partnership to preserve and protect this natural ecosystem in Connecticut consists of the State of Connecticut, neighboring towns (Old Saybrook, Essex and Westbrook), and The Trust for Public Land.

“On behalf of my family, we are proud to be able to preserve and protect one of Connecticut’s most sacred ecosystems for generations to come,” said Stephen Tagliatela, Innkeeper/Managing Partner, Saybrook Point Inn & Spa.  “It’s always been a founding principle of our family to care and maintain the environment we live in.  It’s through our efforts, in cooperation with the Trust for Public Land, Town of Old Saybrook, and Essex Land Trust, that we will conserve this important coastal forest to forever as a natural asset for our region and our state.”

On Tuesday, July 8, voters in Old Saybrook overwhelmingly approved the purchase of “The Preserve,” which will now be protected in perpetuity as open space for Connecticut residents for generations to come. As the largest unprotected coastal forest between New York City and Boston, this 1,000-acre ecosystem will be permanently protected from future development. It will connect to 500 acres of existing town parkland providing expanded opportunities for hiking and viewing a variety of birds and other wildlife.

“We are very grateful that the Tagliatela family has made this very generous gift to support the Campaign to Protect the 1,000 Acre Forest,” said Kate Brown, Project Manager for The Trust for Public Land.  “This is a wonderful boost that will help us move closer to the fundraising goal and permanent protection of the land.”

The Louis F. and Mary A. Tagliatela Foundation was established in 1997 by North Haven business leader Louis F. Tagliatela. Over the years, the Foundation has donated more than $9 million to support local non-profit organizations including hospitals, schools and churches. In addition, the organization helped establish the Tagliatela School of Engineering at the University of New Haven and the Tagliatela School of Business at Albertus Magnus College.

The Preserve is a 1,000-acre coastal forest located in Old Saybrook, Essex, and Westbrook, Connecticut.  It is the largest unprotected coastal forest remaining between New York City and Boston.  The dense canopy of forest and the Pequot Swamp Pond act as a refueling stop for many migratory birds, and the many freshwater seeps on the property are home to amphibian species such as the northern dusky salamander, spotted turtles, and box turtles.  Bobcats and fisher cats have also been spotted on the property.  The land includes 38 vernal pools, 114 acres of wetlands, headwaters of the Oyster River, and tributaries of the Mud and Trout Brook Rivers.  These rivers eventually flow into Long Island Sound.

The property has a 15-year history of development proposals, foreclosure, and lawsuits by neighbors and conservationists opposing its development.  The land is currently owned by Lehman Brothers Holdings, the holding company that emerged from the 2008 Lehman Brothers bankruptcy.  The holding company has agreed to sell the property to The Trust for Public Land for its fair market value of $8.09 million.  If protected, this highly unusual intact coastal forest will be preserved and the public will have passive recreational access to the property via trails.

The Trust for Public Land is working in partnership with the Connecticut Department of Energy and Environ-mental Protection, the Towns of Old Saybrook, Essex, and Westbrook, the Old Saybrook Land Trust, the Essex Land Trust, The Connecticut Fund for the Environment, the Alliance for Sound Area Planning, Audubon Connecticut, The Nature Conservancy, and others to raise the funding necessary to protect The Preserve.  The goal of the fundraising effort is to raise $10 million to cover the purchase price, costs and stewardship. A further $3 million is expected to be raised via a private fundraising campaign, to supplement $7 million in public funding.

Since it opened 25 years ago, Saybrook Point Inn & Spa has adapted and changed. It has taken a decidedly green direction, winning numerous awards for its often best-in-class green practices, including the first Connecticut inn to be named a Certified Energy Hotel in 2007.

The Inn now features SANNO, a full service European spa, as well as Fresh Salt, a restaurant designed by Peter Niemitz that opened to strong reviews in 2011.  The property employs more than 260 hospitality professionals in the town of Old Saybrook, Conn., and is among the town’s top employers and economic engines.

Saybrook Point Inn & Spa recently opened its new Three Stories guesthouse adjacent to the main Inn. This completely renovated Italianate home overlooking Long Island Sound was originally built in 1892 as a single-family home for the prominent engineer William Vars.  The property has been fully refurbished and revitalized as a seven-room guesthouse with wrap around porches and private gardens.

As a testament to its rich history, each room at Three Stories tells the story of a famed local resident who made sure that the history of the community was well preserved.  This includes Katharine Hepburn’s mother, who was a co-founder of Planned Parenthood and leading suffragette, and Anna Louise James, who had the distinction of being one of the first African-American female pharmacists in America and ran the James Pharmacy locally.

Situated along the picturesque coastal community of historic Old Saybrook, Conn. in the hamlet of Saybrook Point, Saybrook Point Inn & Spa features 82 elegantly appointed guestrooms, a rejuvenating full-service spa called SANNO, and a casual fine dining restaurant named Fresh Salt.

Fresh Salt diners savor fresh, seasonal and local cuisine served in Old Saybrook’s most spectacular setting – the spot where the fresh waters of the Connecticut River meet the salt of Long Island Sound.

The Saybrook Point Inn & Spa also features the historic Saybrook Point Marina, a landmark yachting dock conveniently located at the mouth of the Connecticut River with easy access to Long Island Sound.  It can accommodate vessels from 12 to 200 feet and has received numerous premier Connecticut marina awards.  More information is available at www.saybrook.com.

Founded in 1972, The Trust for Public Land is the leading nonprofit working to conserve land for people.  Operating from more than 30 offices nationwide, The Trust for Public Land has protected more than three million acres from the inner city to the wilderness and helped generate more than $34 billion in public funds for conservation.  Nearly ten million people live within a ten-minute walk of a Trust for Public Land park, garden, or natural area, and millions more visit these sites every year. Learn more at www.tpl.org.

Join a Business Breakfast Today to Discuss Sound View Changes, All Welcome

The Town of Old Lyme and the Lyme-Old Lyme Chamber of Commerce are hosting a business breakfast this Wednesday, July 16, from 7:30 to 9 a.m. at the Shoreline Community Center on Hartford Avenue.  Topics under discussion will include:

  • Sound View: Changes Ahead
  • Sound View Bike Path/Revitalization
  • Coastal Wastewater Management Project

All are welcome to this free event and a continental breakfast will be provided.

Free parking will be available in the Community Center parking lot across the street from the Center, and along Hartford Avenue)

A reply is appreciated to selectmansoffice@oldlyme-ct.gov or  860 434 1605, ext. 210

Attend a Free Lecture Tonight on ‘Health, Vitality with Essential Oils’ at Old Lyme Inn

lymeline150x150EOvitalityDawn Krause Swope CHHC, AADP Holistic Health Coach at Vitality Spa and Lisa Wilson, CHHC and Board Certified Natural Health Practitioner and founder of the Raw Food Institute will be hosting a lecture on, “Health & Vitality with Essential Oils,” at the Old Lyme Inn at 6:30 p.m.  Come and find out more about essential oils and how to use them in your home, your life and to create your own natural medicine cabinet.

The event will take place this evening, Wednesday, July 16, at the Old Lyme Inn, Lyme Street, Old Lyme.

The Inn will be open for cocktails from 5 p.m. prior to the lecture.  Entrance is free and the event is sponsored by Vitality Spa, The Old Lyme Inn, IFoundFitness and the Raw Food Institute.  If you cannot arrive early, grab some friends and stay for dinner afterwards.

The evening is free, but it would help to get a feel for numbers so readers are requested to express their interest by emailing the spa or sending an RSVP through the Facebook event.

Driven to restore her health and wellness following chemotherapy and radiation treatments for breast cancer, Swope began exploring various food philosophies and diets.  What she learned from her doctors at Yale University Hospital and from her training at the Institute for Integrative Nutrition is that good nutrition is not enough to keep us healthy.  One must strive to be healthy in all areas of life and to be healthy one must find balance.

Lisa Wilson is a Certified Health Coach, Board Certified Natural Health Practitioner and Cancer Researcher and is certified by the American Association of Drugless Practitioners.  She is part of the Nutrition Team at National Integrative Health Associates, NIHAdc.com, Washington, DC’s premier integrative medical center, founded by Holistic MD’s.  As founder of the prestigious Raw Food Institute, Wilson received the award for best, “Raw Vegan Center”, as well as the winner of, “The Medical Awareness for Raw Food.”  As a national speaker, writer and consultant, Wilson’s areas of focus include family health, obesity, ADHD, Lyme and Cancer Nutritional Support, Low Energy and Weight Loss.